NeoGenomics (NASDAQ:NEO) Sets New 1-Year High - Should You Buy?

Key Points

• NeoGenomics shares reached a new 52-week high of $16.64, with the stock recently trading near $16.51. Analysts have a “Moderate Buy” consensus rating and an average price target of $16.71, though targets range as high as $25.
• The company exceeded quarterly expectations, reporting adjusted EPS of $0.05 versus the $0.03 consensus and revenue of $201.66 million, up 11.2% year over year. However, NeoGenomics remains unprofitable, with a negative net margin and analysts forecasting a full-year loss.
• Institutional investors own a substantial 98.5% of outstanding shares, with several firms recently increasing their positions. A director also sold shares under a pre-arranged Rule 10b5-1 trading plan.

NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report) shares hit a new 52-week high during trading on Monday . The company traded as high as $16.64 and last traded at $16.5080, with a volume of 1224 shares trading hands. The stock had previously closed at $16.57.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NEO. Leerink Partners raised NeoGenomics from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $12.00 to $25.00 in a research report on Wednesday, April 29th. Weiss Ratings raised NeoGenomics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, July 14th. Zacks Research upgraded NeoGenomics from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 31st. Wall Street Zen raised NeoGenomics from a "hold" rating to a "buy" rating in a report on Saturday, June 27th. Finally, TD Cowen restated a "buy" rating on shares of NeoGenomics in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $16.71.

NeoGenomics Stock Performance

The firm has a market cap of $2.17 billion, a P/E ratio of -42.06 and a beta of 1.74. The stock's 50 day moving average is $13.40 and its two-hundred day moving average is $10.82. 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 quarterly earnings results on Tuesday, July 28th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. The firm had revenue of $201.66 million during the quarter, compared to analyst estimates of $196.93 million. NeoGenomics had a negative net margin of 6.77% and a negative return on equity of 1.99%. The company's quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.03 earnings per share. As a group, equities analysts predict that NeoGenomics, Inc. will post -0.09 EPS for the current year.

Insider Activity

In related news, Director Lynn A. Tetrault sold 5,307 shares of the firm's stock in a transaction that occurred 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 transaction, the director owned 91,422 shares in the company, valued at $1,032,154.38. This trade represents a 5.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.10% of the company's stock.

Institutional Trading of NeoGenomics

A number of large investors have recently bought and sold shares of NEO. Sei Investments Co. increased its position in shares of NeoGenomics by 320.7% during the 1st quarter. Sei Investments Co. now owns 466,199 shares of the medical research company's stock worth $3,459,000 after purchasing an additional 355,379 shares in the last quarter. Granite Investment Partners LLC acquired a new position in NeoGenomics in the first quarter valued at about $5,583,000. MFG Wealth Management Inc. acquired a new position in NeoGenomics in the second quarter valued at about $1,218,000. Dimensional Fund Advisors LP grew its stake in NeoGenomics by 9.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,674,335 shares of the medical research company's stock worth $19,842,000 after buying an additional 225,588 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its stake in NeoGenomics by 525.0% during the first quarter. Gamco Investors INC. ET AL now owns 100,000 shares of the medical research company's stock worth $742,000 after buying an additional 84,000 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

About NeoGenomics

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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