NeoGenomics (NASDAQ:NEO) Hits New 12-Month Low – Here’s What Happened

NeoGenomics, Inc. (NASDAQ:NEO) shares reached a new 52-week low on Thursday . The stock traded as low as $8.83 and last traded at $8.95, with a volume of 59626 shares traded. The stock had previously closed at $9.42.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NEO. Piper Sandler lowered their price objective on NeoGenomics from $21.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Bank of America lowered their price target on NeoGenomics from $19.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Needham & Company LLC reduced their price objective on NeoGenomics from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Jefferies Financial Group assumed coverage on shares of NeoGenomics in a research note on Tuesday, December 10th. They set a “buy” rating and a $22.00 target price on the stock. Finally, The Goldman Sachs Group reduced their target price on shares of NeoGenomics from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.60.

NeoGenomics Stock Up 0.7 %

The company has a debt-to-equity ratio of 0.38, a current ratio of 1.98 and a quick ratio of 1.91. The company has a market capitalization of $1.13 billion, a PE ratio of -14.16 and a beta of 1.28. The business’s 50 day simple moving average is $11.39 and its 200 day simple moving average is $14.12.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings results on Tuesday, February 18th. The medical research company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.05). The firm had revenue of $172.00 million for the quarter, compared to analysts’ expectations of $173.40 million. NeoGenomics had a negative net margin of 11.92% and a negative return on equity of 2.10%. As a group, analysts anticipate that NeoGenomics, Inc. will post -0.2 earnings per share for the current fiscal year.

Institutional Trading of NeoGenomics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. SBI Securities Co. Ltd. acquired a new position in NeoGenomics in the fourth quarter valued at about $26,000. Versant Capital Management Inc raised its stake in shares of NeoGenomics by 174.9% in the 4th quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 1,142 shares during the period. Quarry LP acquired a new position in shares of NeoGenomics in the 3rd quarter worth approximately $40,000. Sterling Capital Management LLC boosted its position in shares of NeoGenomics by 788.7% during the 4th quarter. Sterling Capital Management LLC now owns 3,706 shares of the medical research company’s stock worth $61,000 after purchasing an additional 3,289 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in NeoGenomics by 203.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,156 shares of the medical research company’s stock valued at $70,000 after purchasing an additional 2,787 shares during the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

About NeoGenomics

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.