NeoGenomics (NASDAQ:NEO) Hits New 1-Year High – Should You Buy?

NeoGenomics, Inc. (NASDAQ:NEO) reached a new 52-week high during trading on Tuesday . The company traded as high as $16.34 and last traded at $15.84, with a volume of 2973924 shares traded. The stock had previously closed at $15.29.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NEO. Zacks Research upgraded NeoGenomics from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. Craig Hallum restated a “buy” rating and set a $19.00 target price on shares of NeoGenomics in a report on Wednesday, July 29th. Needham & Company LLC raised their target price on NeoGenomics from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Weiss Ratings raised NeoGenomics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. Finally, Wall Street Zen upgraded shares of NeoGenomics from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.71.

NeoGenomics Price Performance

The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of -39.32 and a beta of 1.74. The company has a current ratio of 3.60, a quick ratio of 3.35 and a debt-to-equity ratio of 0.48. The company has a 50 day moving average price of $13.17 and a 200 day moving average price of $10.77.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings results on Tuesday, July 28th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.02. The business had revenue of $201.66 million for the quarter, compared to analyst estimates of $196.93 million. NeoGenomics had a negative return on equity of 1.99% and a negative net margin of 6.77%.The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 earnings per share. As a group, equities research analysts forecast that NeoGenomics, Inc. will post -0.09 earnings per share for the current year.

Insider Transactions at NeoGenomics

In other NeoGenomics news, Director Lynn A. Tetrault sold 5,307 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $11.29, for a total transaction of $59,916.03. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible 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.

Institutional Investors Weigh In On NeoGenomics

A number of institutional investors and hedge funds have recently modified their holdings of NEO. Royal Bank of Canada boosted its stake in NeoGenomics by 51.2% in the first quarter. Royal Bank of Canada now owns 56,026 shares of the medical research company’s stock valued at $532,000 after acquiring an additional 18,966 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of NeoGenomics during the 1st quarter valued at $271,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of NeoGenomics by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 75,798 shares of the medical research company’s stock valued at $719,000 after acquiring an additional 3,254 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of NeoGenomics by 19.7% in the 1st quarter. Intech Investment Management LLC now owns 151,806 shares of the medical research company’s stock valued at $1,441,000 after purchasing an additional 24,965 shares during the period. Finally, Creative Planning lifted its stake in shares of NeoGenomics by 20.4% in the 2nd quarter. Creative Planning now owns 16,735 shares of the medical research company’s stock valued at $122,000 after purchasing an additional 2,840 shares during the period. 98.50% of the stock is owned by institutional investors.

About NeoGenomics

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.