NeoGenomics (NASDAQ:NEO) Hits New 52-Week Low – What’s Next?

NeoGenomics, Inc. (NASDAQ:NEO)’s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $12.13 and last traded at $12.63, with a volume of 3528324 shares changing hands. The stock had previously closed at $14.77.

Analyst Ratings Changes

Several equities analysts recently commented on NEO shares. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 target price on shares of NeoGenomics in a research note on Friday, January 10th. Jefferies Financial Group assumed coverage on shares of NeoGenomics in a research note on Tuesday, December 10th. They set a “buy” rating and a $22.00 price objective for the company. Bank of America raised their target price 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, Benchmark lowered shares of NeoGenomics from a “buy” rating to a “hold” rating in a research report on Monday. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.30.

NeoGenomics Stock Up 6.7 %

The company’s 50-day moving average price is $16.75 and its two-hundred day moving average price is $15.66. 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) last announced its quarterly earnings data on Tuesday, November 5th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. The firm had revenue of $167.80 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 10.5% on a year-over-year basis. During the same period last year, the business posted ($0.06) earnings per share. On average, equities analysts expect that NeoGenomics, Inc. will post -0.16 EPS for the current year.

Insider Transactions at NeoGenomics

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 5,175 shares of the business’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 transaction, the general counsel now directly owns 37,129 shares of the company’s stock, valued at $570,301.44. The trade was a 12.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Texas Permanent School Fund Corp boosted its holdings in shares of NeoGenomics by 12.7% in the second quarter. Texas Permanent School Fund Corp now owns 125,705 shares of the medical research company’s stock valued at $1,742,000 after acquiring an additional 14,148 shares in the last quarter. Federated Hermes Inc. boosted its stake in NeoGenomics by 8.9% during the 2nd quarter. Federated Hermes Inc. now owns 142,587 shares of the medical research company’s stock valued at $1,978,000 after purchasing an additional 11,599 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of NeoGenomics by 3.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 32,505 shares of the medical research company’s stock valued at $451,000 after purchasing an additional 1,030 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of NeoGenomics by 7.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,324,624 shares of the medical research company’s stock worth $46,108,000 after buying an additional 217,687 shares in the last quarter. Finally, Edgestream Partners L.P. lifted its holdings in shares of NeoGenomics by 7.6% in the second quarter. Edgestream Partners L.P. now owns 129,589 shares of the medical research company’s stock valued at $1,797,000 after buying an additional 9,133 shares during the period. Institutional investors 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.