NeoGenomics (NASDAQ:NEO) Trading Down 8% – Here’s Why

NeoGenomics, Inc. (NASDAQ:NEO) fell 8% during mid-day trading on Monday . The stock traded as low as $13.55 and last traded at $13.59. 226,218 shares changed hands during trading, a decline of 72% from the average session volume of 819,208 shares. The stock had previously closed at $14.77.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Jefferies Financial Group began coverage on NeoGenomics in a research note on Tuesday, December 10th. They set a “buy” rating and a $22.00 price objective on the stock. Benchmark cut NeoGenomics from a “buy” rating to a “hold” rating in a research note on Monday. Bank of America increased their price objective on NeoGenomics from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 target price on shares of NeoGenomics in a research note on Friday, January 10th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $20.30.

NeoGenomics Stock Performance

The company has a 50 day moving average of $16.77 and a two-hundred day moving average of $15.67. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.99 and a quick ratio of 1.91. The company has a market capitalization of $1.77 billion, a PE ratio of -22.59 and a beta of 1.24.

NeoGenomics (NASDAQ:NEO) last announced its earnings results on Tuesday, November 5th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $167.80 million for the quarter, compared to analysts’ expectations of $167.00 million. During the same period in the prior year, the company earned ($0.06) EPS. The business’s revenue was up 10.5% compared to the same quarter last year. As a group, equities research analysts predict that NeoGenomics, Inc. will post -0.16 earnings per share for the current year.

Insider Activity

In related news, General Counsel Alicia C. Olivo sold 5,175 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were 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 directly owns 37,129 shares of the company’s stock, valued at $570,301.44. This trade represents a 12.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NEO. State Street Corp lifted its stake in NeoGenomics by 1.6% in the 3rd quarter. State Street Corp now owns 4,958,582 shares of the medical research company’s stock valued at $73,139,000 after buying an additional 80,449 shares in the last quarter. First Light Asset Management LLC boosted its holdings in NeoGenomics by 14.5% in the 2nd quarter. First Light Asset Management LLC now owns 3,782,561 shares of the medical research company’s stock valued at $52,464,000 after purchasing an additional 480,396 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in NeoGenomics by 7.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,324,624 shares of the medical research company’s stock valued at $46,108,000 after acquiring an additional 217,687 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of NeoGenomics by 5.4% during the 2nd quarter. American Century Companies Inc. now owns 3,261,756 shares of the medical research company’s stock worth $45,241,000 after purchasing an additional 167,145 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of NeoGenomics by 1.2% during 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 acquiring an additional 36,136 shares during the last quarter. 98.50% of the stock is 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.