NeoGenomics (NASDAQ:NEO) Shares Gap Up - Still a Buy?

NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $13.78, but opened at $14.95. NeoGenomics shares last traded at $14.72, with a volume of 512,658 shares changing hands.

Analyst Ratings Changes

Several brokerages have commented on NEO. Bank of America lifted their price target on NeoGenomics from $18.00 to $19.00 and gave the stock a "neutral" rating in a research report on Friday, December 13th. Needham & Company LLC reaffirmed a "buy" rating and set a $19.00 price objective on shares of NeoGenomics in a research report on Friday, January 10th. Jefferies Financial Group started coverage on NeoGenomics in a research note on Tuesday, December 10th. They issued a "buy" rating and a $22.00 target price for the company. Finally, Benchmark lowered shares of NeoGenomics from a "buy" rating to a "hold" rating in a research report on Monday. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, NeoGenomics currently has an average rating of "Moderate Buy" and a consensus target price of $20.30.

NeoGenomics Stock Performance

The stock's 50 day simple moving average is $16.75 and its two-hundred day simple moving average is $15.66. The company has a market capitalization of $1.89 billion, a P/E ratio of -24.11 and a beta of 1.24. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.99 and a quick ratio of 1.91.

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

Insider Activity

In other news, General Counsel Alicia C. Olivo sold 5,175 shares of the firm's stock in a transaction 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 directly owns 37,129 shares in the company, valued at $570,301.44. This trade represents a 12.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On NeoGenomics

Several hedge funds have recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in NeoGenomics by 1.6% during the third quarter. State Street Corp now owns 4,958,582 shares of the medical research company's stock worth $73,139,000 after acquiring an additional 80,449 shares in the last quarter. First Light Asset Management LLC boosted its holdings in shares of NeoGenomics by 14.5% in the second quarter. First Light Asset Management LLC now owns 3,782,561 shares of the medical research company's stock valued at $52,464,000 after buying an additional 480,396 shares during the period. Dimensional Fund Advisors LP increased its position in shares of NeoGenomics by 7.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,324,624 shares of the medical research company's stock worth $46,108,000 after acquiring an additional 217,687 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of NeoGenomics by 5.4% during the second quarter. American Century Companies Inc. now owns 3,261,756 shares of the medical research company's stock worth $45,241,000 after acquiring an additional 167,145 shares during the period. Finally, Geode Capital Management LLC lifted its position in NeoGenomics by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 3,051,806 shares of the medical research company's stock valued at $45,022,000 after acquiring an additional 36,136 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company's stock.

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.