HighMark Wealth Management LLC Acquires 167,000 Shares of NeoGenomics, Inc. $NEO

HighMark Wealth Management LLC increased its holdings in NeoGenomics, Inc. (NASDAQ:NEO) by 41.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 567,334 shares of the medical research company’s stock after purchasing an additional 167,000 shares during the quarter. NeoGenomics accounts for 2.7% of HighMark Wealth Management LLC’s holdings, making the stock its 8th biggest position. HighMark Wealth Management LLC’s holdings in NeoGenomics were worth $6,672,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. First Light Asset Management LLC grew its position in NeoGenomics by 45.0% in the third quarter. First Light Asset Management LLC now owns 9,927,269 shares of the medical research company’s stock worth $76,639,000 after buying an additional 3,080,837 shares during the last quarter. Greenhouse Funds LLLP grew its holdings in shares of NeoGenomics by 10.6% in the 3rd quarter. Greenhouse Funds LLLP now owns 8,220,657 shares of the medical research company’s stock worth $63,463,000 after acquiring an additional 789,510 shares during the last quarter. American Capital Management Inc. grew its holdings in shares of NeoGenomics by 120.9% in the 3rd quarter. American Capital Management Inc. now owns 2,345,263 shares of the medical research company’s stock worth $18,105,000 after acquiring an additional 1,283,390 shares during the last quarter. Aberdeen Group plc raised its position in shares of NeoGenomics by 127.1% during the fourth quarter. Aberdeen Group plc now owns 1,798,939 shares of the medical research company’s stock worth $21,156,000 after purchasing an additional 1,006,676 shares during the period. Finally, Glenmede Investment Management LP lifted its holdings in shares of NeoGenomics by 44.9% during the third quarter. Glenmede Investment Management LP now owns 1,561,790 shares of the medical research company’s stock valued at $12,057,000 after purchasing an additional 484,005 shares during the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

NeoGenomics Stock Down 5.6%

Shares of NeoGenomics stock opened at $8.26 on Thursday. NeoGenomics, Inc. has a 1 year low of $4.72 and a 1 year high of $13.74. The company has a market cap of $1.08 billion, a P/E ratio of -10.73 and a beta of 1.81. The company has a current ratio of 4.42, a quick ratio of 4.06 and a debt-to-equity ratio of 0.41. The stock has a 50-day moving average price of $8.31 and a 200 day moving average price of $10.37.

NeoGenomics (NASDAQ:NEO) last released its earnings results on Tuesday, April 28th. The medical research company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The company had revenue of $186.67 million for the quarter, compared to analysts’ expectations of $184.54 million. NeoGenomics had a negative return on equity of 2.80% and a negative net margin of 13.30%.The business’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, analysts expect that NeoGenomics, Inc. will post -0.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Leerink Partners upgraded NeoGenomics from a “market perform” rating to an “outperform” rating and increased their price target for the company from $12.00 to $25.00 in a research report on Wednesday, April 29th. Benchmark raised shares of NeoGenomics from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Wednesday, April 29th. Weiss Ratings restated a “sell (d-)” rating on shares of NeoGenomics in a report on Friday, March 27th. Zacks Research lowered shares of NeoGenomics from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Finally, William Blair reiterated a “market perform” rating on shares of NeoGenomics in a research report on Monday, March 16th. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.86.

NeoGenomics Profile

NeoGenomics, traded on the Nasdaq under the symbol NEO, is a leading provider of cancer-focused genetic and molecular testing services. Headquartered in Fort Myers, Florida, the company operates an integrated network of CAP-accredited and CLIA-certified laboratories across the United States, Europe and Asia. NeoGenomics delivers diagnostic insights that support oncologists, pathologists and healthcare institutions in the detection, prognosis and treatment of hematologic and solid tumor cancers.

The company’s core service offerings include flow cytometry, immunohistochemistry, fluorescence in situ hybridization (FISH), karyotyping and advanced molecular assays such as next-generation sequencing (NGS) panels and polymerase chain reaction (PCR) tests.