NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report) reached a new 52-week high during trading on Friday . The stock traded as high as $16.98 and last traded at $16.93, with a volume of 335879 shares trading hands. The stock had previously closed at $16.53.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on NEO shares. Zacks Research upgraded NeoGenomics from a "hold" rating to a "strong-buy" rating in a report on Friday, July 31st. TD Cowen reaffirmed a "buy" rating on shares of NeoGenomics in a report on Wednesday, July 15th. Leerink Partners upgraded shares of NeoGenomics from a "market perform" rating to an "outperform" rating and increased their target price for the company from $12.00 to $25.00 in a research report on Wednesday, April 29th. Weiss Ratings raised shares of NeoGenomics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, July 14th. Finally, Needham & Company LLC boosted their price target on shares of NeoGenomics from $15.00 to $19.00 and gave the stock a "buy" rating in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $16.71.
Check Out Our Latest Stock Report on NeoGenomics
NeoGenomics Stock Performance
The stock has a 50-day moving average of $14.38 and a 200 day moving average of $11.06. The stock has a market cap of $2.18 billion, a PE ratio of -42.47 and a beta of 1.74. The company has a quick ratio of 3.35, a current ratio of 3.60 and a debt-to-equity ratio of 0.48.
NeoGenomics (NASDAQ:NEO - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The medical research company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.02. NeoGenomics had a negative net margin of 6.77% and a negative return on equity of 1.99%. The firm had revenue of $201.66 million for the quarter, compared to analysts' expectations of $196.93 million. During the same quarter in the previous year, the company posted $0.03 EPS. The company's revenue was up 11.2% compared to the same quarter last year. Equities analysts predict that NeoGenomics, Inc. will post -0.09 EPS for the current fiscal year.
Insider Buying and Selling
In other NeoGenomics news, Director Lynn A. Tetrault sold 5,307 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $11.29, for a total transaction of $59,916.03. Following the completion of the transaction, the director owned 91,422 shares of the company's stock, valued at $1,032,154.38. This trade represents a 5.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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.
Hedge Funds Weigh In On NeoGenomics
A number of hedge funds have recently made changes to their positions in NEO. First Light Asset Management LLC raised its position in NeoGenomics by 1.1% in the fourth quarter. First Light Asset Management LLC now owns 10,035,063 shares of the medical research company's stock valued at $118,012,000 after purchasing an additional 107,794 shares during the period. First Trust Advisors LP purchased a new stake in shares of NeoGenomics in the 1st quarter valued at $45,725,000. Geode Capital Management LLC lifted its stake in NeoGenomics by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 3,176,644 shares of the medical research company's stock worth $37,364,000 after acquiring an additional 44,733 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in NeoGenomics by 9.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,674,335 shares of the medical research company's stock worth $19,842,000 after acquiring an additional 225,588 shares in the last quarter. Finally, American Capital Management Inc. boosted its holdings in NeoGenomics by 120.9% during the 3rd quarter. American Capital Management Inc. now owns 2,345,263 shares of the medical research company's stock valued at $18,105,000 after acquiring an additional 1,283,390 shares during the period. Hedge funds and other institutional investors own 98.50% of the company's stock.
About NeoGenomics
(
Get Free Report)
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.
Further Reading
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