NeoGenomics (NASDAQ:NEO) Shares Gap Down - What's Next?

NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $18.61, but opened at $17.75. NeoGenomics shares last traded at $15.64, with a volume of 235,450 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NEO. Jefferies Financial Group assumed coverage on NeoGenomics in a research report on Tuesday, December 10th. They issued a "buy" rating and a $22.00 target price for the company. Benchmark reaffirmed a "buy" rating and set a $18.00 target price on shares of NeoGenomics in a research note on Tuesday, September 24th. Bank of America increased their price target on shares of NeoGenomics from $18.00 to $19.00 and gave the stock a "neutral" rating in a research report on Friday, December 13th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $19.00 price objective on shares of NeoGenomics in a research report on Friday. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, NeoGenomics has a consensus rating of "Moderate Buy" and an average target price of $20.30.

NeoGenomics Stock Performance

The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -24.21 and a beta of 1.24. The firm's 50 day moving average is $16.82 and its 200-day moving average is $15.64. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.91 and a current ratio of 1.99.

NeoGenomics (NASDAQ:NEO - Get Free Report) last posted its earnings results 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 for the quarter, compared to analyst estimates of $167.00 million. NeoGenomics had a negative return on equity of 2.11% and a negative net margin of 12.07%. The business's revenue was up 10.5% compared to the same quarter last year. During the same period last year, the company earned ($0.06) earnings per share. Sell-side analysts anticipate that NeoGenomics, Inc. will post -0.16 earnings per share for the current fiscal year.

Insider Buying and Selling at NeoGenomics

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 5,175 shares of the company's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $15.36, for a total transaction of $79,488.00. Following the completion of the sale, the general counsel now directly owns 37,129 shares in the company, valued at $570,301.44. This represents a 12.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On NeoGenomics

Large investors have recently bought and sold shares of the stock. Versant Capital Management Inc lifted its position in shares of NeoGenomics by 174.9% in the 4th quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company's stock worth $30,000 after acquiring an additional 1,142 shares during the period. Quarry LP acquired a new position in shares of NeoGenomics in the third quarter valued at $40,000. Blue Trust Inc. lifted its position 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 during the period. Canada Pension Plan Investment Board acquired a new stake in NeoGenomics during the second quarter worth $57,000. Finally, KBC Group NV increased its holdings in NeoGenomics by 33.1% in the 3rd quarter. KBC Group NV now owns 4,530 shares of the medical research company's stock valued at $67,000 after buying an additional 1,127 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

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.