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

NeoGenomics, Inc. (NASDAQ:NEO)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $14.35 and last traded at $14.1770, with a volume of 96414 shares changing hands. The stock had previously closed at $14.17.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on NEO shares. Wall Street Zen upgraded NeoGenomics from a “hold” rating to a “buy” rating in a research report on Saturday. TD Cowen upped their price objective on NeoGenomics from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Benchmark raised NeoGenomics from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Wednesday, April 29th. Leerink Partners upgraded NeoGenomics from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $12.00 to $25.00 in a report on Wednesday, April 29th. Finally, William Blair reissued a “market perform” rating on shares of NeoGenomics in a research report on Monday, March 16th. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, NeoGenomics has an average rating of “Hold” and a consensus target price of $13.86.

NeoGenomics Stock Up 1.7%

The company has a debt-to-equity ratio of 0.41, a quick ratio of 4.06 and a current ratio of 4.42. The company’s fifty day moving average price is $9.81 and its 200-day moving average price is $10.29. The stock has a market cap of $1.88 billion, a P/E ratio of -18.68 and a beta of 1.82.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings results on Tuesday, April 28th. The medical research company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. NeoGenomics had a negative net margin of 13.30% and a negative return on equity of 2.80%. The company had revenue of $186.67 million for the quarter, compared to the consensus estimate of $184.54 million. The firm’s revenue was up 11.3% compared to the same quarter last year. Equities analysts forecast that NeoGenomics, Inc. will post -0.15 EPS for the current year.

Insider Activity at NeoGenomics

In other news, Director Lynn A. Tetrault sold 5,307 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $11.29, for a total transaction of $59,916.03. Following the transaction, the director owned 91,422 shares of the company’s stock, valued at approximately $1,032,154.38. This represents a 5.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On NeoGenomics

A number of large investors have recently bought and sold shares of NEO. First Light Asset Management LLC increased its stake in NeoGenomics by 1.1% in the fourth quarter. First Light Asset Management LLC now owns 10,035,063 shares of the medical research company’s stock worth $118,012,000 after purchasing an additional 107,794 shares during the period. Greenhouse Funds LLLP lifted its position in shares of NeoGenomics by 10.6% during the third quarter. Greenhouse Funds LLLP now owns 8,220,657 shares of the medical research company’s stock worth $63,463,000 after purchasing an additional 789,510 shares during the last quarter. First Trust Advisors LP purchased a new stake in shares of NeoGenomics during the first quarter valued at $45,725,000. Geode Capital Management LLC grew its holdings in shares of NeoGenomics by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 3,176,644 shares of the medical research company’s stock worth $37,364,000 after purchasing an additional 44,733 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of NeoGenomics by 9.2% in 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. Hedge funds and other institutional investors 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.