NeoGenomics (NASDAQ:NEO) Shares Gap Up – Time to Buy?

NeoGenomics, Inc. (NASDAQ:NEO)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $13.78, but opened at $14.95. NeoGenomics shares last traded at $14.72, with a volume of 512,658 shares.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Benchmark lowered shares of NeoGenomics from a “buy” rating to a “hold” rating in a research report on Monday. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 target price on shares of NeoGenomics in a research report on Friday, January 10th. Bank of America increased their target price on shares of NeoGenomics from $18.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Finally, Jefferies Financial Group assumed coverage on shares of NeoGenomics in a research report on Tuesday, December 10th. They issued a “buy” rating and a $22.00 target price for the company. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, NeoGenomics currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.30.

NeoGenomics Stock Up 8.2 %

The business has a fifty day moving average of $16.77 and a 200 day moving average of $15.67. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of -24.44 and a beta of 1.24. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.99 and a quick ratio of 1.91.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings data on Tuesday, November 5th. The medical research company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. NeoGenomics had a negative return on equity of 2.11% and a negative net margin of 12.07%. The firm had revenue of $167.80 million for the quarter, compared to the consensus estimate of $167.00 million. During the same quarter in the prior year, the company posted ($0.06) earnings per share. The firm’s revenue was up 10.5% on a year-over-year basis. On average, equities analysts predict that NeoGenomics, Inc. will post -0.16 earnings per share for the current year.

Insider Buying and Selling at NeoGenomics

In other news, General Counsel Alicia C. Olivo sold 5,175 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $15.36, for a total value of $79,488.00. Following the completion of the sale, the general counsel now directly owns 37,129 shares of the company’s stock, valued at approximately $570,301.44. This represents a 12.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On NeoGenomics

Several hedge funds have recently modified their holdings of the business. Arizona State Retirement System boosted its position in shares of NeoGenomics by 2.0% in the second quarter. Arizona State Retirement System now owns 35,739 shares of the medical research company’s stock valued at $496,000 after acquiring an additional 708 shares during the period. Fernwood Investment Management LLC lifted its position in NeoGenomics by 1.0% in the third quarter. Fernwood Investment Management LLC now owns 89,500 shares of the medical research company’s stock worth $1,320,000 after purchasing an additional 900 shares during the period. FMR LLC lifted its holdings in shares of NeoGenomics by 7.6% during the third quarter. FMR LLC now owns 13,255 shares of the medical research company’s stock valued at $196,000 after acquiring an additional 931 shares during the period. Blue Trust Inc. lifted its holdings in shares of NeoGenomics by 42.3% during the third quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock valued at $46,000 after acquiring an additional 987 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of NeoGenomics by 3.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 32,505 shares of the medical research company’s stock valued at $451,000 after acquiring an additional 1,030 shares during the period. 98.50% of the stock is owned by institutional investors.

NeoGenomics Company Profile

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.