NeoGenomics (NASDAQ:NEO) Reaches New 1-Year High - Here's What Happened

Key Points

• NeoGenomics shares reached a new 52-week high, trading as high as $16.34 and closing activity near $15.84, up 3.6% from the prior close.
• Analyst sentiment is broadly positive: seven analysts rate the stock a Buy, three a Hold and one a Sell, producing a consensus rating of “Moderate Buy” and an average price target of $16.71.
• The company exceeded quarterly expectations, reporting $0.05 in adjusted EPS versus $0.03 expected and revenue of $201.66 million, up 11.2% year over year, although it still posted negative net margins and analysts expect a full-year loss.

NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as $16.34 and last traded at $15.84, with a volume of 2973924 shares changing hands. The stock had previously closed at $15.29.

Analyst Ratings Changes

NEO has been the topic of several analyst reports. Craig Hallum reaffirmed a "buy" rating and issued a $19.00 price objective on shares of NeoGenomics in a research report on Wednesday, July 29th. Benchmark lifted their target price on NeoGenomics from $11.00 to $16.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Wall Street Zen upgraded NeoGenomics from a "hold" rating to a "buy" rating in a research note on Saturday, June 27th. Weiss Ratings raised NeoGenomics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, July 14th. Finally, Leerink Partners raised NeoGenomics from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $12.00 to $25.00 in a research report on Wednesday, April 29th. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, NeoGenomics presently has a consensus rating of "Moderate Buy" and an average price target of $16.71.

NeoGenomics Trading Up 3.6%

The company has a market cap of $2.04 billion, a P/E ratio of -39.60 and a beta of 1.74. The stock's 50-day moving average is $12.91 and its two-hundred day moving average is $10.73. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.60 and a quick ratio of 3.35.

NeoGenomics (NASDAQ:NEO - Get Free Report) last posted its earnings results on Tuesday, July 28th. The medical research company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.02. The business had revenue of $201.66 million during the quarter, compared to the consensus estimate of $196.93 million. NeoGenomics had a negative net margin of 6.77% and a negative return on equity of 1.99%. The firm's revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 EPS. As a group, equities research analysts predict that NeoGenomics, Inc. will post -0.15 earnings per share for the current fiscal year.

Insider Activity at NeoGenomics

In related news, Director Lynn A. Tetrault sold 5,307 shares of the company's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $11.29, for a total transaction of $59,916.03. Following the completion of the sale, the director owned 91,422 shares in the company, valued at approximately $1,032,154.38. This represents a 5.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On NeoGenomics

A number of large investors have recently made changes to their positions in the company. First Trust Advisors LP purchased a new stake in shares of NeoGenomics in the 1st quarter worth $45,725,000. Loomis Sayles & Co. L P purchased a new position in NeoGenomics during the fourth quarter valued at $19,182,000. American Capital Management Inc. lifted its position in NeoGenomics by 120.9% during the third quarter. American Capital Management Inc. now owns 2,345,263 shares of the medical research company's stock valued at $18,105,000 after purchasing an additional 1,283,390 shares in the last quarter. Aberdeen Group plc grew its holdings in NeoGenomics by 127.1% during the fourth quarter. Aberdeen Group plc now owns 1,798,939 shares of the medical research company's stock valued at $21,156,000 after purchasing an additional 1,006,676 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its holdings in NeoGenomics by 69.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,218,727 shares of the medical research company's stock valued at $26,093,000 after purchasing an additional 912,788 shares during the period. 98.50% of the stock is currently owned by institutional investors.

NeoGenomics Company Profile

NeoGenomics, traded on the Nasdaq under the symbol NEO, is a leading provider of cancer-focused genetic and molecular testing services. Headquartered in Fort Myers, Florida, the company operates an integrated network of CAP-accredited and CLIA-certified laboratories across the United States, Europe and Asia. NeoGenomics delivers diagnostic insights that support oncologists, pathologists and healthcare institutions in the detection, prognosis and treatment of hematologic and solid tumor cancers.

The company's core service offerings include flow cytometry, immunohistochemistry, fluorescence in situ hybridization (FISH), karyotyping and advanced molecular assays such as next-generation sequencing (NGS) panels and polymerase chain reaction (PCR) tests.

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