NeoGenomics (NASDAQ:NEO) Sets New 12-Month Low After Earnings Miss

NeoGenomics, Inc. (NASDAQ:NEO) hit a new 52-week low during mid-day trading on Tuesday after the company announced weaker than expected quarterly earnings. The company traded as low as $12.01 and last traded at $11.91, with a volume of 366002 shares changing hands. The stock had previously closed at $14.42.

The medical research company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%.

Analyst Ratings Changes

NEO has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 price objective on shares of NeoGenomics in a research note on Friday, January 10th. Bank of America increased their target price on NeoGenomics from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, December 13th. The Goldman Sachs Group lowered their price target on NeoGenomics from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Jefferies Financial Group initiated coverage on NeoGenomics in a research note on Tuesday, December 10th. They issued a “buy” rating and a $22.00 price objective for the company. Finally, Benchmark lowered NeoGenomics from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.20.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of NEO. PNC Financial Services Group Inc. boosted its stake in shares of NeoGenomics by 5.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 15,610 shares of the medical research company’s stock valued at $257,000 after purchasing an additional 770 shares during the last quarter. Summit Investment Advisors Inc. increased its position in shares of NeoGenomics by 6.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 13,339 shares of the medical research company’s stock worth $220,000 after acquiring an additional 863 shares in the last quarter. Fernwood Investment Management LLC raised 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 acquiring an additional 900 shares during the period. FMR LLC lifted its position in NeoGenomics by 7.6% in the 3rd quarter. FMR LLC now owns 13,255 shares of the medical research company’s stock valued at $196,000 after acquiring an additional 931 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in NeoGenomics by 42.3% in the 3rd quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock worth $46,000 after purchasing an additional 987 shares during the period. Institutional investors own 98.50% of the company’s stock.

NeoGenomics Stock Performance

The stock has a fifty day simple moving average of $15.63 and a 200-day simple moving average of $15.57. The stock has a market cap of $1.59 billion, a P/E ratio of -20.33 and a beta of 1.23. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.91 and a current ratio of 1.99.

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.