NeoGenomics (NASDAQ:NEO) Sets New 1-Year Low - Here's What Happened

NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report) shares reached a new 52-week low on Wednesday . The company traded as low as $8.05 and last traded at $8.36, with a volume of 60044 shares trading hands. The stock had previously closed at $8.20.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Benchmark lowered NeoGenomics from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. Bank of America decreased their target price on NeoGenomics from $19.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Needham & Company LLC dropped their price target on NeoGenomics from $19.00 to $18.00 and set a "buy" rating for the company in a research note on Wednesday, February 19th. The Goldman Sachs Group reduced their price objective on shares of NeoGenomics from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Tuesday, January 28th. Finally, Piper Sandler dropped their target price on shares of NeoGenomics from $21.00 to $18.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, NeoGenomics has a consensus rating of "Moderate Buy" and an average price target of $19.60.

NeoGenomics Trading Up 5.7 %

The company has a quick ratio of 1.91, a current ratio of 1.98 and a debt-to-equity ratio of 0.38. The stock's 50 day moving average is $10.59 and its 200-day moving average is $13.77. The company has a market cap of $1.27 billion, a PE ratio of -15.89 and a beta of 1.41.

NeoGenomics (NASDAQ:NEO - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The medical research company reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.05). The business had revenue of $172.00 million during the quarter, compared to the consensus estimate of $173.40 million. NeoGenomics had a negative net margin of 11.92% and a negative return on equity of 2.10%. As a group, sell-side analysts anticipate that NeoGenomics, Inc. will post -0.2 EPS for the current year.

Hedge Funds Weigh In On NeoGenomics

Several large investors have recently modified their holdings of NEO. FMR LLC increased its position in NeoGenomics by 7.6% during the third quarter. FMR LLC now owns 13,255 shares of the medical research company's stock valued at $196,000 after acquiring an additional 931 shares during the last quarter. Verition Fund Management LLC bought a new position in NeoGenomics during the 3rd quarter valued at about $229,000. State Street Corp grew its holdings in NeoGenomics by 1.6% during the 3rd quarter. State Street Corp now owns 4,958,582 shares of the medical research company's stock valued at $73,139,000 after purchasing an additional 80,449 shares during the last quarter. Geode Capital Management LLC lifted its stake 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. Finally, Franklin Resources Inc. boosted its position in shares of NeoGenomics by 2.0% during the third quarter. Franklin Resources Inc. now owns 2,043,840 shares of the medical research company's stock valued at $28,225,000 after buying an additional 39,740 shares during the period. Institutional investors own 98.50% of the company's stock.

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.