NeoGenomics, Inc. (NASDAQ:NEO)’s share price was down 6.6% during trading on Thursday . The company traded as low as $14.59 and last traded at $14.78. Approximately 1,093,848 shares changed hands during trading, an increase of 103% from the average daily volume of 537,765 shares. The stock had previously closed at $15.82.
A number of equities analysts recently commented on NEO shares. Leerink Swann started coverage on NeoGenomics in a report on Tuesday, August 21st. They set an “outperform” rating and a $18.00 price target for the company. Craig Hallum lifted their price target on NeoGenomics from $17.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, October 31st. BidaskClub cut NeoGenomics from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research upgraded NeoGenomics from a “hold” rating to a “strong-buy” rating and set a $21.00 price target for the company in a report on Saturday, November 3rd. Finally, Scotiabank reiterated an “average” rating and set a $24.00 price target on shares of NeoGenomics in a report on Friday, November 16th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $20.33.
The company has a quick ratio of 3.98, a current ratio of 4.13 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $1.37 billion, a P/E ratio of 236.50 and a beta of -0.01.
NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings data on Tuesday, October 30th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.03. The firm had revenue of $69.10 million during the quarter, compared to the consensus estimate of $66.13 million. NeoGenomics had a net margin of 1.70% and a return on equity of 2.63%. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period last year, the business posted $0.01 earnings per share. Equities analysts expect that NeoGenomics, Inc. will post 0.11 earnings per share for the current fiscal year.
In other NeoGenomics news, Director Lynn A. Tetrault sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $16.16, for a total transaction of $80,800.00. Following the completion of the sale, the director now directly owns 47,346 shares in the company, valued at $765,111.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kevin C. Johnson sold 66,007 shares of the firm’s stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $17.03, for a total transaction of $1,124,099.21. Following the sale, the director now owns 97,873 shares of the company’s stock, valued at $1,666,777.19. The disclosure for this sale can be found here. Insiders have sold 4,994,643 shares of company stock valued at $83,771,998 over the last 90 days. Company insiders own 12.20% of the company’s stock.
A number of hedge funds have recently modified their holdings of NEO. Glenmede Trust Co. NA acquired a new stake in NeoGenomics during the third quarter worth approximately $114,000. Cubist Systematic Strategies LLC acquired a new stake in NeoGenomics during the second quarter worth approximately $171,000. AMP Capital Investors Ltd acquired a new stake in NeoGenomics during the second quarter worth approximately $178,000. Prudential Financial Inc. acquired a new stake in NeoGenomics during the third quarter worth approximately $224,000. Finally, PNC Financial Services Group Inc. acquired a new stake in NeoGenomics during the second quarter worth approximately $272,000. Hedge funds and other institutional investors own 83.61% of the company’s stock.
About NeoGenomics (NASDAQ:NEO)
NeoGenomics, Inc, together with its subsidiaries, operates a network of cancer-focused genetic testing laboratories in the United States. It operates through Clinical Services and Pharma Services segments. The company laboratories provide genetic and molecular testing services to hospitals, pathologists, oncologists, urologists, other clinicians and researchers, pharmaceutical firms, and other clinical laboratories.
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