Nordea Investment Management AB Increases Stock Holdings in NeoGenomics, Inc. (NASDAQ:NEO)

Nordea Investment Management AB lifted its position in NeoGenomics, Inc. (NASDAQ:NEO) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 77,534 shares of the medical research company’s stock after purchasing an additional 2,125 shares during the quarter. Nordea Investment Management AB owned about 0.06% of NeoGenomics worth $1,301,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc grew its holdings in shares of NeoGenomics by 174.9% in the fourth quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 1,142 shares during the period. Franklin Resources Inc. grew its holdings in shares of NeoGenomics by 2.0% in the third quarter. Franklin Resources Inc. now owns 2,043,840 shares of the medical research company’s stock valued at $28,225,000 after purchasing an additional 39,740 shares during the period. Geode Capital Management LLC boosted its stake in NeoGenomics by 1.2% during the third quarter. Geode Capital Management LLC now owns 3,051,806 shares of the medical research company’s stock worth $45,022,000 after buying an additional 36,136 shares during the period. State Street Corp boosted its stake in NeoGenomics by 1.6% during the third quarter. State Street Corp now owns 4,958,582 shares of the medical research company’s stock worth $73,139,000 after buying an additional 80,449 shares during the period. Finally, Quarry LP purchased a new position in NeoGenomics during the third quarter worth about $40,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of NeoGenomics in a research note on Tuesday, December 10th. They set a “buy” rating and a $22.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 target price on shares of NeoGenomics in a research note on Friday. Benchmark reaffirmed a “buy” rating and set a $18.00 target price on shares of NeoGenomics in a research note on Tuesday, September 24th. Finally, Bank of America increased their target price on shares of NeoGenomics from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.30.

Insider Activity at NeoGenomics

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 5,175 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $15.36, for a total transaction of $79,488.00. Following the sale, the general counsel now owns 37,129 shares of the company’s stock, valued at approximately $570,301.44. This trade represents a 12.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is owned by corporate insiders.

NeoGenomics Trading Down 20.6 %

NASDAQ NEO opened at $14.77 on Monday. The firm has a 50 day simple moving average of $16.82 and a 200-day simple moving average of $15.67. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.91 and a current ratio of 1.99. NeoGenomics, Inc. has a one year low of $12.77 and a one year high of $19.11. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -24.21 and a beta of 1.24.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Tuesday, November 5th. The medical research company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. The business had revenue of $167.80 million during the quarter, compared to analyst estimates of $167.00 million. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.06) earnings per share. Equities research analysts anticipate that NeoGenomics, Inc. will post -0.16 EPS for the current fiscal year.

About NeoGenomics

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.