NeoGenomics (NASDAQ:NEO) Sets New 52-Week Low - What's Next?

Shares of NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report) reached a new 52-week low on Tuesday . The company traded as low as $12.13 and last traded at $12.63, with a volume of 3528324 shares trading hands. The stock had previously closed at $14.77.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of NeoGenomics in a report on Tuesday, December 10th. They issued a "buy" rating and a $22.00 target price on the stock. Benchmark lowered NeoGenomics from a "buy" rating to a "hold" rating in a research note on Monday. Bank of America lifted their target price on NeoGenomics from $18.00 to $19.00 and gave the stock a "neutral" rating in a research note on Friday, December 13th. Finally, Needham & Company LLC reissued a "buy" rating and set a $19.00 target price on shares of NeoGenomics in a report on Friday. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $20.30.

NeoGenomics Stock Down 2.0 %

The stock has a 50-day moving average price of $16.79 and a 200-day moving average price of $15.67. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.99 and a quick ratio of 1.91. The company has a market capitalization of $1.59 billion, a P/E ratio of -20.29 and a beta of 1.24.

NeoGenomics (NASDAQ:NEO - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The medical research company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.04. The company had revenue of $167.80 million during the quarter, compared to analyst estimates of $167.00 million. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. NeoGenomics's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.06) EPS. On average, research analysts predict that NeoGenomics, Inc. will post -0.16 EPS for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Alicia C. Olivo sold 5,175 shares of the business's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $15.36, for a total value of $79,488.00. Following the transaction, the general counsel now owns 37,129 shares in the company, valued at $570,301.44. The trade was a 12.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NeoGenomics

Several hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System increased its stake in NeoGenomics by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 35,739 shares of the medical research company's stock worth $496,000 after acquiring an additional 708 shares during the last quarter. Texas Permanent School Fund Corp raised its holdings in shares of NeoGenomics by 12.7% during the 2nd quarter. Texas Permanent School Fund Corp now owns 125,705 shares of the medical research company's stock valued at $1,742,000 after buying an additional 14,148 shares in the last quarter. American Century Companies Inc. lifted its position in NeoGenomics by 5.4% in the 2nd quarter. American Century Companies Inc. now owns 3,261,756 shares of the medical research company's stock worth $45,241,000 after buying an additional 167,145 shares during the last quarter. Federated Hermes Inc. boosted its stake in NeoGenomics by 8.9% in the second quarter. Federated Hermes Inc. now owns 142,587 shares of the medical research company's stock worth $1,978,000 after buying an additional 11,599 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in NeoGenomics by 3.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 32,505 shares of the medical research company's stock valued at $451,000 after acquiring an additional 1,030 shares during the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

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.