NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report) hit a new 52-week low during trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $5.00 and last traded at $5.41, with a volume of 1442341 shares trading hands. The stock had previously closed at $6.46.
The medical research company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.06). The firm had revenue of $168.04 million for the quarter, compared to the consensus estimate of $171.38 million. NeoGenomics had a negative return on equity of 2.72% and a negative net margin of 15.10%. The business's revenue was up 7.6% on a year-over-year basis. During the same period last year, the company posted ($0.02) EPS.
Analyst Ratings Changes
A number of analysts recently weighed in on NEO shares. Needham & Company LLC decreased their target price on shares of NeoGenomics from $8.50 to $8.00 and set a "buy" rating on the stock in a report on Tuesday. Leerink Partners lowered shares of NeoGenomics from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $25.00 to $9.00 in a report on Wednesday, April 30th. BTIG Research reaffirmed a "neutral" rating on shares of NeoGenomics in a report on Wednesday. Leerink Partnrs cut shares of NeoGenomics from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Finally, The Goldman Sachs Group cut their price target on shares of NeoGenomics from $15.00 to $10.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, NeoGenomics has an average rating of "Hold" and an average price target of $13.56.
View Our Latest Stock Report on NeoGenomics
Insider Buying and Selling at NeoGenomics
In related news, COO Warren Stone acquired 5,700 shares of the firm's stock in a transaction on Monday, May 12th. The stock was acquired at an average cost of $8.58 per share, for a total transaction of $48,906.00. Following the acquisition, the chief operating officer owned 108,280 shares of the company's stock, valued at $929,042.40. This trade represents a 5.56% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Stephen M. Kanovsky purchased 4,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was acquired at an average price of $7.78 per share, with a total value of $31,120.00. Following the completion of the purchase, the director owned 40,090 shares in the company, valued at $311,900.20. This represents a 11.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 70,600 shares of company stock worth $550,438 over the last ninety days. 2.40% of the stock is owned by company insiders.
Hedge Funds Weigh In On NeoGenomics
A number of institutional investors and hedge funds have recently made changes to their positions in NEO. Raymond James Financial Inc. purchased a new position in NeoGenomics during the fourth quarter worth $839,000. KLP Kapitalforvaltning AS purchased a new stake in shares of NeoGenomics during the fourth quarter valued at $453,000. Vanguard Group Inc. boosted its stake in shares of NeoGenomics by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 14,239,887 shares of the medical research company's stock valued at $234,673,000 after purchasing an additional 195,793 shares during the period. Norges Bank purchased a new stake in shares of NeoGenomics during the fourth quarter valued at $6,273,000. Finally, Wells Fargo & Company MN boosted its stake in shares of NeoGenomics by 7.7% during the fourth quarter. Wells Fargo & Company MN now owns 84,391 shares of the medical research company's stock valued at $1,391,000 after purchasing an additional 6,055 shares during the period. Hedge funds and other institutional investors own 98.50% of the company's stock.
NeoGenomics Price Performance
The stock has a market capitalization of $656.37 million, a PE ratio of -6.30 and a beta of 1.63. The company has a quick ratio of 1.95, a current ratio of 3.92 and a debt-to-equity ratio of 0.40. The stock's 50 day moving average price is $7.08 and its 200-day moving average price is $9.42.
About NeoGenomics
(
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.
Further Reading
Before you consider NeoGenomics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NeoGenomics wasn't on the list.
While NeoGenomics currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.