American Century Companies Inc. has recently increased its stake in NeoGenomics, Inc. (NASDAQ: NEO), a medical research company, by 5.4% during the second quarter. According to the company’s most recent Form 13F filing with the SEC, American Century Companies Inc. now owns 3,261,756 shares of NeoGenomics, worth $45,241,000 after acquiring an additional 167,145 shares during the quarter. This represents 2.55% ownership of NeoGenomics by American Century Companies Inc.
In addition to American Century Companies Inc., other institutional investors have also made modifications to their holdings in NeoGenomics. Arizona State Retirement System raised its holdings in NeoGenomics by 2.0% in the second quarter, now owning 35,739 shares valued at $496,000. Crossmark Global Holdings Inc. lifted its position by 2.9%, owning 29,494 shares worth $409,000. Quadrant Capital Group LLC increased its stake by 22.0%, now owning 4,900 shares valued at $79,000. Banque Cantonale Vaudoise also raised its holdings by 6.6%, owning 15,942 shares worth $251,000. Louisiana State Employees Retirement System saw a 1.9% increase in their holdings, now owning 64,300 shares valued at $892,000. Overall, institutional investors and hedge funds own 98.50% of NeoGenomics’ stock.
Shares of NeoGenomics stock traded down $0.04 during trading on Tuesday, reaching $16.29. The company’s debt-to-equity ratio is 0.37, with a quick ratio of 1.93 and a current ratio of 2.01. NeoGenomics has a 12-month low of $11.03 and a high of $21.22. The stock’s fifty-day moving average is $15.93 and its 200-day moving average is $14.93. With a market cap of $2.08 billion, NeoGenomics has a PE ratio of -24.68 and a beta of 1.19.
In its recent quarterly earnings report on July 29th, NeoGenomics reported $0.03 EPS for the quarter, with revenue of $164.50 million, surpassing analyst estimates. The company’s revenue was up 12.0% compared to the same quarter last year. Despite a negative net margin of 12.50% and a negative return on equity of 2.72%, NeoGenomics remains optimistic about its future performance. Analysts anticipate that NeoGenomics, Inc. will post -0.22 EPS for the current year.
Several research firms have expressed positive sentiments towards NeoGenomics. Stephens reaffirmed an “overweight” rating with a target price of $19.00, while Needham & Company LLC restated a “buy” rating with a target price of $19.00. Benchmark also reiterated a “buy” rating with a $18.00 target price. Overall, two analysts have rated the stock as a hold, while nine have assigned a buy rating, with an average rating of “Moderate Buy” and a consensus price target of $19.89.
NeoGenomics, Inc. operates a network of cancer-focused testing laboratories in the United States and the United Kingdom. The company offers testing services to hospitals, academic centers, pathologists, oncologists, clinicians, pharmaceutical companies, and clinical laboratories. NeoGenomics operates through Clinical Services and Advanced Diagnostics segments, focusing on providing cutting-edge testing services in the field of oncology.
As institutional investors like American Century Companies Inc. continue to increase their stake in NeoGenomics, the company’s growth potential and market presence are expected to expand further. With positive analyst ratings and strong financial performance, NeoGenomics remains a promising investment opportunity in the medical research industry.