NeoGenomics (NASDAQ:NEO) Shares Up 7.2% – Here’s Why

by · The Markets Daily

NeoGenomics, Inc. (NASDAQ:NEO – Get Free Report)’s stock price was up 7.2% on Tuesday . The stock traded as high as $9.83 and last traded at $9.75. Approximately 448,052 shares traded hands during trading, a decline of 43% from the average daily volume of 783,495 shares. The stock had previously closed at $9.09.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NEO shares. Jefferies Financial Group began coverage on shares of NeoGenomics in a research report on Tuesday, December 10th. They issued a “buy” rating and a $22.00 target price for the company. Needham & Company LLC dropped their target price 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. The Goldman Sachs Group reduced their price objective on NeoGenomics from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Bank of America lowered their price target on NeoGenomics from $19.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Finally, Piper Sandler decreased their target price on shares of NeoGenomics from $21.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, NeoGenomics currently has an average rating of “Moderate Buy” and a consensus target price of $19.60.

Get Our Latest Stock Report on NEO

NeoGenomics Price Performance

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 market capitalization of $1.22 billion, a P/E ratio of -15.35 and a beta of 1.28. The stock has a fifty day moving average of $13.39 and a 200-day moving average of $14.89.

NeoGenomics (NASDAQ:NEO – Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $172.00 million during the quarter, compared to analyst estimates of $173.40 million. NeoGenomics had a negative net margin of 11.92% and a negative return on equity of 2.10%. Equities analysts predict that NeoGenomics, Inc. will post -0.2 EPS for the current fiscal year.

Institutional Trading of NeoGenomics

Several large investors have recently modified their holdings of NEO. Nordea Investment Management AB increased its stake in NeoGenomics by 2.8% in the fourth quarter. Nordea Investment Management AB now owns 77,534 shares of the medical research company’s stock valued at $1,301,000 after acquiring an additional 2,125 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of NeoGenomics by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 3,051,806 shares of the medical research company’s stock worth $45,022,000 after buying an additional 36,136 shares during the last quarter. Jennison Associates LLC boosted its stake in NeoGenomics by 4.7% in the third quarter. Jennison Associates LLC now owns 1,276,468 shares of the medical research company’s stock valued at $18,828,000 after buying an additional 57,041 shares in the last quarter. Algert Global LLC grew its position in NeoGenomics by 204.3% in the third quarter. Algert Global LLC now owns 79,983 shares of the medical research company’s stock valued at $1,180,000 after acquiring an additional 53,700 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in NeoGenomics by 2.4% during the fourth quarter. Rhumbline Advisers now owns 389,003 shares of the medical research company’s stock worth $6,411,000 after acquiring an additional 9,098 shares in the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

About NeoGenomics

(Get Free Report)

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.

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