NeoGenomics (NASDAQ:NEO) Hits New 12-Month High – What’s Next?

Shares of NeoGenomics, Inc. (NASDAQ:NEO) hit a new 52-week high during trading on Monday . The stock traded as high as $14.35 and last traded at $14.1770, with a volume of 96414 shares trading hands. The stock had previously closed at $14.17.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NEO. Leerink Partners raised shares of NeoGenomics from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $12.00 to $25.00 in a research report on Wednesday, April 29th. TD Cowen raised their price target on NeoGenomics from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Benchmark upgraded NeoGenomics from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Wednesday, April 29th. William Blair reissued a “market perform” rating on shares of NeoGenomics in a research report on Monday, March 16th. Finally, Wall Street Zen upgraded NeoGenomics from a “hold” rating to a “buy” rating in a research note on Saturday. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, NeoGenomics presently has an average rating of “Hold” and an average target price of $13.86.

NeoGenomics Trading Up 2.4%

The company has a quick ratio of 4.06, a current ratio of 4.42 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of -18.95 and a beta of 1.82. The business has a 50-day moving average of $10.06 and a two-hundred day moving average of $10.33.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Tuesday, April 28th. The medical research company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. NeoGenomics had a negative return on equity of 2.80% and a negative net margin of 13.30%.The firm had revenue of $186.67 million during the quarter, compared to analysts’ expectations of $184.54 million. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. Research analysts predict that NeoGenomics, Inc. will post -0.15 EPS for the current fiscal year.

Insider Activity at NeoGenomics

In related news, Director Lynn A. Tetrault sold 5,307 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $11.29, for a total value of $59,916.03. Following the completion of the transaction, the director directly owned 91,422 shares in the company, valued at approximately $1,032,154.38. This represents a 5.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On NeoGenomics

A number of hedge funds have recently made changes to their positions in NEO. Aberdeen Group plc increased its position in shares of NeoGenomics by 127.1% during the 4th quarter. Aberdeen Group plc now owns 1,798,939 shares of the medical research company’s stock worth $21,156,000 after purchasing an additional 1,006,676 shares in the last quarter. Greenhouse Funds LLLP boosted its position in NeoGenomics by 10.6% in the third quarter. Greenhouse Funds LLLP now owns 8,220,657 shares of the medical research company’s stock valued at $63,463,000 after buying an additional 789,510 shares in the last quarter. Silverback Asset Management LLC acquired a new position in NeoGenomics in the third quarter valued at about $1,554,000. First Light Asset Management LLC grew its stake in NeoGenomics by 45.0% during the third quarter. First Light Asset Management LLC now owns 9,927,269 shares of the medical research company’s stock worth $76,639,000 after buying an additional 3,080,837 shares during the last quarter. Finally, GW&K Investment Management LLC grew its stake in NeoGenomics by 7.5% during the fourth quarter. GW&K Investment Management LLC now owns 2,238,767 shares of the medical research company’s stock worth $26,328,000 after buying an additional 155,882 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

NeoGenomics Company Profile

NeoGenomics, traded on the Nasdaq under the symbol NEO, is a leading provider of cancer-focused genetic and molecular testing services. Headquartered in Fort Myers, Florida, the company operates an integrated network of CAP-accredited and CLIA-certified laboratories across the United States, Europe and Asia. NeoGenomics delivers diagnostic insights that support oncologists, pathologists and healthcare institutions in the detection, prognosis and treatment of hematologic and solid tumor cancers.

The company’s core service offerings include flow cytometry, immunohistochemistry, fluorescence in situ hybridization (FISH), karyotyping and advanced molecular assays such as next-generation sequencing (NGS) panels and polymerase chain reaction (PCR) tests.