NeoGenomics (NASDAQ:NEO) Sets New 52-Week Low – Here’s Why

NeoGenomics, Inc. (NASDAQ:NEO) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $8.83 and last traded at $8.95, with a volume of 59626 shares changing hands. The stock had previously closed at $9.42.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group reduced their price target on shares of NeoGenomics from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Benchmark cut NeoGenomics from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Jefferies Financial Group began coverage on NeoGenomics in a report on Tuesday, December 10th. They issued a “buy” rating and a $22.00 price objective for the company. Piper Sandler dropped their price target on shares of NeoGenomics from $21.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Finally, Bank of America reduced their price objective on shares of NeoGenomics from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.60.

NeoGenomics Stock Down 4.9 %

The business has a fifty day moving average price of $11.63 and a two-hundred day moving average price of $14.21. The company has a current ratio of 1.98, a quick ratio of 1.91 and a debt-to-equity ratio of 0.38. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -14.47 and a beta of 1.28.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings results on Tuesday, February 18th. The medical research company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. The company had revenue of $172.00 million during the quarter, compared to analyst estimates of $173.40 million. On average, equities analysts predict that NeoGenomics, Inc. will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On NeoGenomics

Large investors have recently bought and sold shares of the stock. SBI Securities Co. Ltd. bought a new stake in shares of NeoGenomics during the fourth quarter valued at approximately $26,000. Versant Capital Management Inc grew its holdings in shares of NeoGenomics by 174.9% in the 4th quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company’s stock worth $30,000 after purchasing an additional 1,142 shares during the last quarter. Quarry LP acquired a new stake in shares of NeoGenomics during the third quarter worth approximately $40,000. Sterling Capital Management LLC raised its stake in shares of NeoGenomics by 788.7% in the fourth quarter. Sterling Capital Management LLC now owns 3,706 shares of the medical research company’s stock valued at $61,000 after acquiring an additional 3,289 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of NeoGenomics by 203.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,156 shares of the medical research company’s stock worth $70,000 after acquiring an additional 2,787 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

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.