NeoGenomics (NASDAQ:NEO) Stock Price Up 7.8% - Time to Buy?

Shares of NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report) rose 7.8% on Monday . The company traded as high as $10.07 and last traded at $10.05. Approximately 193,567 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 936,063 shares. The stock had previously closed at $9.32.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Needham & Company LLC decreased their target price on NeoGenomics from $19.00 to $18.00 and set a "buy" rating for the company in a report on Wednesday, February 19th. The Goldman Sachs Group decreased their price objective on shares of NeoGenomics from $17.00 to $15.00 and set a "buy" rating for the company in a report on Thursday. Bank of America cut their target price on shares of NeoGenomics from $19.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Benchmark lowered shares of NeoGenomics from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Finally, Piper Sandler reduced their target price on NeoGenomics from $21.00 to $18.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $19.30.

NeoGenomics Price Performance

The firm has a 50 day moving average of $10.19 and a two-hundred day moving average of $13.61. The company has a market cap of $1.23 billion, a PE ratio of -15.40 and a beta of 1.41. The company has a current ratio of 1.98, a quick ratio of 1.91 and a debt-to-equity ratio of 0.38.

NeoGenomics (NASDAQ:NEO - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The medical research company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.05). The firm had revenue of $172.00 million during the quarter, compared to analysts' expectations of $173.40 million. NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. Research analysts predict that NeoGenomics, Inc. will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NeoGenomics

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in NeoGenomics by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 14,239,887 shares of the medical research company's stock valued at $234,673,000 after acquiring an additional 195,793 shares during the period. Greenhouse Funds LLLP raised its holdings in shares of NeoGenomics by 5.3% during the fourth quarter. Greenhouse Funds LLLP now owns 4,701,897 shares of the medical research company's stock valued at $77,487,000 after purchasing an additional 237,491 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in NeoGenomics by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,436,858 shares of the medical research company's stock valued at $56,645,000 after purchasing an additional 78,211 shares during the period. First Light Asset Management LLC boosted its holdings in NeoGenomics by 3.0% in the fourth quarter. First Light Asset Management LLC now owns 3,167,585 shares of the medical research company's stock worth $52,202,000 after purchasing an additional 91,030 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in NeoGenomics by 1.2% in the third quarter. Geode Capital Management LLC now owns 3,051,806 shares of the medical research company's stock worth $45,022,000 after purchasing an additional 36,136 shares during the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

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.