Norges Bank Purchases Shares of 896,885 NeoGenomics, Inc. (NASDAQ:NEO)

Norges Bank purchased a new stake in NeoGenomics, Inc. (NASDAQ:NEOFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 896,885 shares of the medical research company’s stock, valued at approximately $14,512,000. Norges Bank owned approximately 0.70% of NeoGenomics at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of NEO. Victory Capital Management Inc. lifted its holdings in shares of NeoGenomics by 131.1% in the third quarter. Victory Capital Management Inc. now owns 50,134 shares of the medical research company’s stock valued at $617,000 after purchasing an additional 28,438 shares in the last quarter. Jump Financial LLC lifted its holdings in shares of NeoGenomics by 17.6% in the third quarter. Jump Financial LLC now owns 45,634 shares of the medical research company’s stock valued at $561,000 after purchasing an additional 6,824 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of NeoGenomics by 44.9% in the third quarter. Oppenheimer Asset Management Inc. now owns 19,578 shares of the medical research company’s stock valued at $241,000 after purchasing an additional 6,062 shares in the last quarter. Swiss National Bank lifted its holdings in shares of NeoGenomics by 1.0% in the third quarter. Swiss National Bank now owns 280,400 shares of the medical research company’s stock valued at $3,449,000 after purchasing an additional 2,700 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of NeoGenomics by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,004,771 shares of the medical research company’s stock valued at $12,359,000 after purchasing an additional 16,451 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Piper Sandler upped their price objective on shares of NeoGenomics from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, February 26th. The Goldman Sachs Group upped their price objective on shares of NeoGenomics from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Craig Hallum assumed coverage on shares of NeoGenomics in a research note on Wednesday, May 1st. They set a “buy” rating and a $26.00 price objective on the stock. William Blair reissued an “outperform” rating on shares of NeoGenomics in a research note on Wednesday, February 21st. Finally, TD Cowen dropped their price target on shares of NeoGenomics from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.78.

View Our Latest Analysis on NEO

NeoGenomics Price Performance

NeoGenomics stock opened at $13.52 on Tuesday. NeoGenomics, Inc. has a 52-week low of $11.03 and a 52-week high of $21.22. The firm has a fifty day moving average of $14.60 and a 200-day moving average of $15.94. The firm has a market capitalization of $1.73 billion, a P/E ratio of -20.48 and a beta of 1.17. The company has a quick ratio of 7.22, a current ratio of 7.48 and a debt-to-equity ratio of 0.58.

NeoGenomics (NASDAQ:NEOGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.01). NeoGenomics had a negative return on equity of 3.54% and a negative net margin of 13.79%. The business had revenue of $156.24 million during the quarter, compared to analyst estimates of $149.82 million. As a group, analysts predict that NeoGenomics, Inc. will post -0.21 EPS for the current year.

NeoGenomics Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for NeoGenomics (NASDAQ:NEO)

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