Norges Bank Takes Position in NeoGenomics, Inc. (NASDAQ:NEO)

Norges Bank acquired a new stake in shares of NeoGenomics, Inc. (NASDAQ:NEO - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 380,664 shares of the medical research company's stock, valued at approximately $6,273,000. Norges Bank owned 0.30% of NeoGenomics at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in NEO. PNC Financial Services Group Inc. boosted its stake in shares of NeoGenomics by 5.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 15,610 shares of the medical research company's stock valued at $257,000 after purchasing an additional 770 shares in the last quarter. FMR LLC boosted its position in NeoGenomics by 7.6% during the 3rd quarter. FMR LLC now owns 13,255 shares of the medical research company's stock valued at $196,000 after acquiring an additional 931 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of NeoGenomics by 33.2% during the 4th quarter. Blue Trust Inc. now owns 4,421 shares of the medical research company's stock worth $73,000 after acquiring an additional 1,103 shares during the period. Versant Capital Management Inc raised its position in shares of NeoGenomics by 174.9% in the 4th quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company's stock worth $30,000 after acquiring an additional 1,142 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in shares of NeoGenomics in the 4th quarter valued at approximately $26,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NEO has been the topic of several recent research reports. Bank of America reduced their price target on NeoGenomics from $19.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Benchmark lowered shares of NeoGenomics from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. The Goldman Sachs Group dropped their price objective on shares of NeoGenomics from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. Needham & Company LLC decreased their target price on shares of NeoGenomics from $19.00 to $18.00 and set a "buy" rating for the company in a research note on Wednesday, February 19th. Finally, Piper Sandler lowered their target price on shares of NeoGenomics from $21.00 to $18.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, NeoGenomics has an average rating of "Moderate Buy" and a consensus price target of $19.60.

NeoGenomics Stock Down 0.5 %

NASDAQ NEO traded down $0.05 during mid-day trading on Tuesday, reaching $9.67. The stock had a trading volume of 90,109 shares, compared to its average volume of 940,135. The stock has a market cap of $1.24 billion, a PE ratio of -15.59 and a beta of 1.41. NeoGenomics, Inc. has a 1 year low of $8.05 and a 1 year high of $19.12. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.98 and a quick ratio of 1.91. The company has a fifty day moving average price of $10.50 and a 200 day moving average price of $13.74.

NeoGenomics (NASDAQ:NEO - Get Free Report) last issued its earnings results 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 business had revenue of $172.00 million during the quarter, compared to analysts' expectations of $173.40 million. NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. On average, research analysts expect that NeoGenomics, Inc. will post -0.2 earnings per share for the current year.

NeoGenomics Company 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.