NeoGenomics (NEO) Stock Price Down 5.8%

NeoGenomics, Inc. (NASDAQ:NEO) dropped 5.8% during trading on Tuesday . The stock traded as low as $21.72 and last traded at $21.84. Approximately 1,426,093 shares changed hands during trading, an increase of 27% from the average daily volume of 1,121,253 shares. The stock had previously closed at $23.19.

NEO has been the subject of several analyst reports. BidaskClub downgraded NeoGenomics from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 18th. Needham & Company LLC upped their target price on NeoGenomics from $19.00 to $22.00 and gave the company a “buy” rating in a report on Friday, March 29th. Zacks Investment Research raised NeoGenomics from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a report on Tuesday, March 5th. Finally, CIBC raised NeoGenomics from a “neutral” rating to an “outperform” rating and reduced their target price for the company from $18.00 to $15.00 in a report on Tuesday, March 12th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $20.00.

The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 168.00 and a beta of 0.91. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.59 and a quick ratio of 1.46.



NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Tuesday, April 30th. The medical research company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.03. The firm had revenue of $95.60 million for the quarter, compared to analyst estimates of $89.71 million. NeoGenomics had a positive return on equity of 3.07% and a negative net margin of 0.14%. NeoGenomics’s quarterly revenue was up 50.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.04 earnings per share. As a group, equities research analysts anticipate that NeoGenomics, Inc. will post 0.19 EPS for the current fiscal year.

In other NeoGenomics news, Director Raymond R. Hipp sold 150,000 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $22.41, for a total value of $3,361,500.00. Following the transaction, the director now directly owns 256,059 shares of the company’s stock, valued at approximately $5,738,282.19. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Raymond R. Hipp sold 18,889 shares of the company’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $18.90, for a total value of $357,002.10. Following the completion of the transaction, the director now directly owns 297,580 shares in the company, valued at $5,624,262. The disclosure for this sale can be found here. Insiders have sold 602,400 shares of company stock worth $12,693,858 over the last three months. 12.20% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its position in NeoGenomics by 150.5% in the 1st quarter. BlackRock Inc. now owns 13,825,064 shares of the medical research company’s stock worth $282,861,000 after purchasing an additional 8,305,417 shares during the last quarter. Vanguard Group Inc increased its position in NeoGenomics by 24.0% in the 3rd quarter. Vanguard Group Inc now owns 3,839,641 shares of the medical research company’s stock worth $58,939,000 after purchasing an additional 743,245 shares during the last quarter. Vanguard Group Inc. increased its position in NeoGenomics by 24.0% in the 3rd quarter. Vanguard Group Inc. now owns 3,839,641 shares of the medical research company’s stock worth $58,939,000 after purchasing an additional 743,245 shares during the last quarter. Eagle Asset Management Inc. increased its position in NeoGenomics by 19.0% in the 1st quarter. Eagle Asset Management Inc. now owns 2,705,536 shares of the medical research company’s stock worth $55,355,000 after purchasing an additional 431,393 shares during the last quarter. Finally, Brown Advisory Inc. increased its position in NeoGenomics by 66.2% in the 4th quarter. Brown Advisory Inc. now owns 2,441,468 shares of the medical research company’s stock worth $30,787,000 after purchasing an additional 972,288 shares during the last quarter. 76.36% of the stock is currently owned by institutional investors.

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About NeoGenomics (NASDAQ:NEO)

NeoGenomics, Inc, together with its subsidiaries, operates a network of cancer-focused genetic testing laboratories in the United States; and laboratories in Switzerland and Singapore. It operates in two segments, Clinical Services and Pharma Services. The company's laboratories provide genetic and molecular testing services to hospitals, pathologists, oncologists, urologists, other clinicians and researchers, pharmaceutical firms, academic centers, and other clinical laboratories.

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