NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report)'s stock price fell 8% during mid-day trading on Monday . The stock traded as low as $13.55 and last traded at $13.59. 226,218 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 819,208 shares. The stock had previously closed at $14.77.
Wall Street Analysts Forecast Growth
NEO has been the topic of several recent research reports. Needham & Company LLC reaffirmed a "buy" rating and set a $19.00 target price on shares of NeoGenomics in a research report on Friday. Bank of America increased their target price on NeoGenomics from $18.00 to $19.00 and gave the company a "neutral" rating in a research report on Friday, December 13th. Jefferies Financial Group initiated 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 NeoGenomics from a "buy" rating to a "hold" rating in a research note on Monday. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $20.30.
Read Our Latest Stock Report on NEO
NeoGenomics Trading Down 14.5 %
The stock has a market cap of $1.62 billion, a PE ratio of -20.70 and a beta of 1.24. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.91 and a current ratio of 1.99. The company's 50-day moving average price is $16.82 and its 200 day moving average price is $15.67.
NeoGenomics (NASDAQ:NEO - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The medical research company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. The firm had revenue of $167.80 million for the quarter, compared to analyst estimates of $167.00 million. During the same quarter in the previous year, the company earned ($0.06) EPS. The business's revenue for the quarter was up 10.5% compared to the same quarter last year. On average, sell-side analysts forecast that NeoGenomics, Inc. will post -0.16 EPS for the current fiscal year.
Insider Activity
In related news, General Counsel Alicia C. Olivo sold 5,175 shares of the 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 owns 37,129 shares of the company's stock, valued at $570,301.44. This represents a 12.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.30% of the company's stock.
Institutional Investors Weigh In On NeoGenomics
Several hedge funds have recently made changes to their positions in NEO. Moody National Bank Trust Division grew its stake in shares of NeoGenomics by 20.2% during the 4th quarter. Moody National Bank Trust Division now owns 73,226 shares of the medical research company's stock valued at $1,207,000 after buying an additional 12,314 shares during the period. Nordea Investment Management AB grew its stake in shares of NeoGenomics by 2.8% during the 4th quarter. Nordea Investment Management AB now owns 77,534 shares of the medical research company's stock valued at $1,301,000 after buying an additional 2,125 shares during the period. Versant Capital Management Inc grew its stake in shares of NeoGenomics by 174.9% during the 4th quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company's stock valued at $30,000 after buying an additional 1,142 shares during the period. Franklin Resources Inc. lifted its holdings in shares of NeoGenomics by 2.0% during the 3rd quarter. Franklin Resources Inc. now owns 2,043,840 shares of the medical research company's stock valued at $28,225,000 after acquiring an additional 39,740 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of NeoGenomics by 1.2% during 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.
About NeoGenomics
(
Get Free Report)
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.
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