NeoGenomics (NASDAQ:NEO) Reaches New 52-Week Low – Here’s What Happened

NeoGenomics, Inc. (NASDAQ:NEO)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $10.63 and last traded at $10.77, with a volume of 288287 shares. The stock had previously closed at $11.17.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on NEO shares. The Goldman Sachs Group decreased their price objective on NeoGenomics from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Bank of America cut their target price on NeoGenomics from $19.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Jefferies Financial Group began coverage on shares of NeoGenomics in a research note on Tuesday, December 10th. They issued a “buy” rating and a $22.00 price objective for the company. Needham & Company LLC reduced their price target on NeoGenomics from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Finally, Benchmark cut NeoGenomics from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, NeoGenomics currently has an average rating of “Moderate Buy” and a consensus target price of $19.80.

NeoGenomics Trading Down 2.2 %

The stock has a market capitalization of $1.40 billion, a PE ratio of -17.61 and a beta of 1.23. The company’s 50 day moving average price is $15.01 and its two-hundred day moving average price is $15.41. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.98 and a quick ratio of 1.91.

NeoGenomics (NASDAQ:NEO) last issued its earnings results on Tuesday, February 18th. The medical research company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). The company had revenue of $172.00 million during the quarter, compared to analyst estimates of $173.40 million. NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. As a group, analysts expect that NeoGenomics, Inc. will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On NeoGenomics

Several institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in NeoGenomics by 5.2% during the fourth 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 during the period. Summit Investment Advisors Inc. raised its position in NeoGenomics by 6.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 13,339 shares of the medical research company’s stock valued at $220,000 after purchasing an additional 863 shares in the last quarter. Fernwood Investment Management LLC grew its position in shares of NeoGenomics by 1.0% during the third quarter. Fernwood Investment Management LLC now owns 89,500 shares of the medical research company’s stock worth $1,320,000 after buying an additional 900 shares in the last quarter. FMR LLC lifted its stake 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 during the last quarter. Finally, Blue Trust Inc. grew its holdings in NeoGenomics by 42.3% during the 3rd quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock worth $46,000 after acquiring an additional 987 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

About NeoGenomics

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.