Principal Financial Group Inc. Acquires 18,455 Shares of NeoGenomics, Inc. (NASDAQ:NEO)

Principal Financial Group Inc. grew its holdings in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 3.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 622,849 shares of the medical research company’s stock after purchasing an additional 18,455 shares during the quarter. Principal Financial Group Inc. owned about 0.49% of NeoGenomics worth $10,265,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Strategic Financial Concepts LLC bought a new position in shares of NeoGenomics during the 4th quarter valued at $220,000. Rhumbline Advisers raised its holdings in NeoGenomics by 2.4% in the 4th quarter. Rhumbline Advisers now owns 389,003 shares of the medical research company’s stock worth $6,411,000 after acquiring an additional 9,098 shares during the period. Guidance Capital Inc. bought a new position in NeoGenomics in the 4th quarter worth $528,000. Jennison Associates LLC raised its holdings in NeoGenomics by 18.7% in the 4th quarter. Jennison Associates LLC now owns 1,514,756 shares of the medical research company’s stock worth $24,963,000 after acquiring an additional 238,288 shares during the period. Finally, Chicago Capital LLC bought a new position in NeoGenomics in the 4th quarter worth $270,000. Institutional investors own 98.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NEO. Benchmark downgraded shares of NeoGenomics from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Needham & Company LLC dropped their target price on shares of NeoGenomics from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Jefferies Financial Group began coverage on shares of NeoGenomics in a report on Tuesday, December 10th. They issued a “buy” rating and a $22.00 target price on the stock. Bank of America dropped their target price on shares of NeoGenomics from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group decreased their price target on shares of NeoGenomics from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.60.

NeoGenomics Stock Performance

NASDAQ:NEO opened at $9.99 on Friday. The firm has a market capitalization of $1.28 billion, a PE ratio of -16.11 and a beta of 1.23. The company has a quick ratio of 1.91, a current ratio of 1.98 and a debt-to-equity ratio of 0.38. NeoGenomics, Inc. has a 12-month low of $9.59 and a 12-month high of $19.11. The firm has a 50-day moving average price of $14.49 and a 200 day moving average price of $15.25.

NeoGenomics (NASDAQ:NEO) last issued its earnings results on Tuesday, February 18th. The medical research company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. The company had revenue of $172.00 million during the quarter, compared to analyst estimates of $173.40 million. Research analysts anticipate that NeoGenomics, Inc. will post -0.2 earnings per share for the current fiscal year.

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.