NeoGenomics (NASDAQ:NEO) Sets New 52-Week Low - Time to Sell?

NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report) hit a new 52-week low during trading on Tuesday . The company traded as low as $10.63 and last traded at $10.77, with a volume of 288287 shares trading hands. The stock had previously closed at $11.17.

Analyst Upgrades and Downgrades

NEO has been the subject of a number of research reports. Needham & Company LLC cut their target price on shares of NeoGenomics from $19.00 to $18.00 and set a "buy" rating for the company in a research report on Wednesday, February 19th. Benchmark downgraded shares of NeoGenomics from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. Jefferies Financial Group assumed coverage on shares of NeoGenomics in a research report on Tuesday, December 10th. They set a "buy" rating and a $22.00 target price on the stock. The Goldman Sachs Group reduced their price target on NeoGenomics from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. Finally, Bank of America lowered their price objective on NeoGenomics from $19.00 to $16.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, NeoGenomics has a consensus rating of "Moderate Buy" and a consensus target price of $19.60.

NeoGenomics Stock Performance

The stock has a market cap of $1.28 billion, a PE ratio of -16.11 and a beta of 1.23. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.98 and a quick ratio of 1.91. The stock has a 50-day simple moving average of $14.49 and a 200-day simple moving average of $15.25.

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NeoGenomics (NASDAQ:NEO - Get Free Report) last issued its earnings results on Tuesday, February 18th. The medical research company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.05). NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. The firm had revenue of $172.00 million for the quarter, compared to analysts' expectations of $173.40 million. Equities analysts predict that NeoGenomics, Inc. will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NEO. Vanguard Group Inc. grew its stake in shares of NeoGenomics by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 14,239,887 shares of the medical research company's stock valued at $234,673,000 after acquiring an additional 195,793 shares in the last quarter. State Street Corp increased 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 worth $73,139,000 after purchasing an additional 80,449 shares during the last quarter. Greenhouse Funds LLLP boosted its stake in shares of NeoGenomics by 5.3% during the 4th quarter. Greenhouse Funds LLLP now owns 4,701,897 shares of the medical research company's stock valued at $77,487,000 after buying an additional 237,491 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of NeoGenomics by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,436,858 shares of the medical research company's stock valued at $56,645,000 after buying an additional 78,211 shares during the last quarter. Finally, First Light Asset Management LLC grew its position in shares of NeoGenomics by 3.0% during the fourth quarter. First Light Asset Management LLC now owns 3,167,585 shares of the medical research company's stock worth $52,202,000 after buying an additional 91,030 shares in the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

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.