NeoGenomics (NASDAQ:NEO) Sees Strong Trading Volume - What's Next?

Shares of NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 2,007,412 shares changed hands during mid-day trading, an increase of 61% from the previous session's volume of 1,250,713 shares.The stock last traded at $7.17 and had previously closed at $7.01.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NEO. Leerink Partners cut NeoGenomics from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $25.00 to $9.00 in a report on Wednesday, April 30th. Morgan Stanley dropped their price objective on NeoGenomics from $17.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Needham & Company LLC cut their price objective on NeoGenomics from $18.00 to $8.50 and set a "buy" rating for the company in a report on Tuesday, April 29th. Guggenheim initiated coverage on NeoGenomics in a report on Thursday, May 15th. They set a "neutral" rating on the stock. Finally, Wall Street Zen upgraded shares of NeoGenomics from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $13.83.

NeoGenomics Trading Up 2.9%

The company has a current ratio of 2.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.38. The stock has a market cap of $927.93 million, a price-to-earnings ratio of -11.82 and a beta of 1.65. The company has a fifty day simple moving average of $7.96 and a 200-day simple moving average of $11.27.

NeoGenomics (NASDAQ:NEO - Get Free Report) last released its earnings results on Tuesday, April 29th. The medical research company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The firm had revenue of $168.04 million during the quarter, compared to analysts' expectations of $171.38 million. NeoGenomics had a negative return on equity of 2.21% and a negative net margin of 11.54%. The business's revenue was up 7.6% on a year-over-year basis. During the same period last year, the business earned ($0.02) earnings per share. On average, research analysts forecast that NeoGenomics, Inc. will post -0.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Warren Stone bought 5,700 shares of the company's stock in a transaction on Monday, May 12th. The shares were bought at an average cost of $8.58 per share, with a total value of $48,906.00. Following the transaction, the chief operating officer now directly owns 108,280 shares in the company, valued at approximately $929,042.40. This trade represents a 5.56% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jeffrey Scott Sherman acquired 20,000 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was purchased at an average price of $7.51 per share, for a total transaction of $150,200.00. Following the acquisition, the chief financial officer now directly owns 158,494 shares of the company's stock, valued at $1,190,289.94. The trade was a 14.44% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 70,600 shares of company stock worth $550,438. 2.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers grew its holdings in NeoGenomics by 2.4% during the fourth quarter. Rhumbline Advisers now owns 389,003 shares of the medical research company's stock valued at $6,411,000 after purchasing an additional 9,098 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of NeoGenomics by 3.1% during the 4th quarter. Principal Financial Group Inc. now owns 622,849 shares of the medical research company's stock worth $10,265,000 after buying an additional 18,455 shares during the period. Handelsbanken Fonder AB grew its stake in NeoGenomics by 12.3% in the 4th quarter. Handelsbanken Fonder AB now owns 28,300 shares of the medical research company's stock valued at $466,000 after buying an additional 3,100 shares during the last quarter. Bank of New York Mellon Corp grew its stake in NeoGenomics by 1.8% in the 4th quarter. Bank of New York Mellon Corp now owns 849,752 shares of the medical research company's stock valued at $14,004,000 after buying an additional 15,269 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in NeoGenomics in the 4th quarter worth $372,000. Institutional investors own 98.50% of the company's stock.

About NeoGenomics

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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