NeoGenomics (NASDAQ:NEO) Reaches New 52-Week Low – Should You Sell?

NeoGenomics, Inc. (NASDAQ:NEO) shares reached a new 52-week low on Tuesday . The stock traded as low as $12.13 and last traded at $12.63, with a volume of 3528324 shares traded. The stock had previously closed at $14.77.

Wall Street Analysts Forecast Growth

NEO has been the subject of several analyst reports. Jefferies Financial Group initiated coverage on NeoGenomics in a report on Tuesday, December 10th. They set a “buy” rating and a $22.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price objective on shares of NeoGenomics in a research note on Friday, January 10th. Benchmark lowered shares of NeoGenomics from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Bank of America increased their price objective on NeoGenomics from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, NeoGenomics presently has a consensus rating of “Moderate Buy” and an average price target of $20.30.

NeoGenomics Stock Up 6.7 %

The firm has a 50-day moving average of $16.75 and a two-hundred day moving average of $15.66. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.91 and a current ratio of 1.99.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Tuesday, November 5th. The medical research company reported $0.05 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $167.80 million during the quarter, compared to analysts’ expectations of $167.00 million. During the same period in the prior year, the business earned ($0.06) earnings per share. NeoGenomics’s revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, analysts expect that NeoGenomics, Inc. will post -0.16 EPS for the current year.

Insider Activity at NeoGenomics

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 5,175 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $15.36, for a total transaction of $79,488.00. Following the completion of the transaction, the general counsel now owns 37,129 shares in the company, valued at $570,301.44. This trade represents a 12.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On NeoGenomics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc lifted its holdings in NeoGenomics by 174.9% during the 4th quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 1,142 shares during the last quarter. Quarry LP bought a new position in NeoGenomics in the 3rd quarter valued at $40,000. Blue Trust Inc. boosted its stake in NeoGenomics by 42.3% in the third quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock worth $46,000 after purchasing an additional 987 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of NeoGenomics during the second quarter worth $57,000. Finally, KBC Group NV increased its stake in shares of NeoGenomics by 33.1% in the third quarter. KBC Group NV now owns 4,530 shares of the medical research company’s stock valued at $67,000 after buying an additional 1,127 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

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.