Shares of NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report) fell 7.7% during mid-day trading on Tuesday after Needham & Company LLC lowered their price target on the stock from $24.00 to $19.00. Needham & Company LLC currently has a buy rating on the stock. NeoGenomics traded as low as $13.70 and last traded at $14.05. 252,873 shares changed hands during trading, a decline of 72% from the average session volume of 903,145 shares. The stock had previously closed at $15.22.
Several other research firms have also recently weighed in on NEO. Piper Sandler boosted their price objective on shares of NeoGenomics from $18.00 to $20.00 and gave the stock an "overweight" rating in a research report on Monday, February 26th. The Goldman Sachs Group raised their target price on shares of NeoGenomics from $17.00 to $19.00 and gave the company a "buy" rating in a research note on Thursday, February 22nd. Finally, William Blair restated an "outperform" rating on shares of NeoGenomics in a report on Wednesday, February 21st. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $18.88.
Check Out Our Latest Stock Analysis on NEO
Insider Transactions at NeoGenomics
In related news, General Counsel Alicia C. Olivo sold 2,587 shares of NeoGenomics stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $14.96, for a total value of $38,701.52. Following the sale, the general counsel now owns 34,866 shares of the company's stock, valued at $521,595.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.30% of the company's stock.
Hedge Funds Weigh In On NeoGenomics
A number of hedge funds and other institutional investors have recently bought and sold shares of NEO. Brown Advisory Inc. boosted its stake in NeoGenomics by 25.0% in the 3rd 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. First Light Asset Management LLC increased its position in NeoGenomics by 29.6% during the 4th quarter. First Light Asset Management LLC now owns 3,926,756 shares of the medical research company's stock worth $63,535,000 after purchasing an additional 897,843 shares in the last quarter. Norges Bank bought a new position in shares of NeoGenomics in the 4th quarter valued at $14,512,000. Schroder Investment Management Group boosted its stake in shares of NeoGenomics by 26.7% during the third quarter. Schroder Investment Management Group now owns 2,513,307 shares of the medical research company's stock valued at $30,914,000 after purchasing an additional 529,178 shares in the last quarter. Finally, Jennison Associates LLC acquired a new position in shares of NeoGenomics in the third quarter valued at approximately $6,176,000. Institutional investors own 98.50% of the company's stock.
NeoGenomics Trading Down 8.5 %
The company has a market cap of $1.78 billion, a price-to-earnings ratio of -19.96 and a beta of 1.10. The business's fifty day moving average price is $15.05 and its 200 day moving average price is $15.96. 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 released its earnings results on Tuesday, February 20th. The medical research company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.05. NeoGenomics had a negative net margin of 14.87% and a negative return on equity of 4.13%. The business had revenue of $155.55 million for the quarter, compared to analyst estimates of $152.90 million. Research analysts anticipate that NeoGenomics, Inc. will post -0.2 earnings per share for the current fiscal year.
NeoGenomics Company Profile
(
Get Free Report)
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.
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