KLP Kapitalforvaltning AS Makes New Investment in NeoGenomics, Inc. (NASDAQ:NEO)

KLP Kapitalforvaltning AS purchased a new position in shares of NeoGenomics, Inc. (NASDAQ:NEO) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 27,500 shares of the medical research company’s stock, valued at approximately $453,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Nordea Investment Management AB increased its holdings in NeoGenomics by 2.8% in the fourth quarter. Nordea Investment Management AB now owns 77,534 shares of the medical research company’s stock worth $1,301,000 after buying an additional 2,125 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of NeoGenomics by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 3,051,806 shares of the medical research company’s stock valued at $45,022,000 after purchasing an additional 36,136 shares in the last quarter. Swiss National Bank boosted its holdings in NeoGenomics by 1.0% in the fourth quarter. Swiss National Bank now owns 252,100 shares of the medical research company’s stock worth $4,155,000 after purchasing an additional 2,600 shares in the last quarter. Jennison Associates LLC increased its position in NeoGenomics by 18.7% during the fourth quarter. Jennison Associates LLC now owns 1,514,756 shares of the medical research company’s stock worth $24,963,000 after buying an additional 238,288 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in NeoGenomics by 2.4% during the fourth quarter. Rhumbline Advisers now owns 389,003 shares of the medical research company’s stock valued at $6,411,000 after buying an additional 9,098 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

NeoGenomics Trading Up 0.7 %

Shares of NEO stock opened at $8.78 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.91 and a current ratio of 1.98. The firm has a fifty day moving average of $11.39 and a 200-day moving average of $14.12. NeoGenomics, Inc. has a 52-week low of $8.27 and a 52-week high of $19.12. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -14.16 and a beta of 1.28.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NEO shares. Needham & Company LLC lowered their price objective on NeoGenomics from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Piper Sandler dropped their price target on shares of NeoGenomics from $21.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Jefferies Financial Group began coverage on shares of NeoGenomics in a report on Tuesday, December 10th. They set a “buy” rating and a $22.00 price objective for the company. Bank of America cut their target price on shares of NeoGenomics from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Finally, Benchmark downgraded NeoGenomics from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, NeoGenomics presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.60.

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.