NeoGenomics (NASDAQ:NEO) Sets New 12-Month Low – Time to Sell?

NeoGenomics, Inc. (NASDAQ:NEO)’s stock price hit a new 52-week low on Tuesday . The stock traded as low as $10.63 and last traded at $10.77, with a volume of 288287 shares. The stock had previously closed at $11.17.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Bank of America dropped their target price on shares of NeoGenomics from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Needham & Company LLC decreased their target price on NeoGenomics from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. The Goldman Sachs Group cut their price target on NeoGenomics from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Benchmark downgraded NeoGenomics from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, Jefferies Financial Group started coverage on shares of NeoGenomics in a report on Tuesday, December 10th. They issued a “buy” rating and a $22.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, NeoGenomics presently has an average rating of “Moderate Buy” and an average target price of $19.80.

NeoGenomics Price Performance

The company has a market cap of $1.40 billion, a price-to-earnings ratio of -17.61 and a beta of 1.23. The company has a 50-day simple moving average of $15.01 and a 200-day simple moving average of $15.41. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.91 and a current ratio of 1.98.

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

Institutional Investors Weigh In On NeoGenomics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Nordea Investment Management AB raised its holdings in NeoGenomics by 2.8% during the fourth quarter. Nordea Investment Management AB now owns 77,534 shares of the medical research company’s stock worth $1,301,000 after purchasing an additional 2,125 shares during the last quarter. Geode Capital Management LLC increased its position in shares of NeoGenomics by 1.2% in the third quarter. Geode Capital Management LLC now owns 3,051,806 shares of the medical research company’s stock valued at $45,022,000 after buying an additional 36,136 shares in the last quarter. Jennison Associates LLC raised its stake in shares of NeoGenomics by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 1,276,468 shares of the medical research company’s stock worth $18,828,000 after buying an additional 57,041 shares during the last quarter. Blue Trust Inc. raised its stake in shares of NeoGenomics by 42.3% during the 3rd quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock worth $46,000 after buying an additional 987 shares during the last quarter. Finally, Algert Global LLC boosted its position in shares of NeoGenomics by 204.3% in the 3rd quarter. Algert Global LLC now owns 79,983 shares of the medical research company’s stock worth $1,180,000 after buying an additional 53,700 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

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.