NeoGenomics (NASDAQ:NEO) Shares Up 7.4%

NeoGenomics, Inc. (NASDAQ:NEO)’s share price shot up 7.4% during mid-day trading on Tuesday . The stock traded as high as $14.47 and last traded at $14.41. 367,691 shares changed hands during trading, a decline of 59% from the average session volume of 894,080 shares. The stock had previously closed at $13.42.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NEO. The Goldman Sachs Group raised their price target on NeoGenomics from $17.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. TD Cowen lowered their price objective on NeoGenomics from $22.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday, December 29th. William Blair reiterated an “outperform” rating on shares of NeoGenomics in a research report on Wednesday, February 21st. BTIG Research lowered their price objective on NeoGenomics from $25.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, December 29th. Finally, Needham & Company LLC increased their price objective on NeoGenomics from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.50.

NeoGenomics Price Performance

The company’s 50 day moving average price is $15.04 and its 200-day moving average price is $15.88. The stock has a market cap of $1.77 billion, a P/E ratio of -19.79 and a beta of 1.10. The company has a quick ratio of 5.95, a current ratio of 6.20 and a debt-to-equity ratio of 0.57.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings results on Tuesday, February 20th. The medical research company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.05. The firm had revenue of $155.55 million during the quarter, compared to the consensus estimate of $152.90 million. NeoGenomics had a negative net margin of 14.87% and a negative return on equity of 4.13%. As a group, sell-side analysts expect that NeoGenomics, Inc. will post -0.2 earnings per share for the current year.

Insider Activity

In related news, General Counsel Alicia C. Olivo sold 2,587 shares of NeoGenomics stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $14.96, for a total transaction of $38,701.52. Following the completion of the transaction, the general counsel now owns 34,866 shares of the company’s stock, valued at $521,595.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On NeoGenomics

A number of hedge funds have recently bought and sold shares of the company. Brown Advisory Inc. lifted its position in shares of NeoGenomics by 25.0% during the third quarter. Brown Advisory Inc. now owns 8,246,202 shares of the medical research company’s stock valued at $101,428,000 after purchasing an additional 1,651,717 shares in the last quarter. First Light Asset Management LLC lifted its position in shares of NeoGenomics by 29.6% during the fourth quarter. First Light Asset Management LLC now owns 3,926,756 shares of the medical research company’s stock valued at $63,535,000 after purchasing an additional 897,843 shares in the last quarter. Norges Bank bought a new stake in NeoGenomics in the fourth quarter worth about $14,512,000. Schroder Investment Management Group raised its position in NeoGenomics by 26.7% in the third quarter. Schroder Investment Management Group now owns 2,513,307 shares of the medical research company’s stock worth $30,914,000 after acquiring an additional 529,178 shares during the period. Finally, Jennison Associates LLC bought a new stake in NeoGenomics in the third quarter worth about $6,176,000. 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.