NeoGenomics (NASDAQ:NEO) Trading 7.1% Higher

NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report)'s share price shot up 7.1% on Monday . The company traded as high as $15.21 and last traded at $15.15. 388,634 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 886,004 shares. The stock had previously closed at $14.14.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Needham & Company LLC increased their target price on NeoGenomics from $21.00 to $24.00 and gave the stock a "buy" rating in a research note on Wednesday, February 21st. William Blair reaffirmed an "outperform" rating on shares of NeoGenomics in a research note on Wednesday, February 21st. The Goldman Sachs Group boosted their price objective on shares of NeoGenomics from $17.00 to $19.00 and gave the company a "buy" rating in a research report on Thursday, February 22nd. Finally, Piper Sandler upped their target price on shares of NeoGenomics from $18.00 to $20.00 and gave the stock an "overweight" rating in a research note on Monday, February 26th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $19.50.

NeoGenomics Stock Up 7.6 %

The company's fifty day simple moving average is $15.04 and its 200-day simple moving average is $15.94. The firm has a market capitalization of $1.94 billion, a PE ratio of -21.74 and a beta of 1.10. The company has a debt-to-equity ratio of 0.57, a current ratio of 6.20 and a quick ratio of 5.95.

NeoGenomics (NASDAQ:NEO - Get Free Report) last issued its quarterly earnings results on Tuesday, February 20th. The medical research company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.05. The business had revenue of $155.55 million during the quarter, compared to the consensus estimate of $152.90 million. NeoGenomics had a negative return on equity of 4.13% and a negative net margin of 14.87%. On average, analysts forecast that NeoGenomics, Inc. will post -0.2 EPS for the current year.

Insider Buying and Selling

In other news, General Counsel Alicia C. Olivo sold 2,587 shares of the company's stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $14.96, for a total value of $38,701.52. Following the sale, the general counsel now directly owns 34,866 shares of the company's stock, valued at approximately $521,595.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company's stock.

Institutional Investors Weigh In On NeoGenomics

A number of hedge funds and other institutional investors have recently made changes to their positions in NEO. AE Wealth Management LLC grew its position in shares of NeoGenomics by 14.4% during the 3rd quarter. AE Wealth Management LLC now owns 36,831 shares of the medical research company's stock valued at $453,000 after acquiring an additional 4,646 shares during the period. Brown Advisory Inc. grew its holdings in NeoGenomics by 25.0% in the third quarter. Brown Advisory Inc. now owns 8,246,202 shares of the medical research company's stock valued at $101,428,000 after purchasing an additional 1,651,717 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of NeoGenomics by 17.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,643 shares of the medical research company's stock valued at $315,000 after buying an additional 3,837 shares in the last quarter. BluePath Capital Management LLC acquired a new position in shares of NeoGenomics during the 3rd quarter worth approximately $30,000. Finally, Mackenzie Financial Corp purchased a new position in shares of NeoGenomics during the 3rd quarter valued at approximately $199,000. Institutional investors and hedge funds own 98.50% of the company's stock.

NeoGenomics Company 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.