NeoGenomics (NASDAQ:NEO) Hits New 12-Month High – Should You Buy?
by Danessa Lincoln · The Markets DailyNeoGenomics, Inc. (NASDAQ:NEO – Get Free Report) reached a new 52-week high on Thursday . The stock traded as high as $19.81 and last traded at $19.7750, with a volume of 470027 shares. The stock had previously closed at $18.94.
Analysts Set New Price Targets
Several research analysts have recently commented on the company. Needham & Company LLC boosted their target price on NeoGenomics from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Craig Hallum reaffirmed a “buy” rating and set a $19.00 price target on shares of NeoGenomics in a report on Wednesday, July 29th. Weiss Ratings upgraded NeoGenomics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. TD Cowen reissued a “buy” rating on shares of NeoGenomics in a research note on Wednesday, July 15th. Finally, Zacks Research upgraded NeoGenomics from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.67.
View Our Latest Research Report on NEO
NeoGenomics Price Performance
The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of -49.05 and a beta of 1.75. The company has a current ratio of 3.60, a quick ratio of 3.35 and a debt-to-equity ratio of 0.48. The company has a 50 day moving average price of $16.15 and a 200 day moving average price of $11.95.
NeoGenomics (NASDAQ:NEO – Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.02. The business had revenue of $201.66 million for the quarter, compared to analyst estimates of $196.93 million. NeoGenomics had a negative return on equity of 1.99% and a negative net margin of 6.77%.The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 earnings per share. As a group, equities research analysts forecast that NeoGenomics, Inc. will post -0.09 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the business. First Light Asset Management LLC grew its position in shares of NeoGenomics by 26.2% during the 2nd quarter. First Light Asset Management LLC now owns 12,279,523 shares of the medical research company’s stock worth $179,158,000 after buying an additional 2,549,545 shares during the period. First Trust Advisors LP acquired a new position in NeoGenomics in the first quarter valued at approximately $45,725,000. American Capital Management Inc. acquired a new position in NeoGenomics in the second quarter valued at approximately $32,648,000. GW&K Investment Management LLC boosted its stake in NeoGenomics by 7.5% in the fourth quarter. GW&K Investment Management LLC now owns 2,238,767 shares of the medical research company’s stock valued at $26,328,000 after acquiring an additional 155,882 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in NeoGenomics by 9.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,674,335 shares of the medical research company’s stock valued at $19,842,000 after acquiring an additional 225,588 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.
NeoGenomics Company Profile
NeoGenomics, Inc is a provider of cancer-focused diagnostic testing and contract research services. The company operates clinical laboratories that support physicians, hospitals and other healthcare organizations with information used to help diagnose, classify and monitor cancer.
Its testing services include anatomic pathology, immunohistochemistry, flow cytometry, cytogenetics, fluorescence in situ hybridization, molecular testing and next-generation sequencing. NeoGenomics also provides biopharmaceutical companies with clinical trial testing, central laboratory services, biomarker development and other research services intended to support the development of oncology therapies and companion diagnostics.
Founded in 1999, NeoGenomics serves healthcare providers and pharmaceutical and biotechnology customers primarily in the United States, with additional capabilities supporting international clinical research programs.