Hsbc Holdings PLC Boosts Stake in NeoGenomics, Inc. (NASDAQ:NEO)

Hsbc Holdings PLC boosted its stake in NeoGenomics, Inc. (NASDAQ:NEO) by 47.0% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,581 shares of the medical research company’s stock after buying an additional 10,732 shares during the quarter. Hsbc Holdings PLC’s holdings in NeoGenomics were worth $466,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NEO. Blue Trust Inc. lifted its stake in NeoGenomics by 107.2% in the 2nd quarter. Blue Trust Inc. now owns 2,331 shares of the medical research company’s stock valued at $32,000 after buying an additional 1,206 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in NeoGenomics by 27.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,434 shares of the medical research company’s stock valued at $136,000 after buying an additional 1,791 shares in the last quarter. Banque Cantonale Vaudoise lifted its stake in NeoGenomics by 10.2% in the 2nd quarter. Banque Cantonale Vaudoise now owns 17,575 shares of the medical research company’s stock valued at $244,000 after buying an additional 1,633 shares in the last quarter. Gabelli Funds LLC acquired a new position in NeoGenomics in the 1st quarter valued at $283,000. Finally, Texas Capital Bank Wealth Management Services Inc acquired a new position in NeoGenomics in the 1st quarter valued at $314,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

NeoGenomics Stock Down 6.4 %

Shares of NASDAQ NEO opened at $13.81 on Wednesday. NeoGenomics, Inc. has a 12-month low of $11.03 and a 12-month high of $21.22. The company has a market cap of $1.76 billion, a P/E ratio of -20.92 and a beta of 1.19. The company has a current ratio of 2.01, a quick ratio of 1.93 and a debt-to-equity ratio of 0.37. The stock has a fifty day moving average price of $16.06 and a 200 day moving average price of $14.92.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings results on Monday, July 29th. The medical research company reported $0.03 earnings per share (EPS) for the quarter. NeoGenomics had a negative return on equity of 2.72% and a negative net margin of 12.50%. The firm had revenue of $164.50 million during the quarter, compared to the consensus estimate of $161.82 million. During the same period in the prior year, the firm earned ($0.09) EPS. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. Research analysts anticipate that NeoGenomics, Inc. will post -0.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NEO shares. Stephens reiterated an “overweight” rating and issued a $19.00 price target on shares of NeoGenomics in a report on Tuesday, July 30th. Benchmark reiterated a “buy” rating and issued a $18.00 price target on shares of NeoGenomics in a report on Tuesday, September 24th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price target on shares of NeoGenomics in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.89.

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.