NeoGenomics (NASDAQ:NEO) Stock Price Down 6.4%

Shares of NeoGenomics, Inc. (NASDAQ:NEO) were down 6.4% during trading on Tuesday . The stock traded as low as $13.75 and last traded at $13.81. Approximately 785,880 shares changed hands during mid-day trading, a decline of 4% from the average daily volume of 814,727 shares. The stock had previously closed at $14.75.

Analysts Set New Price Targets

Several equities analysts have commented on NEO shares. Benchmark reissued a “buy” rating and issued a $18.00 target price on shares of NeoGenomics in a report on Tuesday, September 24th. Stephens reissued an “overweight” rating and issued a $19.00 target price on shares of NeoGenomics in a report on Tuesday, July 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price target on shares of NeoGenomics in a report on Wednesday, September 25th. Two research 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.89.

NeoGenomics Stock Down 6.4 %

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 stock has a market capitalization of $1.76 billion, a P/E ratio of -20.97 and a beta of 1.19. The stock’s fifty day simple moving average is $16.06 and its two-hundred day simple moving average is $14.92.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NEO. Algert Global LLC increased its holdings in NeoGenomics by 95.6% in the second quarter. Algert Global LLC now owns 26,283 shares of the medical research company’s stock worth $365,000 after purchasing an additional 12,843 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of NeoGenomics by 4.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 70,595 shares of the medical research company’s stock valued at $979,000 after acquiring an additional 2,904 shares during the period. Squarepoint Ops LLC bought a new position in NeoGenomics during the second quarter worth $517,000. First Light Asset Management LLC grew its holdings in NeoGenomics by 14.5% in the second quarter. First Light Asset Management LLC now owns 3,782,561 shares of the medical research company’s stock worth $52,464,000 after purchasing an additional 480,396 shares during the period. Finally, Public Sector Pension Investment Board increased its stake in NeoGenomics by 7.5% in the second quarter. Public Sector Pension Investment Board now owns 280,981 shares of the medical research company’s stock valued at $3,897,000 after purchasing an additional 19,712 shares in the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

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.