946,025 Shares in NeoGenomics, Inc. (NASDAQ:NEO) Purchased by Bellevue Group AG

Bellevue Group AG purchased a new position in NeoGenomics, Inc. (NASDAQ:NEO) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 946,025 shares of the medical research company’s stock, valued at approximately $14,872,000. Bellevue Group AG owned approximately 0.74% of NeoGenomics at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its stake in NeoGenomics by 0.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 645,492 shares of the medical research company’s stock worth $10,148,000 after purchasing an additional 4,528 shares in the last quarter. Gabelli Funds LLC bought a new position in NeoGenomics during the 1st quarter valued at about $283,000. CANADA LIFE ASSURANCE Co lifted its stake in NeoGenomics by 4.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 142,809 shares of the medical research company’s stock valued at $2,245,000 after acquiring an additional 6,148 shares during the period. Texas Capital Bank Wealth Management Services Inc bought a new position in NeoGenomics during the 1st quarter valued at about $314,000. Finally, Edgestream Partners L.P. bought a new position in NeoGenomics during the 1st quarter valued at about $1,894,000. Institutional investors own 98.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. TD Cowen lowered their target price on shares of NeoGenomics from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Needham & Company LLC lowered their target price on shares of NeoGenomics from $24.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Benchmark restated a “buy” rating and set a $18.00 target price on shares of NeoGenomics in a research note on Wednesday, May 1st. Craig Hallum began coverage on shares of NeoGenomics in a research note on Wednesday, May 1st. They set a “buy” rating and a $26.00 target price on the stock. Finally, BTIG Research lowered their price objective on shares of NeoGenomics from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $19.78.

NeoGenomics Stock Performance

NeoGenomics stock traded down $0.20 during midday trading on Friday, hitting $14.88. The stock had a trading volume of 833,547 shares, compared to its average volume of 719,255. The firm’s fifty day moving average is $13.93 and its two-hundred day moving average is $14.69. The company has a market capitalization of $1.90 billion, a PE ratio of -22.55 and a beta of 1.19. NeoGenomics, Inc. has a 52-week low of $11.03 and a 52-week high of $21.22. The company has a current ratio of 7.48, a quick ratio of 7.22 and a debt-to-equity ratio of 0.58.

NeoGenomics (NASDAQ:NEO) last released its earnings results 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). The firm had revenue of $156.24 million during the quarter, compared to analysts’ expectations of $149.82 million. NeoGenomics had a negative return on equity of 3.54% and a negative net margin of 13.79%. On average, research analysts forecast that NeoGenomics, Inc. will post -0.21 EPS for the current year.

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.