NeoGenomics (NASDAQ:NEO) Trading Up 7.2% – What’s Next?

Shares of NeoGenomics, Inc. (NASDAQ:NEO) were up 7.2% on Tuesday . The company traded as high as $9.83 and last traded at $9.75. Approximately 448,052 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 783,495 shares. The stock had previously closed at $9.09.

Analyst Ratings Changes

NEO has been the topic of a number of research analyst reports. Jefferies Financial Group started coverage on NeoGenomics in a report on Tuesday, December 10th. They set a “buy” rating and a $22.00 price target on the stock. Piper Sandler reduced their price target on shares of NeoGenomics from $21.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Benchmark downgraded shares of NeoGenomics from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Needham & Company LLC dropped their price objective on shares of NeoGenomics from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group decreased their target price on NeoGenomics from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, NeoGenomics currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.60.

NeoGenomics Trading Down 6.9 %

The company has a quick ratio of 1.91, a current ratio of 1.98 and a debt-to-equity ratio of 0.38. The firm has a 50 day moving average price of $13.39 and a 200 day moving average price of $14.89. The stock has a market capitalization of $1.22 billion, a PE ratio of -15.35 and a beta of 1.28.

NeoGenomics (NASDAQ:NEO) last posted its earnings results on Tuesday, February 18th. The medical research company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. The firm had revenue of $172.00 million during the quarter, compared to the consensus estimate of $173.40 million. Equities analysts expect that NeoGenomics, Inc. will post -0.2 EPS for the current fiscal year.

Institutional Trading of NeoGenomics

Hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its stake in shares of NeoGenomics by 5.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 15,610 shares of the medical research company’s stock worth $257,000 after purchasing an additional 770 shares during the period. Summit Investment Advisors Inc. raised its position in NeoGenomics by 6.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 13,339 shares of the medical research company’s stock worth $220,000 after acquiring an additional 863 shares during the period. FMR LLC boosted its stake in NeoGenomics by 7.6% in the third quarter. FMR LLC now owns 13,255 shares of the medical research company’s stock valued at $196,000 after acquiring an additional 931 shares during the last quarter. Blue Trust Inc. boosted its stake in NeoGenomics by 33.2% in the fourth quarter. Blue Trust Inc. now owns 4,421 shares of the medical research company’s stock valued at $73,000 after acquiring an additional 1,103 shares during the last quarter. Finally, KBC Group NV grew its position in shares of NeoGenomics by 33.1% during the 3rd quarter. KBC Group NV now owns 4,530 shares of the medical research company’s stock valued at $67,000 after acquiring an additional 1,127 shares during the period. 98.50% of the stock is currently owned by institutional investors.

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.