KBC Group NV Purchases 1,127 Shares of NeoGenomics, Inc. (NASDAQ:NEO)

KBC Group NV lifted its position in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 33.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 4,530 shares of the medical research company’s stock after buying an additional 1,127 shares during the quarter. KBC Group NV’s holdings in NeoGenomics were worth $67,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Arizona State Retirement System boosted its stake in NeoGenomics by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 35,739 shares of the medical research company’s stock valued at $496,000 after purchasing an additional 708 shares during the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of NeoGenomics by 2.9% during the second quarter. Crossmark Global Holdings Inc. now owns 29,494 shares of the medical research company’s stock valued at $409,000 after buying an additional 842 shares during the last quarter. Fernwood Investment Management LLC increased its holdings in NeoGenomics by 1.0% in the 3rd quarter. Fernwood Investment Management LLC now owns 89,500 shares of the medical research company’s stock worth $1,320,000 after buying an additional 900 shares in the last quarter. Blue Trust Inc. raised its position in NeoGenomics by 42.3% in the 3rd quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock worth $46,000 after buying an additional 987 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in NeoGenomics by 3.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 32,505 shares of the medical research company’s stock valued at $451,000 after acquiring an additional 1,030 shares during the period. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

NeoGenomics Trading Up 6.5 %

Shares of NeoGenomics stock opened at $16.39 on Friday. NeoGenomics, Inc. has a 1-year low of $12.77 and a 1-year high of $21.22. The company’s fifty day simple moving average is $14.63 and its 200-day simple moving average is $14.84. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.99 and a quick ratio of 1.91. The stock has a market capitalization of $2.10 billion, a PE ratio of -26.87 and a beta of 1.19.

NeoGenomics (NASDAQ:NEO) last released its earnings results on Tuesday, November 5th. The medical research company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.04. The company had revenue of $167.80 million for the quarter, compared to the consensus estimate of $167.00 million. NeoGenomics had a negative return on equity of 2.11% and a negative net margin of 12.07%. NeoGenomics’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.06) earnings per share. As a group, equities analysts anticipate that NeoGenomics, Inc. will post -0.17 earnings per share for the current year.

Insider Activity

In other news, General Counsel Alicia C. Olivo sold 5,175 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $15.36, for a total value of $79,488.00. Following the completion of the sale, the general counsel now directly owns 37,129 shares of the company’s stock, valued at $570,301.44. This represents a 12.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NEO. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price target on shares of NeoGenomics in a research note on Wednesday, November 6th. Stephens reiterated an “overweight” rating and set a $19.00 target price on shares of NeoGenomics in a research note on Tuesday, July 30th. Finally, Benchmark reissued a “buy” rating and set a $18.00 price target on shares of NeoGenomics in a report on Tuesday, September 24th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $20.25.

NeoGenomics 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.