PNC Financial Services Group Inc. Raises Holdings in NeoGenomics, Inc. (NASDAQ:NEO)

PNC Financial Services Group Inc. lifted its holdings in NeoGenomics, Inc. (NASDAQ:NEO) by 27.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,434 shares of the medical research company’s stock after purchasing an additional 1,791 shares during the quarter. PNC Financial Services Group Inc.’s holdings in NeoGenomics were worth $136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Burkett Financial Services LLC bought a new position in shares of NeoGenomics during the 4th quarter valued at $46,000. Quadrant Capital Group LLC boosted its position in NeoGenomics by 22.0% in the fourth quarter. Quadrant Capital Group LLC now owns 4,900 shares of the medical research company’s stock worth $79,000 after purchasing an additional 883 shares during the last quarter. White Pine Capital LLC purchased a new position in NeoGenomics in the fourth quarter worth about $261,000. Handelsbanken Fonder AB increased its position in shares of NeoGenomics by 7.0% during the 4th quarter. Handelsbanken Fonder AB now owns 19,900 shares of the medical research company’s stock valued at $322,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Millrace Asset Group Inc. bought a new position in shares of NeoGenomics in the 4th quarter worth approximately $399,000. 98.50% of the stock is owned by institutional investors.

NeoGenomics Stock Performance

Shares of NeoGenomics stock opened at $13.73 on Friday. The company has a quick ratio of 7.22, a current ratio of 7.48 and a debt-to-equity ratio of 0.58. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of -20.80 and a beta of 1.19. NeoGenomics, Inc. has a twelve month low of $11.03 and a twelve month high of $21.22. The business has a 50-day moving average price of $14.07 and a 200-day moving average price of $15.09.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings data on Tuesday, April 30th. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The firm had revenue of $156.24 million during the quarter, compared to the consensus estimate of $149.82 million. NeoGenomics had a negative return on equity of 3.54% and a negative net margin of 13.79%. Equities research analysts anticipate that NeoGenomics, Inc. will post -0.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NEO. Benchmark reiterated a “buy” rating and set a $18.00 price target on shares of NeoGenomics in a research note on Wednesday, May 1st. Craig Hallum assumed coverage on shares of NeoGenomics in a research note on Wednesday, May 1st. They set a “buy” rating and a $26.00 target price on the stock. Needham & Company LLC dropped their price target on shares of NeoGenomics from $24.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. TD Cowen decreased their price objective on shares of NeoGenomics from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Finally, BTIG Research dropped their target price on shares of NeoGenomics from $23.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $19.78.

NeoGenomics Company Profile

NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States and the United Kingdom. It operates through Clinical Services and Advanced Diagnostics segments. The company offers testing services to hospitals, academic centers, pathologists, oncologists, clinicians, pharmaceutical companies, and clinical laboratories.