NeoGenomics (NASDAQ:NEO) Sets New 12-Month High - Here's What Happened

Shares of NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $17.46 and last traded at $17.37, with a volume of 1679789 shares. The stock had previously closed at $16.79.

Analyst Ratings Changes

Several equities analysts have commented on the company. Craig Hallum reaffirmed a "buy" rating and issued a $19.00 price target on shares of NeoGenomics in a report on Wednesday, July 29th. TD Cowen reissued a "buy" rating on shares of NeoGenomics in a research note on Wednesday, July 15th. Weiss Ratings upgraded NeoGenomics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, July 14th. Needham & Company LLC upped their price target on NeoGenomics from $15.00 to $19.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. Finally, Wall Street Zen upgraded NeoGenomics from a "hold" rating to a "buy" rating in a research note on Saturday, June 27th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.71.

NeoGenomics Price Performance

The business has a fifty day moving average of $14.87 and a 200 day moving average of $11.20. The firm has a market cap of $2.23 billion, a P/E ratio of -43.42 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 released its quarterly earnings results on Tuesday, July 28th. The medical research company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.02. NeoGenomics had a negative return on equity of 1.99% and a negative net margin of 6.77%.The business had revenue of $201.66 million during the quarter, compared to analysts' expectations of $196.93 million. During the same period last year, the firm posted $0.03 EPS. The firm's revenue for the quarter was up 11.2% compared to the same quarter last year. On average, sell-side analysts anticipate that NeoGenomics, Inc. will post -0.09 earnings per share for the current year.

Insider Activity

In other news, Director Lynn A. Tetrault sold 5,307 shares of the business's stock in a transaction 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 of the company's stock, valued at approximately $1,032,154.38. The trade was a 5.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC bought a new stake in NeoGenomics in the second quarter valued at approximately $32,000. Caitong International Asset Management Co. Ltd increased its position in shares of NeoGenomics by 110.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,968 shares of the medical research company's stock worth $35,000 after buying an additional 1,556 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of NeoGenomics during the fourth quarter worth $39,000. Smartleaf Asset Management LLC raised its stake in NeoGenomics by 77.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,466 shares of the medical research company's stock worth $42,000 after buying an additional 1,515 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in NeoGenomics by 113.8% in the fourth quarter. Van ECK Associates Corp now owns 4,921 shares of the medical research company's stock valued at $58,000 after buying an additional 2,619 shares during the period. Institutional investors own 98.50% of the company's stock.

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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