NeoGenomics (NASDAQ:NEO) Sets New 1-Year Low – Here’s What Happened

Shares of NeoGenomics, Inc. (NASDAQ:NEO) hit a new 52-week low on Monday . The stock traded as low as $9.58 and last traded at $9.59, with a volume of 683693 shares changing hands. The stock had previously closed at $9.99.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Jefferies Financial Group started coverage on NeoGenomics in a research note on Tuesday, December 10th. They issued a “buy” rating and a $22.00 price target on the stock. The Goldman Sachs Group decreased their target price on shares of NeoGenomics from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Piper Sandler lowered 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. Needham & Company LLC cut their price target 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, Benchmark downgraded shares of NeoGenomics from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.60.

NeoGenomics Price Performance

The company has a market cap of $1.23 billion, a PE ratio of -15.45 and a beta of 1.23. The firm’s 50-day moving average is $14.49 and its 200-day moving average is $15.24. The company has a quick ratio of 1.91, a current ratio of 1.98 and a debt-to-equity ratio of 0.38.

NeoGenomics (NASDAQ:NEO) last posted its earnings results on Tuesday, February 18th. The medical research company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $173.40 million. On average, equities analysts anticipate that NeoGenomics, Inc. will post -0.2 EPS for the current year.

Hedge Funds Weigh In On NeoGenomics

Several institutional investors and hedge funds have recently added to or reduced their stakes in NEO. PNC Financial Services Group Inc. boosted its position in shares of NeoGenomics by 5.2% in 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 in the last quarter. Summit Investment Advisors Inc. raised its stake in NeoGenomics by 6.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 13,339 shares of the medical research company’s stock valued at $220,000 after buying an additional 863 shares during the last quarter. Fernwood Investment Management LLC boosted its holdings in NeoGenomics by 1.0% in the third quarter. Fernwood Investment Management LLC now owns 89,500 shares of the medical research company’s stock worth $1,320,000 after acquiring an additional 900 shares in the last quarter. FMR LLC boosted its holdings in NeoGenomics by 7.6% in the third quarter. FMR LLC now owns 13,255 shares of the medical research company’s stock worth $196,000 after acquiring an additional 931 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of NeoGenomics by 33.2% in the fourth quarter. Blue Trust Inc. now owns 4,421 shares of the medical research company’s stock worth $73,000 after acquiring an additional 1,103 shares during the last quarter. Hedge funds and other 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.