Shares of NeoGenomics, Inc. (NASDAQ:NEO – Get Free Report) rose 8.8% on Wednesday . The company traded as high as $14.37 and last traded at $14.32. Approximately 505,729 shares traded hands during trading, a decline of 41% from the average daily volume of 858,388 shares. The stock had previously closed at $13.16.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. Piper Sandler lifted their price target on NeoGenomics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, February 26th. Craig Hallum started coverage on shares of NeoGenomics in a report on Wednesday, May 1st. They set a “buy” rating and a $26.00 price target on the stock. Needham & Company LLC reduced their price objective on NeoGenomics from $24.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. TD Cowen decreased their price target on shares of NeoGenomics from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Finally, William Blair reaffirmed an “outperform” rating on shares of NeoGenomics in a research report on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.78.
NeoGenomics Trading Up 6.8 %
The company has a debt-to-equity ratio of 0.58, a quick ratio of 7.22 and a current ratio of 7.48. The company has a market capitalization of $1.80 billion, a PE ratio of -21.56 and a beta of 1.17. The stock has a fifty day moving average of $14.35 and a 200 day moving average of $15.68.
NeoGenomics (NASDAQ:NEO – Get Free Report) last issued its earnings results on Tuesday, April 30th. The medical research company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The company had revenue of $156.24 million for the quarter, compared to the consensus estimate of $149.82 million. NeoGenomics had a negative return on equity of 3.54% and a negative net margin of 13.79%. As a group, sell-side analysts predict that NeoGenomics, Inc. will post -0.21 earnings per share for the current fiscal year.
Institutional Investors Weigh In On NeoGenomics
Several large investors have recently made changes to their positions in NEO. Quadrant Capital Group LLC raised its holdings in shares of NeoGenomics by 22.0% in the 4th quarter. Quadrant Capital Group LLC now owns 4,900 shares of the medical research company’s stock valued at $79,000 after purchasing an additional 883 shares in the last quarter. Banque Cantonale Vaudoise raised its stake in NeoGenomics by 6.6% in the first quarter. Banque Cantonale Vaudoise now owns 15,942 shares of the medical research company’s stock worth $251,000 after buying an additional 993 shares in the last quarter. Handelsbanken Fonder AB raised its stake in NeoGenomics by 7.0% in the fourth quarter. Handelsbanken Fonder AB now owns 19,900 shares of the medical research company’s stock worth $322,000 after buying an additional 1,300 shares in the last quarter. Texas Permanent School Fund Corp lifted its holdings in NeoGenomics by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 111,557 shares of the medical research company’s stock worth $1,753,000 after buying an additional 1,445 shares during the period. Finally, Yousif Capital Management LLC boosted its position in NeoGenomics by 2.6% during the 4th quarter. Yousif Capital Management LLC now owns 65,447 shares of the medical research company’s stock valued at $1,059,000 after acquiring an additional 1,654 shares in the last quarter. 98.50% of the stock is owned by institutional investors.
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.