NeoGenomics (NASDAQ:NEO) Shares Down 3.2%

NeoGenomics, Inc. (NASDAQ:NEO) shares dropped 3.2% on Monday . The stock traded as low as $15.50 and last traded at $15.52. Approximately 121,616 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 814,304 shares. The stock had previously closed at $16.04.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NEO shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 price objective on shares of NeoGenomics in a research report on Tuesday, July 30th. Benchmark reissued a “buy” rating and issued a $18.00 target price on shares of NeoGenomics in a research report on Tuesday, July 30th. Finally, Stephens reaffirmed an “overweight” rating and set a $19.00 price target on shares of NeoGenomics in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.89.

NeoGenomics Price Performance

The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.93 and a current ratio of 2.01. The firm has a market cap of $1.96 billion, a PE ratio of -24.47 and a beta of 1.19. The stock’s fifty day moving average price is $15.60 and its 200-day moving average price is $14.93.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings results on Monday, July 29th. The medical research company reported $0.03 EPS for the quarter. NeoGenomics had a negative net margin of 12.50% and a negative return on equity of 2.72%. The business had revenue of $164.50 million for the quarter, compared to analyst estimates of $161.82 million. During the same period in the prior year, the business earned ($0.09) earnings per share. The company’s quarterly revenue was up 12.0% on a year-over-year basis. As a group, equities analysts forecast that NeoGenomics, Inc. will post -0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Blue Trust Inc. grew its stake in NeoGenomics by 107.2% during the second quarter. Blue Trust Inc. now owns 2,331 shares of the medical research company’s stock worth $32,000 after buying an additional 1,206 shares during the period. Burkett Financial Services LLC purchased a new position in NeoGenomics in the 4th quarter worth approximately $46,000. Canada Pension Plan Investment Board acquired a new stake in NeoGenomics in the second quarter valued at approximately $57,000. Quadrant Capital Group LLC raised its stake in shares of NeoGenomics by 22.0% during the fourth quarter. Quadrant Capital Group LLC now owns 4,900 shares of the medical research company’s stock valued at $79,000 after purchasing an additional 883 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in shares of NeoGenomics by 27.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,434 shares of the medical research company’s stock worth $136,000 after purchasing an additional 1,791 shares in the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

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.