NeoGenomics (NASDAQ:NEO) Stock Price Down 8% – Should You Sell?

Shares of NeoGenomics, Inc. (NASDAQ:NEO) dropped 8% on Monday . The company traded as low as $13.55 and last traded at $13.59. Approximately 226,218 shares were traded during trading, a decline of 72% from the average daily volume of 819,208 shares. The stock had previously closed at $14.77.

Analysts Set New Price Targets

A number of brokerages have issued reports on NEO. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price target on shares of NeoGenomics in a report on Friday, January 10th. Benchmark downgraded NeoGenomics from a “buy” rating to a “hold” rating in a research note on Monday. Bank of America boosted their price objective on NeoGenomics from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Finally, Jefferies Financial Group assumed coverage on shares of NeoGenomics in a research report on Tuesday, December 10th. They set a “buy” rating and a $22.00 target price on the stock. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.30.

NeoGenomics Stock Performance

The company has a market capitalization of $1.77 billion, a PE ratio of -22.59 and a beta of 1.24. The stock has a 50-day simple moving average of $16.77 and a 200 day simple moving average of $15.67. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.99 and a quick ratio of 1.91.

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

Insider Transactions at NeoGenomics

In related news, General Counsel Alicia C. Olivo sold 5,175 shares of the business’s stock in a transaction dated 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 owns 37,129 shares of the company’s stock, valued at approximately $570,301.44. The trade was a 12.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On NeoGenomics

A number of hedge funds and other institutional investors have recently modified their holdings of NEO. Arizona State Retirement System boosted its position in NeoGenomics by 2.0% during the second quarter. Arizona State Retirement System now owns 35,739 shares of the medical research company’s stock worth $496,000 after acquiring an additional 708 shares during the last quarter. Fernwood Investment Management LLC boosted its holdings in shares of NeoGenomics by 1.0% during the third quarter. Fernwood Investment Management LLC now owns 89,500 shares of the medical research company’s stock worth $1,320,000 after purchasing an additional 900 shares during the last quarter. FMR LLC grew its position in shares of NeoGenomics by 7.6% in the third quarter. FMR LLC now owns 13,255 shares of the medical research company’s stock valued at $196,000 after purchasing an additional 931 shares during the period. Blue Trust Inc. increased its stake 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 last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in NeoGenomics by 3.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 32,505 shares of the medical research company’s stock worth $451,000 after buying an additional 1,030 shares during the period. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

About NeoGenomics

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.