November 29, 2023

Kardama

Moving Forward

Swiss National Bank Adjusts Holdings in NeoGenomics, Inc.: A Strategic Investment Decision

On September 1, 2023, it was reported that the Swiss National Bank has decreased its position in shares of NeoGenomics, Inc. The bank sold approximately 29,600 shares during the first quarter of the year, representing a reduction of 10.3% in its ownership. As disclosed to the Securities & Exchange Commission, the Swiss National Bank’s holdings of NeoGenomics now amount to 258,900 shares.

At the end of the reporting period, these shares were valued at around $4,507,000. Despite this decrease in ownership percentage, Swiss National Bank still maintains ownership equivalent to approximately 0.20% of NeoGenomics’ total worth.

NeoGenomics is a medical research company that operates a network of cancer-focused testing laboratories across different regions including the United States, Europe, and Asia. The company serves various entities such as hospitals, reference labs, pathologists, oncologists, clinicians, pharmaceutical firms, and researchers.

Specializing in both Clinical Services and Pharma Services segments, NeoGenomics offers comprehensive testing services that contribute to advancements in cancer diagnosis and treatment. This includes providing essential information to aid healthcare professionals and researchers in their efforts to combat cancer.

The decision by Swiss National Bank to reduce its ownership stake in NeoGenomics can be seen as part of a normal portfolio adjustment strategy undertaken by institutional investors based on various factors such as market conditions and investment objectives. It is worth noting that changes like these are regularly made by institutions like Swiss National Bank who manage significant investment portfolios on behalf of their stakeholders.

Investors and market observers interested in analyzing stocks may find value in conducting a thorough stock analysis on NeoGenomics. Such an analysis can provide insights into key financial metrics related to the company’s performance and help assess its potential for growth or overall stability.

As always with investments in stocks or any other financial instruments, it is important for individuals or institutional investors alike to exercise caution and do their due diligence before making any decisions. Consulting with a licensed financial professional, who can offer personalized advice tailored to individual circumstances, is recommended.

Ultimately, the adjustment in Swiss National Bank’s position on NeoGenomics reflects a carefully considered investment decision within a larger portfolio strategy. While the change in ownership may attract attention from investors and analysts, it is important to remember that institutional investors often make adjustments to optimize their investment portfolios based on thorough analysis and market dynamics.

NeoGenomics, Inc.

NEO

Buy

Updated on: 05/09/2023

Price Target

Current $14.16

Concensus $22.86


Low $15.00

Median $18.00

High $54.00

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Social Sentiments

2:00 PM (UTC)

Date:05 September, 2023

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Analyst Ratings

Analyst / firm Rating
Mason Carrico
Stephens
Buy
David Westenberg
Piper Sandler
Buy
Morgan Stanley Buy
Goldman Sachs Buy
Needham Buy

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Ownership Stakes in NeoGenomics Change as Hedge Funds and Institutional Investors Show Interest in Potential Investment Opportunity


NeoGenomics, Inc. (NASDAQ: NEO) has recently seen changes in its ownership stakes as several hedge funds have either increased or reduced their positions in the company. Tower Research Capital LLC TRC, for example, grew its stake in NeoGenomics by a staggering 165.6% during the first quarter of this year. Brown Advisory Inc. also lifted its position in the medical research company by 2.9% during the same period.

Tower Research Capital LLC TRC now owns 3,312 shares of NeoGenomics’ stock valued at $58,000 after purchasing an additional 2,065 shares. Similarly, Brown Advisory Inc.’s stake is now valued at $114,753,000 after adding 187,219 shares to their holdings during the last quarter.

Zurcher Kantonalbank Zurich Cantonalbank, another notable institutional investor, grew its holdings in NeoGenomics by 12.9%, bringing its total share count to 21,806 shares worth $380,000.

These recent changes in ownership are indicative of the interest and confidence that these hedge funds and institutional investors have in NeoGenomics as a potential investment opportunity.

However, it’s important to note that not all news surrounding NeoGenomics has been positive. A number of brokerages have weighed in on the company’s performance and prospects.

Needham & Company LLC reiterated a “buy” rating for NeoGenomics and assigned it a target price of $21.00 a share. Piper Sandler also raised their price target from $20.00 to $23.00.

Conversely, Morgan Stanley lowered their target price from $19.00 to $18.00 and maintained an “equal weight” rating for the stock.

Despite varying opinions from analysts and researchers alike, Bloomberg data indicates that the current consensus rating for NeoGenomics is “Moderate Buy” with an average target price of $19.18.

Shares of NeoGenomics opened at $15.03 on Friday, September 1, with a market capitalization of $1.92 billion. The company has a price-to-earnings ratio of -16.34 and a beta of 1.06.

NeoGenomics’s current share value is relatively low compared to its 52-week high of $20.54 and high above its 52-week low of $6.00.

The medical research company reported better than expected quarterly earnings results on Tuesday, August 8th. With earnings per share (EPS) of ($0.09), NeoGenomics surpassed the consensus estimate of ($0.15) by $0.06.

Despite reporting positive earnings, the company still had a negative return on equity and a negative net margin for the quarter, indicating potential challenges ahead.

NeoGenomics generated revenue of $146.92 million during the quarter, outperforming analysts’ expectations of $138.22 million.

Based on these financial results and projections from research analysts, it is estimated that NeoGenomics will post an EPS of -0.44 for the current fiscal year.

In conclusion, NeoGenomics has experienced recent changes in ownership stakes by hedge funds and institutional investors, showcasing their belief in the company’s potential growth prospects.

Although there are mixed opinions among brokerages regarding NeoGenomics’ stock performance and future outlook, it is evident that there is significant interest in the company given the average target price from Bloomberg data.

Investors should exercise caution as they consider investing in NeoGenomics due to factors such as its negative return on equity and net margin despite beating earnings expectations.