NeoGenomics, Inc. (NASDAQ:NEO) Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its stake in NeoGenomics, Inc. (NASDAQ:NEO) by 12.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,200 shares of the medical research company’s stock after buying an additional 2,700 shares during the quarter. Handelsbanken Fonder AB’s holdings in NeoGenomics were worth $372,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. boosted its holdings in NeoGenomics by 27.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,434 shares of the medical research company’s stock valued at $136,000 after purchasing an additional 1,791 shares during the last quarter. Banque Cantonale Vaudoise increased its stake in shares of NeoGenomics by 6.6% in the first quarter. Banque Cantonale Vaudoise now owns 15,942 shares of the medical research company’s stock worth $251,000 after buying an additional 993 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in NeoGenomics by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 21,247 shares of the medical research company’s stock valued at $334,000 after acquiring an additional 1,791 shares in the last quarter. Jennison Associates LLC boosted its stake in NeoGenomics by 77.8% during the 1st quarter. Jennison Associates LLC now owns 1,051,627 shares of the medical research company’s stock valued at $16,532,000 after acquiring an additional 460,071 shares during the last quarter. Finally, Texas Permanent School Fund Corp grew its holdings in NeoGenomics by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 111,557 shares of the medical research company’s stock worth $1,753,000 after acquiring an additional 1,445 shares in the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

NeoGenomics Stock Up 2.1 %

Shares of NeoGenomics stock opened at $13.81 on Tuesday. The company has a market capitalization of $1.76 billion, a P/E ratio of -20.92 and a beta of 1.19. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.01 and a quick ratio of 1.93. NeoGenomics, Inc. has a 1-year low of $12.25 and a 1-year high of $21.22. The business’s fifty day moving average price is $15.59 and its two-hundred day moving average price is $14.82.

NeoGenomics (NASDAQ:NEO) last released its earnings results on Monday, July 29th. The medical research company reported $0.03 EPS for the quarter. NeoGenomics had a negative net margin of 12.50% and a negative return on equity of 2.72%. The firm had revenue of $164.50 million for the quarter, compared to analysts’ expectations of $161.82 million. During the same quarter last year, the company earned ($0.09) EPS. NeoGenomics’s quarterly revenue was up 12.0% on a year-over-year basis. As a group, research analysts forecast that NeoGenomics, Inc. will post -0.21 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NEO shares. Needham & Company LLC restated a “buy” rating and issued a $19.00 target price on shares of NeoGenomics in a research note on Wednesday, September 25th. Benchmark reiterated a “buy” rating and issued a $18.00 price target on shares of NeoGenomics in a report on Tuesday, September 24th. Finally, Stephens restated an “overweight” rating and set a $19.00 price objective on shares of NeoGenomics in a research note on Tuesday, July 30th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NeoGenomics presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.89.

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.