NeoGenomics (NASDAQ:NEO) Sets New 52-Week High - Should You Buy?

Key Points

• NeoGenomics shares reached a new 52-week high of $19.81, up from a previous close of $18.94, with the stock last trading near $19.78.
• Analysts have generally turned more bullish, with a consensus “Moderate Buy” rating and an average price target of $17.67; several firms recently raised targets to $19.
• The company beat quarterly earnings and revenue expectations, reporting $0.05 in EPS and $201.66 million in revenue, while revenue increased 11.2% year over year. Institutional investors own 98.5% of the stock.

NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $19.81 and last traded at $19.7750, with a volume of 470027 shares traded. The stock had previously closed at $18.94.

Analysts Set New Price Targets

Several brokerages have commented on NEO. Craig Hallum reiterated a "buy" rating and issued a $19.00 target price on shares of NeoGenomics in a report on Wednesday, July 29th. Benchmark raised their price target on NeoGenomics from $11.00 to $16.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Wall Street Zen upgraded shares of NeoGenomics from a "hold" rating to a "buy" rating in a report on Saturday, June 27th. Weiss Ratings raised NeoGenomics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, July 14th. Finally, Needham & Company LLC lifted their price objective on NeoGenomics from $15.00 to $19.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $17.67.

NeoGenomics Price Performance

The company has a market cap of $2.52 billion, a price-to-earnings ratio of -49.05 and a beta of 1.75. The company has a current ratio of 3.60, a quick ratio of 3.35 and a debt-to-equity ratio of 0.48. The company has a fifty day moving average price of $16.15 and a two-hundred day moving average price of $11.95.

NeoGenomics (NASDAQ:NEO - Get Free Report) last issued its earnings results on Tuesday, July 28th. The medical research company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.02. The business had revenue of $201.66 million during the quarter, compared to analyst estimates of $196.93 million. NeoGenomics had a negative return on equity of 1.99% and a negative net margin of 6.77%.NeoGenomics's revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.03 earnings per share. As a group, equities research analysts anticipate that NeoGenomics, Inc. will post -0.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NEO. Squarepoint Ops LLC lifted its holdings in shares of NeoGenomics by 118.3% during the second quarter. Squarepoint Ops LLC now owns 222,036 shares of the medical research company's stock valued at $3,240,000 after acquiring an additional 120,342 shares during the period. WINTON GROUP Ltd bought a new stake in shares of NeoGenomics in the 2nd quarter worth about $925,000. American Capital Management Inc. acquired a new stake in shares of NeoGenomics during the 2nd quarter worth about $32,648,000. Bank of New York Mellon Corp acquired a new stake in shares of NeoGenomics during the 2nd quarter worth about $10,744,000. Finally, First Light Asset Management LLC lifted its holdings in NeoGenomics by 26.2% during the 2nd quarter. First Light Asset Management LLC now owns 12,279,523 shares of the medical research company's stock valued at $179,158,000 after purchasing an additional 2,549,545 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company's stock.

About NeoGenomics

NeoGenomics, Inc is a provider of cancer-focused diagnostic testing and contract research services. The company operates clinical laboratories that support physicians, hospitals and other healthcare organizations with information used to help diagnose, classify and monitor cancer.

Its testing services include anatomic pathology, immunohistochemistry, flow cytometry, cytogenetics, fluorescence in situ hybridization, molecular testing and next-generation sequencing. NeoGenomics also provides biopharmaceutical companies with clinical trial testing, central laboratory services, biomarker development and other research services intended to support the development of oncology therapies and companion diagnostics.

Founded in 1999, NeoGenomics serves healthcare providers and pharmaceutical and biotechnology customers primarily in the United States, with additional capabilities supporting international clinical research programs.

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