NeoGenomics (NASDAQ:NEO) Shares Down 2.5% - Should You Sell?

NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report)'s share price fell 2.5% during mid-day trading on Wednesday . The stock traded as low as $13.64 and last traded at $13.68. 142,771 shares were traded during trading, a decline of 83% from the average session volume of 820,799 shares. The stock had previously closed at $14.03.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on NEO shares. Benchmark restated a "buy" rating and issued a $18.00 price objective on shares of NeoGenomics in a research note on Tuesday, September 24th. Needham & Company LLC restated a "buy" rating and issued a $19.00 price target on shares of NeoGenomics in a research report on Wednesday, September 25th. Finally, Stephens reaffirmed an "overweight" rating and set a $19.00 price objective on shares of NeoGenomics in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $19.89.

NeoGenomics Price Performance

The company has a current ratio of 2.01, a quick ratio of 1.93 and a debt-to-equity ratio of 0.37. The stock has a fifty day simple moving average of $15.51 and a two-hundred day simple moving average of $14.81. The company has a market cap of $1.77 billion, a PE ratio of -20.95 and a beta of 1.19.

NeoGenomics (NASDAQ:NEO - Get Free Report) last posted its quarterly earnings results on Monday, July 29th. The medical research company reported $0.03 earnings per share for the quarter. NeoGenomics had a negative return on equity of 2.72% and a negative net margin of 12.50%. The firm had revenue of $164.50 million for the quarter, compared to the consensus estimate of $161.82 million. During the same period in the previous year, the business earned ($0.09) earnings per share. The company's revenue for the quarter was up 12.0% compared to the same quarter last year. On average, equities analysts predict that NeoGenomics, Inc. will post -0.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NEO. Blue Trust Inc. increased its position in shares of NeoGenomics by 107.2% in the second quarter. Blue Trust Inc. now owns 2,331 shares of the medical research company's stock valued at $32,000 after buying an additional 1,206 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of NeoGenomics in the second quarter valued at about $57,000. PNC Financial Services Group Inc. grew its position in shares of NeoGenomics by 27.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,434 shares of the medical research company's stock valued at $136,000 after purchasing an additional 1,791 shares during the last quarter. Banque Cantonale Vaudoise increased its stake in shares of NeoGenomics by 10.2% during the 2nd quarter. Banque Cantonale Vaudoise now owns 17,575 shares of the medical research company's stock worth $244,000 after purchasing an additional 1,633 shares in the last quarter. Finally, Gabelli Funds LLC acquired a new position in shares of NeoGenomics during the 1st quarter worth approximately $283,000. 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.