NeoGenomics (NASDAQ:NEO) Trading Down 3.2%

NeoGenomics, Inc. (NASDAQ:NEO) traded down 3.2% during trading on Monday . The company traded as low as $15.50 and last traded at $15.52. 121,616 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 814,304 shares. The stock had previously closed at $16.04.

Wall Street Analyst Weigh In

NEO has been the topic of a number of recent analyst reports. Benchmark restated a “buy” rating and set a $18.00 target price on shares of NeoGenomics in a report on Tuesday, July 30th. Needham & Company LLC reissued a “buy” rating and set a $19.00 price objective on shares of NeoGenomics in a research note on Tuesday, July 30th. Finally, Stephens reaffirmed an “overweight” rating and issued a $19.00 target price on shares of NeoGenomics in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, NeoGenomics has a consensus rating of “Moderate Buy” and an average price target of $19.89.

NeoGenomics Trading Up 4.4 %

The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of -23.67 and a beta of 1.19. The business’s fifty day moving average is $15.66 and its 200 day moving average is $14.92. The company has a quick ratio of 1.93, a current ratio of 2.01 and a debt-to-equity ratio of 0.37.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings results on Monday, July 29th. The medical research company reported $0.03 earnings per share (EPS) for the quarter. The firm had revenue of $164.50 million for the quarter, compared to the consensus estimate of $161.82 million. NeoGenomics had a negative return on equity of 2.72% and a negative net margin of 12.50%. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.09) EPS. Equities analysts predict that NeoGenomics, Inc. will post -0.22 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NEO. Blue Trust Inc. lifted its position in NeoGenomics by 107.2% during the 2nd quarter. Blue Trust Inc. now owns 2,331 shares of the medical research company’s stock worth $32,000 after buying an additional 1,206 shares in the last quarter. Burkett Financial Services LLC bought a new stake in NeoGenomics during the fourth quarter worth about $46,000. Canada Pension Plan Investment Board acquired a new position in NeoGenomics during the second quarter valued at approximately $57,000. Quadrant Capital Group LLC grew its stake in NeoGenomics by 22.0% in the fourth quarter. Quadrant Capital Group LLC now owns 4,900 shares of the medical research company’s stock valued at $79,000 after purchasing an additional 883 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of NeoGenomics by 27.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,434 shares of the medical research company’s stock worth $136,000 after purchasing an additional 1,791 shares during 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.