NeoGenomics (NASDAQ:NEO) Sets New 12-Month High – Should You Buy?

NeoGenomics, Inc. (NASDAQ:NEO)’s stock price reached 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.

Analyst Upgrades and Downgrades

NEO has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 price target on shares of NeoGenomics in a report on Wednesday, November 6th. Benchmark reiterated a “buy” rating and issued a $18.00 price target on shares of NeoGenomics in a research note on Tuesday, September 24th. Jefferies Financial Group began coverage on NeoGenomics in a research note on Tuesday, December 10th. They set a “buy” rating and a $22.00 price target on the stock. Finally, Bank of America lifted their target price on shares of NeoGenomics from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.30.

NeoGenomics Price Performance

The company has a current ratio of 1.99, a quick ratio of 1.91 and a debt-to-equity ratio of 0.37. The firm’s fifty day moving average price is $16.70 and its 200 day moving average price is $15.61. The firm has a market capitalization of $2.39 billion, a PE ratio of -30.51 and a beta of 1.24.

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

Insiders Place Their Bets

In related news, General Counsel Alicia C. Olivo sold 5,175 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $15.36, for a total value of $79,488.00. Following the completion of the transaction, the general counsel now directly owns 37,129 shares in the company, valued at $570,301.44. The trade was a 12.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Trading of NeoGenomics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NEO. Versant Capital Management Inc boosted its stake in shares of NeoGenomics by 174.9% during the 4th quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company’s stock worth $30,000 after acquiring an additional 1,142 shares in the last quarter. Quarry LP purchased a new position in NeoGenomics during the third quarter worth approximately $40,000. Blue Trust Inc. grew its holdings in NeoGenomics by 42.3% in the third quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock valued at $46,000 after purchasing an additional 987 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of NeoGenomics in the second quarter valued at approximately $57,000. Finally, KBC Group NV grew its stake in NeoGenomics by 33.1% in the 3rd quarter. KBC Group NV now owns 4,530 shares of the medical research company’s stock valued at $67,000 after acquiring an additional 1,127 shares during the period. Institutional investors and hedge funds 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.