NeoGenomics (NASDAQ:NEO) Shares Down 8.9%

NeoGenomics, Inc. (NASDAQ:NEOGet Rating)’s stock price was down 8.9% during trading on Thursday . The stock traded as low as $9.50 and last traded at $9.51. Approximately 37,278 shares traded hands during trading, a decline of 98% from the average daily volume of 1,826,507 shares. The stock had previously closed at $10.44.

NEO has been the subject of a number of recent analyst reports. Cowen lowered their price objective on NeoGenomics from $42.00 to $24.00 and set an “outperform” rating for the company in a research note on Tuesday, March 29th. SVB Leerink lowered their price objective on NeoGenomics from $45.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, March 29th. Raymond James lowered their price objective on NeoGenomics from $24.00 to $18.00 and set an “outperform” rating for the company in a research note on Monday, April 18th. Zacks Investment Research upgraded NeoGenomics from a “sell” rating to a “hold” rating in a research note on Friday, March 4th. Finally, Benchmark lowered their price objective on NeoGenomics from $26.00 to $16.00 in a research note on Tuesday, March 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $24.64.

The firm has a 50-day moving average price of $15.22 and a 200 day moving average price of $26.73. The company has a debt-to-equity ratio of 0.50, a current ratio of 7.93 and a quick ratio of 7.54.

NeoGenomics (NASDAQ:NEOGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The medical research company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.04. The business had revenue of $117.17 million for the quarter, compared to the consensus estimate of $116.44 million. NeoGenomics had a negative return on equity of 6.62% and a negative net margin of 7.33%. The business’s revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.06) EPS. Research analysts expect that NeoGenomics, Inc. will post -0.87 earnings per share for the current year.

In related news, CFO William Bonello sold 3,209 shares of the firm’s stock in a transaction that occurred on Monday, March 7th. The stock was sold at an average price of $18.29, for a total value of $58,692.61. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 4.70% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quadrant Capital Group LLC grew its stake in NeoGenomics by 56.9% in the fourth quarter. Quadrant Capital Group LLC now owns 1,826 shares of the medical research company’s stock valued at $62,000 after purchasing an additional 662 shares in the last quarter. Lindbrook Capital LLC acquired a new stake in shares of NeoGenomics in the fourth quarter worth about $84,000. Andrew Hill Investment Advisors Inc. acquired a new stake in shares of NeoGenomics in the fourth quarter worth about $88,000. Calton & Associates Inc. acquired a new stake in shares of NeoGenomics in the first quarter worth about $125,000. Finally, National Bank of Canada FI acquired a new stake in shares of NeoGenomics in the fourth quarter worth about $126,000. Institutional investors and hedge funds own 97.04% of the company’s stock.

NeoGenomics Company Profile (NASDAQ:NEO)

NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States, Europe, and Asia. It operates through, Clinical Services and Pharma Services segments. The company offers testing services to hospitals, reference labs, pathologists, oncologists, clinicians, pharmaceutical firms, and researchers.

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