California State Teachers Retirement System Increases Stock Position in NeoGenomics, Inc. (NASDAQ:NEO)

California State Teachers Retirement System boosted its stake in NeoGenomics, Inc. (NASDAQ:NEO) by 7.8% during the 2nd quarter, Holdings Channel reports. The firm owned 156,204 shares of the medical research company’s stock after buying an additional 11,297 shares during the quarter. California State Teachers Retirement System’s holdings in NeoGenomics were worth $4,839,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NEO. Private Advisor Group LLC raised its position in shares of NeoGenomics by 4.6% during the 2nd quarter. Private Advisor Group LLC now owns 19,915 shares of the medical research company’s stock valued at $617,000 after buying an additional 880 shares in the last quarter. First Light Asset Management LLC lifted its stake in shares of NeoGenomics by 0.3% during the 2nd quarter. First Light Asset Management LLC now owns 612,682 shares of the medical research company’s stock worth $18,981,000 after acquiring an additional 2,018 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of NeoGenomics during the 2nd quarter worth approximately $378,000. Man Group plc raised its position in NeoGenomics by 118.6% during the 2nd quarter. Man Group plc now owns 91,309 shares of the medical research company’s stock valued at $2,829,000 after purchasing an additional 49,541 shares in the last quarter. Finally, PDT Partners LLC bought a new stake in NeoGenomics during the 2nd quarter valued at $216,000. Institutional investors and hedge funds own 91.67% of the company’s stock.

NEO has been the subject of several recent research reports. Bank of America initiated coverage on NeoGenomics in a research report on Thursday, June 25th. They issued a “buy” rating and a $34.00 price target for the company. Guggenheim assumed coverage on NeoGenomics in a research note on Friday, August 28th. They issued a “buy” rating and a $46.00 target price on the stock. BidaskClub cut shares of NeoGenomics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 5th. Morgan Stanley assumed coverage on shares of NeoGenomics in a research note on Wednesday, September 9th. They set an “overweight” rating and a $46.00 target price on the stock. Finally, Craig Hallum boosted their price target on shares of NeoGenomics from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $37.50.

In related news, insider George Cardoza sold 82,500 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $39.35, for a total value of $3,246,375.00. Following the completion of the sale, the insider now directly owns 433,402 shares in the company, valued at approximately $17,054,368.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Robert J. Shovlin sold 81,356 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $38.17, for a total value of $3,105,358.52. Following the completion of the sale, the insider now owns 212,902 shares of the company’s stock, valued at $8,126,469.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 247,273 shares of company stock worth $9,498,701. Corporate insiders own 6.50% of the company’s stock.

Shares of NASDAQ NEO opened at $34.54 on Thursday. The stock’s 50 day moving average price is $37.88 and its two-hundred day moving average price is $31.47. NeoGenomics, Inc. has a 52-week low of $18.52 and a 52-week high of $41.03. The stock has a market capitalization of $3.81 billion, a P/E ratio of -690.80 and a beta of 0.80. 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 (NASDAQ:NEO) last issued its quarterly earnings data 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. NeoGenomics had a positive return on equity of 0.73% and a negative net margin of 1.33%. The business had revenue of $86.90 million during the quarter, compared to analyst estimates of $86.55 million. During the same period in the prior year, the company posted $0.07 EPS. The business’s revenue for the quarter was down 14.6% compared to the same quarter last year. On average, analysts anticipate that NeoGenomics, Inc. will post -0.01 EPS for the current year.

About NeoGenomics

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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