NeoGenomics (NASDAQ:NEO) Reaches New 12-Month Low at $35.86

NeoGenomics, Inc. (NASDAQ:NEO)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $35.86 and last traded at $36.38, with a volume of 15210 shares. The stock had previously closed at $37.98.

Several research firms have recently issued reports on NEO. SVB Leerink reduced their price target on NeoGenomics from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, November 5th. Morgan Stanley lowered NeoGenomics from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $58.00 to $45.00 in a report on Friday, November 5th. Zacks Investment Research upgraded NeoGenomics from a “sell” rating to a “hold” rating in a report on Wednesday, November 17th. Raymond James upgraded NeoGenomics from a “market perform” rating to an “outperform” rating and set a $53.00 target price on the stock in a report on Thursday, October 14th. Finally, Benchmark lifted their target price on NeoGenomics from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, August 26th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $54.89.

The company has a 50 day simple moving average of $44.06 and a 200-day simple moving average of $44.12. The stock has a market cap of $4.63 billion, a price-to-earnings ratio of 104.53 and a beta of 0.60. The company has a current ratio of 7.66, a quick ratio of 7.42 and a debt-to-equity ratio of 0.47.

NeoGenomics (NASDAQ:NEO) last released its earnings results on Thursday, November 4th. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The business had revenue of $121.30 million for the quarter, compared to the consensus estimate of $125.09 million. NeoGenomics had a negative return on equity of 1.33% and a net margin of 10.08%. NeoGenomics’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.04 earnings per share. Equities analysts forecast that NeoGenomics, Inc. will post -0.35 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in NeoGenomics by 1.4% during the second quarter. Vanguard Group Inc. now owns 12,197,560 shares of the medical research company’s stock worth $550,964,000 after buying an additional 168,921 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of NeoGenomics by 36.7% during the third quarter. Wellington Management Group LLP now owns 7,585,848 shares of the medical research company’s stock worth $365,942,000 after acquiring an additional 2,037,787 shares during the period. Artisan Partners Limited Partnership boosted its holdings in shares of NeoGenomics by 43.1% during the third quarter. Artisan Partners Limited Partnership now owns 6,931,041 shares of the medical research company’s stock worth $334,353,000 after acquiring an additional 2,086,662 shares during the period. State Street Corp boosted its holdings in shares of NeoGenomics by 5.8% during the second quarter. State Street Corp now owns 3,489,471 shares of the medical research company’s stock worth $157,619,000 after acquiring an additional 190,095 shares during the period. Finally, Macquarie Group Ltd. boosted its holdings in shares of NeoGenomics by 134.3% during the third quarter. Macquarie Group Ltd. now owns 2,042,456 shares of the medical research company’s stock worth $98,528,000 after acquiring an additional 1,170,745 shares during the period. 89.98% of the stock is currently owned by institutional investors and hedge funds.

NeoGenomics Company Profile (NASDAQ:NEO)

NeoGenomics, Inc is a clinical laboratory company, which engages in cancer genetics diagnostic testing and pharma services. It operates through the Clinical Services and Pharma Services segments. The Clinical Services segment offers cancer testing services to community-based pathologists, hospitals, academic centers, and oncology groups.

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