NeoGenomics (NASDAQ:NEO) Sets New 1-Year Low Following Weak Earnings

NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report) reached a new 52-week low on Tuesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $12.01 and last traded at $11.91, with a volume of 366002 shares traded. The stock had previously closed at $14.42.

The medical research company reported ($0.02) EPS for the quarter, missing the consensus estimate 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.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NEO. Needham & Company LLC decreased their price objective on shares of NeoGenomics from $19.00 to $18.00 and set a "buy" rating for the company in a research note on Wednesday. Jefferies Financial Group assumed coverage on NeoGenomics in a report on Tuesday, December 10th. They set a "buy" rating and a $22.00 price objective for the company. Bank of America reduced 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. The Goldman Sachs Group lowered their target price on shares of NeoGenomics from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Finally, Benchmark downgraded shares of NeoGenomics from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $19.80.

Institutional Investors Weigh In On NeoGenomics

Several large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. raised its stake in NeoGenomics by 5.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 15,610 shares of the medical research company's stock worth $257,000 after buying an additional 770 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of NeoGenomics by 6.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 13,339 shares of the medical research company's stock worth $220,000 after purchasing an additional 863 shares during the last quarter. Fernwood Investment Management LLC boosted its position in NeoGenomics by 1.0% during the third quarter. Fernwood Investment Management LLC now owns 89,500 shares of the medical research company's stock valued at $1,320,000 after purchasing an additional 900 shares in the last quarter. FMR LLC grew its stake in NeoGenomics by 7.6% in the third quarter. FMR LLC now owns 13,255 shares of the medical research company's stock valued at $196,000 after purchasing an additional 931 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in NeoGenomics by 42.3% in the third quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company's stock worth $46,000 after purchasing an additional 987 shares in the last quarter. Institutional investors own 98.50% of the company's stock.

NeoGenomics Trading Down 6.4 %

The firm has a market capitalization of $1.43 billion, a PE ratio of -17.90 and a beta of 1.23. 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 company's 50-day simple moving average is $15.28 and its 200 day simple moving average is $15.49.

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.