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

NeoGenomics, Inc. (NASDAQ:NEO) reached a new 52-week high during trading on Thursday . The company traded as high as $17.46 and last traded at $17.37, with a volume of 1679789 shares traded. The stock had previously closed at $16.79.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. TD Cowen reaffirmed a “buy” rating on shares of NeoGenomics in a report on Wednesday, July 15th. Zacks Research upgraded shares of NeoGenomics from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Weiss Ratings raised NeoGenomics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. Wall Street Zen upgraded NeoGenomics from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Finally, Needham & Company LLC increased their price target on NeoGenomics from $15.00 to $19.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.71.

NeoGenomics Stock Down 3.2%

The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of -45.12 and a beta of 1.74. The firm’s fifty day moving average is $15.16 and its 200-day moving average is $11.29. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.60 and a quick ratio of 3.35.

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

Insider Activity at NeoGenomics

In related news, Director Lynn A. Tetrault sold 5,307 shares of NeoGenomics stock in a transaction dated 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 trade represents a 5.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.10% of the company’s stock.

Institutional Trading of NeoGenomics

Several institutional investors and hedge funds have recently bought and sold shares of NEO. First Light Asset Management LLC grew its position in shares of NeoGenomics by 1.1% in the 4th quarter. First Light Asset Management LLC now owns 10,035,063 shares of the medical research company’s stock worth $118,012,000 after acquiring an additional 107,794 shares in the last quarter. First Trust Advisors LP acquired a new stake in shares of NeoGenomics during the 1st quarter valued at approximately $45,725,000. Geode Capital Management LLC raised its position in shares of NeoGenomics by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 3,176,644 shares of the medical research company’s stock valued at $37,364,000 after acquiring an additional 44,733 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in NeoGenomics by 9.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,674,335 shares of the medical research company’s stock worth $19,842,000 after purchasing an additional 225,588 shares during the last quarter. Finally, American Capital Management Inc. lifted its stake in NeoGenomics by 120.9% during the third quarter. American Capital Management Inc. now owns 2,345,263 shares of the medical research company’s stock worth $18,105,000 after purchasing an additional 1,283,390 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

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.