Baird Financial Group Inc. Buys 7,174 Shares of NeoGenomics, Inc. (NASDAQ:NEO) – Ticker Report

Baird Financial Group Inc. increased its stake in NeoGenomics, Inc. (NASDAQ:NEO) by 64.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,296 shares of the medical research company’s stock after purchasing an additional 7,174 shares during the quarter. Baird Financial Group Inc.’s holdings in NeoGenomics were worth $548,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Citizens Financial Group Inc RI increased its stake in NeoGenomics by 11.8% in the 2nd quarter. Citizens Financial Group Inc RI now owns 4,332 shares of the medical research company’s stock worth $134,000 after buying an additional 457 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in shares of NeoGenomics by 6.8% during the second quarter. Ameritas Investment Partners Inc. now owns 9,152 shares of the medical research company’s stock valued at $284,000 after purchasing an additional 583 shares in the last quarter. Private Advisor Group LLC grew its position in shares of NeoGenomics by 3.2% during the first quarter. Private Advisor Group LLC now owns 19,035 shares of the medical research company’s stock valued at $526,000 after purchasing an additional 589 shares in the last quarter. ETRADE Capital Management LLC grew its position in shares of NeoGenomics by 1.5% during the second quarter. ETRADE Capital Management LLC now owns 43,648 shares of the medical research company’s stock valued at $1,353,000 after purchasing an additional 628 shares in the last quarter. Finally, NEXT Financial Group Inc grew its position in shares of NeoGenomics by 7.9% during the second quarter. NEXT Financial Group Inc now owns 10,974 shares of the medical research company’s stock valued at $340,000 after purchasing an additional 800 shares in the last quarter. Institutional investors and hedge funds own 91.67% of the company’s stock.

In other news, VP Jennifer Balliet sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $39.25, for a total value of $510,250.00. Following the completion of the transaction, the vice president now owns 37,980 shares of the company’s stock, valued at $1,490,715. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider George Cardoza sold 82,500 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $39.35, for a total transaction of $3,246,375.00. Following the completion of the transaction, the insider now directly owns 433,402 shares of the company’s stock, valued at approximately $17,054,368.70. The disclosure for this sale can be found here. In the last three months, insiders sold 247,273 shares of company stock valued at $9,498,701. Company insiders own 6.50% of the company’s stock.

A number of research analysts have weighed in on the stock. Needham & Company LLC upped their price objective on shares of NeoGenomics from $33.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Benchmark upped their price target on shares of NeoGenomics from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. BidaskClub downgraded shares of NeoGenomics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 5th. Craig Hallum upped their price target on shares of NeoGenomics from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Finally, SVB Leerink upped their price target on shares of NeoGenomics from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $37.50.

Shares of NASDAQ NEO opened at $35.83 on Friday. The company has a quick ratio of 6.44, a current ratio of 6.79 and a debt-to-equity ratio of 0.25. NeoGenomics, Inc. has a 52 week low of $18.52 and a 52 week high of $41.03. The firm has a 50-day moving average price of $38.15 and a 200 day moving average price of $31.31. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of -716.60 and a beta of 0.80.

NeoGenomics (NASDAQ:NEO) last announced its earnings results on Tuesday, July 28th. The medical research company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.06. The company had revenue of $86.90 million during the quarter, compared to analysts’ expectations of $86.55 million. NeoGenomics had a negative net margin of 1.33% and a positive return on equity of 0.73%. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.07 earnings per share. Equities research analysts expect that NeoGenomics, Inc. will post -0.01 EPS for the current fiscal year.

NeoGenomics Company Profile

NeoGenomics, Inc, together with its subsidiaries, operates a network of cancer-focused genetic testing laboratories in the United States; and laboratories in Switzerland and Singapore. It operates in two segments, Clinical Services and Pharma Services. The company’s laboratories provide genetic and molecular testing services to hospitals, pathologists, oncologists, urologists, other clinicians and researchers, pharmaceutical firms, academic centers, and other clinical laboratories.

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