NeoGenomics, Inc. (NASDAQ:NEO) Position Boosted by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its stake in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 47.0% during the 2nd quarter, HoldingsChannel.com reports. The firm 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 SEC filing.

Several other large investors have also modified their holdings of NEO. Norges Bank bought a new position in shares of NeoGenomics during the fourth quarter worth about $14,512,000. TD Asset Management Inc lifted its position in shares of NeoGenomics by 14.3% during the fourth quarter. TD Asset Management Inc now owns 184,000 shares of the medical research company’s stock worth $2,977,000 after purchasing an additional 23,000 shares during the last quarter. Allianz Asset Management GmbH raised its stake in NeoGenomics by 23.8% during the fourth quarter. Allianz Asset Management GmbH now owns 284,394 shares of the medical research company’s stock worth $4,601,000 after acquiring an additional 54,669 shares during the period. First Light Asset Management LLC raised its stake in NeoGenomics by 29.6% during the fourth quarter. First Light Asset Management LLC now owns 3,926,756 shares of the medical research company’s stock worth $63,535,000 after acquiring an additional 897,843 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in NeoGenomics by 27.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,434 shares of the medical research company’s stock worth $136,000 after acquiring an additional 1,791 shares during the period. Institutional investors own 98.50% of the company’s stock.

NeoGenomics Price Performance

Shares of NASDAQ:NEO opened at $13.81 on Wednesday. The firm’s 50 day moving average is $16.06 and its two-hundred day moving average is $14.92. NeoGenomics, Inc. has a 52 week low of $11.03 and a 52 week high of $21.22. The firm has a market capitalization 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.

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on NEO. Needham & Company LLC reiterated a “buy” rating and set a $19.00 price objective on shares of NeoGenomics in a research note on Wednesday, September 25th. Benchmark reiterated a “buy” rating and set a $18.00 price objective on shares of NeoGenomics in a research note on Tuesday, September 24th. Finally, Stephens reiterated an “overweight” rating and set a $19.00 price objective on shares of NeoGenomics in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.