NeoGenomics (NASDAQ:NEO) Reaches New 12-Month High – What’s Next?

Shares of NeoGenomics, Inc. (NASDAQ:NEO) hit a new 52-week high during trading on Thursday . The company traded as high as $19.12 and last traded at $18.61, with a volume of 711302 shares trading hands. The stock had previously closed at $18.36.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NEO shares. Jefferies Financial Group began coverage on shares of NeoGenomics in a research report on Tuesday, December 10th. They issued a “buy” rating and a $22.00 price objective for the company. Bank of America boosted their price target on NeoGenomics from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 price objective on shares of NeoGenomics in a research report on Friday. Finally, Benchmark restated a “buy” rating and issued a $18.00 price target on shares of NeoGenomics in a research note on Tuesday, September 24th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, NeoGenomics currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.30.

NeoGenomics Stock Performance

The stock has a 50 day simple moving average of $16.82 and a 200 day simple moving average of $15.64. The stock has a market cap of $1.90 billion, a P/E ratio of -24.21 and a beta of 1.24. The company has a current ratio of 1.99, a quick ratio of 1.91 and a debt-to-equity ratio of 0.37.

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

Insider Transactions at NeoGenomics

In other news, General Counsel Alicia C. Olivo sold 5,175 shares of the business’s stock in a transaction on Friday, November 15th. The stock was 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 of the company’s stock, valued at approximately $570,301.44. The trade was a 12.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Nordea Investment Management AB grew its holdings in shares of NeoGenomics by 2.8% during the 4th quarter. Nordea Investment Management AB now owns 77,534 shares of the medical research company’s stock valued at $1,301,000 after purchasing an additional 2,125 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of NeoGenomics by 174.9% during the fourth quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company’s stock worth $30,000 after buying an additional 1,142 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of NeoGenomics by 2.0% during the third quarter. Franklin Resources Inc. now owns 2,043,840 shares of the medical research company’s stock worth $28,225,000 after buying an additional 39,740 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of NeoGenomics by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 3,051,806 shares of the medical research company’s stock valued at $45,022,000 after acquiring an additional 36,136 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of NeoGenomics by 1.6% during the 3rd quarter. State Street Corp now owns 4,958,582 shares of the medical research company’s stock valued at $73,139,000 after acquiring an additional 80,449 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

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.