NeoGenomics (NASDAQ:NEO) Trading Up 5.1% – Should You Buy?

NeoGenomics, Inc. (NASDAQ:NEO)’s stock price rose 5.1% during mid-day trading on Tuesday . The company traded as high as $18.95 and last traded at $18.82. Approximately 186,976 shares were traded during trading, a decline of 77% from the average daily volume of 798,786 shares. The stock had previously closed at $17.91.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NEO. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 target price on shares of NeoGenomics in a research note on Wednesday, November 6th. Jefferies Financial Group started coverage on NeoGenomics in a research note on Tuesday. They set a “buy” rating and a $22.00 target price on the stock. Finally, Benchmark restated a “buy” rating and issued a $18.00 price target on shares of NeoGenomics in a research note on Tuesday, September 24th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $20.44.

NeoGenomics Stock Performance

The business has a fifty day simple moving average of $15.07 and a two-hundred day simple moving average of $15.03. The company has a market cap of $2.37 billion, a P/E ratio of -30.25 and a beta of 1.24. The company has a quick ratio of 1.91, a current ratio of 1.99 and a debt-to-equity ratio of 0.37.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Tuesday, November 5th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. The company had revenue of $167.80 million for the quarter, compared to the consensus estimate of $167.00 million. During the same quarter last year, the firm posted ($0.06) earnings per share. The firm’s revenue was up 10.5% compared to the same quarter last year. On average, sell-side analysts anticipate that NeoGenomics, Inc. will post -0.17 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Alicia C. Olivo sold 5,175 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $15.36, for a total value of $79,488.00. Following the completion of the transaction, the general counsel now owns 37,129 shares of the company’s stock, valued at $570,301.44. This represents a 12.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NEO. Blue Trust Inc. grew its holdings in shares of NeoGenomics by 107.2% in the second quarter. Blue Trust Inc. now owns 2,331 shares of the medical research company’s stock valued at $32,000 after purchasing an additional 1,206 shares in the last quarter. Quarry LP bought a new position in NeoGenomics during the third quarter valued at $40,000. Canada Pension Plan Investment Board purchased a new position in shares of NeoGenomics in the 2nd quarter worth $57,000. KBC Group NV increased its holdings in shares of NeoGenomics by 33.1% in the 3rd quarter. KBC Group NV now owns 4,530 shares of the medical research company’s stock worth $67,000 after buying an additional 1,127 shares during the last quarter. Finally, FMR LLC raised its position in shares of NeoGenomics by 7.6% during the 3rd quarter. FMR LLC now owns 13,255 shares of the medical research company’s stock valued at $196,000 after buying an additional 931 shares in the last quarter. 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.