NeoGenomics (NASDAQ:NEO) Stock Price Down 4.9% - Should You Sell?

NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report) dropped 4.9% during mid-day trading on Monday . The company traded as low as $9.81 and last traded at $9.77. Approximately 672,744 shares changed hands during mid-day trading, a decline of 30% from the average daily volume of 965,855 shares. The stock had previously closed at $10.27.

Analyst Upgrades and Downgrades

NEO has been the subject of several research reports. Leerink Partners downgraded shares of NeoGenomics from an "outperform" rating to a "market perform" rating and lowered their price objective for the stock from $25.00 to $9.00 in a research note on Wednesday. Benchmark cut NeoGenomics from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. Needham & Company LLC cut their price objective on NeoGenomics from $18.00 to $8.50 and set a "buy" rating on the stock in a report on Tuesday. Leerink Partnrs downgraded NeoGenomics from a "strong-buy" rating to a "hold" rating in a report on Wednesday. Finally, Bank of America cut their price target on shares of NeoGenomics from $19.00 to $16.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $17.05.

NeoGenomics Stock Up 9.2 %

The company has a current ratio of 1.98, a quick ratio of 1.91 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $899.44 million, a price-to-earnings ratio of -11.35 and a beta of 1.41. The firm has a 50 day moving average price of $9.54 and a two-hundred day moving average price of $13.36.

NeoGenomics (NASDAQ:NEO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The medical research company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The company had revenue of $168.04 million for the quarter, compared to analyst estimates of $171.38 million. NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. The business's revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm posted ($0.02) earnings per share. On average, equities analysts expect that NeoGenomics, Inc. will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. raised its holdings in NeoGenomics by 2.7% in the first quarter. Principal Financial Group Inc. now owns 639,411 shares of the medical research company's stock valued at $6,068,000 after acquiring an additional 16,562 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of NeoGenomics in the 1st quarter valued at about $178,000. Allspring Global Investments Holdings LLC lifted its position in shares of NeoGenomics by 54.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 33,461 shares of the medical research company's stock worth $318,000 after purchasing an additional 11,733 shares during the last quarter. HighMark Wealth Management LLC grew its stake in NeoGenomics by 28.7% in the first quarter. HighMark Wealth Management LLC now owns 124,600 shares of the medical research company's stock worth $1,182,000 after purchasing an additional 27,800 shares in the last quarter. Finally, Advisor Resource Council bought a new stake in NeoGenomics in the first quarter valued at about $872,000. Hedge funds and other institutional investors own 98.50% of the company's stock.

NeoGenomics Company Profile

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.