NeoGenomics (NASDAQ:NEO) Stock Price Down 6.4%

NeoGenomics, Inc. (NASDAQ:NEO) shares were down 6.4% on Tuesday . The company traded as low as $13.75 and last traded at $13.81. Approximately 785,880 shares were traded during mid-day trading, a decline of 4% from the average daily volume of 814,727 shares. The stock had previously closed at $14.75.

Analyst Ratings Changes

A number of analysts have commented on NEO shares. Needham & Company LLC reissued a “buy” rating and set a $19.00 price objective on shares of NeoGenomics in a report on Wednesday, September 25th. Benchmark reaffirmed a “buy” rating and set a $18.00 target price on shares of NeoGenomics in a research report on Tuesday, September 24th. Finally, Stephens reissued an “overweight” rating and issued a $19.00 price target on shares of NeoGenomics in a research report on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.89.

NeoGenomics Stock Performance

The company has a market cap of $1.76 billion, a P/E ratio of -20.97 and a beta of 1.19. The company has a quick ratio of 1.93, a current ratio of 2.01 and a debt-to-equity ratio of 0.37. The company’s 50-day moving average is $16.06 and its two-hundred day moving average is $14.92.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Monday, July 29th. The medical research company reported $0.03 EPS for the quarter. The business had revenue of $164.50 million for the quarter, compared to the consensus estimate of $161.82 million. NeoGenomics had a negative return on equity of 2.72% and a negative net margin of 12.50%. NeoGenomics’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.09) earnings per share. Equities analysts predict that NeoGenomics, Inc. will post -0.22 EPS for the current year.

Institutional Trading of NeoGenomics

Several institutional investors and hedge funds have recently bought and sold shares of NEO. Algert Global LLC grew its position in shares of NeoGenomics by 95.6% during the 2nd quarter. Algert Global LLC now owns 26,283 shares of the medical research company’s stock valued at $365,000 after purchasing an additional 12,843 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in NeoGenomics by 4.3% during the second quarter. The Manufacturers Life Insurance Company now owns 70,595 shares of the medical research company’s stock valued at $979,000 after buying an additional 2,904 shares during the period. Squarepoint Ops LLC purchased a new position in NeoGenomics during the second quarter worth about $517,000. First Light Asset Management LLC increased its stake in NeoGenomics by 14.5% in the 2nd quarter. First Light Asset Management LLC now owns 3,782,561 shares of the medical research company’s stock worth $52,464,000 after acquiring an additional 480,396 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its position in shares of NeoGenomics by 7.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 280,981 shares of the medical research company’s stock valued at $3,897,000 after acquiring an additional 19,712 shares during the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

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.