NeoGenomics (NASDAQ:NEO) Trading Down 3.9%

NeoGenomics, Inc. (NASDAQ:NEO) traded down 3.9% during mid-day trading on Monday . The company traded as low as $44.83 and last traded at $45.03. 2,790 shares were traded during trading, a decline of 100% from the average session volume of 833,041 shares. The stock had previously closed at $46.86.

A number of brokerages recently commented on NEO. The Goldman Sachs Group began coverage on shares of NeoGenomics in a research report on Thursday, June 3rd. They issued a “buy” rating and a $55.00 price objective for the company. Morgan Stanley reduced their price objective on shares of NeoGenomics from $64.00 to $58.00 and set an “overweight” rating for the company in a research report on Monday, August 9th. Needham & Company LLC reiterated a “buy” rating and set a $55.00 price target on shares of NeoGenomics in a research report on Monday, August 9th. Benchmark lifted their price target on shares of NeoGenomics from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, August 26th. Finally, Zacks Investment Research upgraded shares of NeoGenomics from a “sell” rating to a “hold” rating in a research report on Tuesday, August 17th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $52.28.

The stock has a market capitalization of $5.62 billion, a PE ratio of 82.21 and a beta of 0.66. The company has a current ratio of 7.28, a quick ratio of 7.07 and a debt-to-equity ratio of 0.46. The company’s 50 day simple moving average is $46.71 and its 200 day simple moving average is $45.59.

NeoGenomics (NASDAQ:NEO) last released its earnings results on Friday, August 6th. The medical research company reported ($0.04) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.04. The firm had revenue of $121.72 million during the quarter, compared to analysts’ expectations of $120.50 million. NeoGenomics had a net margin of 14.68% and a return on equity of 0.84%. As a group, analysts predict that NeoGenomics, Inc. will post -0.34 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC boosted its position in NeoGenomics by 51.0% during the 1st quarter. Janus Henderson Group PLC now owns 4,103,784 shares of the medical research company’s stock worth $197,926,000 after purchasing an additional 1,386,761 shares during the period. Macquarie Group Ltd. boosted its position in NeoGenomics by 22,636.3% during the 2nd quarter. Macquarie Group Ltd. now owns 871,711 shares of the medical research company’s stock worth $39,375,000 after purchasing an additional 867,877 shares during the period. Blue Water Life Science Advisors LLC purchased a new stake in NeoGenomics during the 2nd quarter worth $31,719,000. First Light Asset Management LLC boosted its position in NeoGenomics by 94.0% during the 1st quarter. First Light Asset Management LLC now owns 1,003,216 shares of the medical research company’s stock worth $48,385,000 after purchasing an additional 486,125 shares during the period. Finally, RTW Investments LP purchased a new stake in NeoGenomics during the 2nd quarter worth $13,139,000. 90.05% of the stock is owned by institutional investors.

NeoGenomics Company Profile (NASDAQ:NEO)

NeoGenomics, Inc is a clinical laboratory company, which engages in cancer genetics diagnostic testing and pharma services. It operates through the Clinical Services and Pharma Services segments. The Clinical Services segment offers cancer testing services to community-based pathologists, hospitals, academic centers, and oncology groups.

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