NeoGenomics (NASDAQ:NEO) Stock Price Down 3.9%

NeoGenomics, Inc. (NASDAQ:NEO)’s stock price was down 3.9% during trading on Monday . The stock traded as low as $44.83 and last traded at $45.03. Approximately 2,790 shares changed hands during mid-day trading, a decline of 100% from the average daily volume of 833,041 shares. The stock had previously closed at $46.86.

Several equities research analysts recently commented on NEO shares. The Goldman Sachs Group started coverage on shares of NeoGenomics in a research report on Thursday, June 3rd. They issued a “buy” rating and a $55.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 target price on shares of NeoGenomics in a research report on Monday, August 9th. Zacks Investment Research upgraded shares of NeoGenomics from a “sell” rating to a “hold” rating in a research report on Tuesday, August 17th. Benchmark increased their target price on shares of NeoGenomics from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, August 26th. Finally, Morgan Stanley cut their target price on shares of NeoGenomics from $64.00 to $58.00 and set an “overweight” rating for the company in a research report on Monday, August 9th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $52.28.

The company’s 50 day moving average price is $46.71 and its 200 day moving average price is $45.59. The company has a market cap of $5.62 billion, a price-to-earnings ratio of 82.21 and a beta of 0.66. The company has a debt-to-equity ratio of 0.46, a quick ratio of 7.07 and a current ratio of 7.28.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings results on Friday, August 6th. The medical research company reported ($0.04) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.04. NeoGenomics had a net margin of 14.68% and a return on equity of 0.84%. The company had revenue of $121.72 million for the quarter, compared to analyst estimates of $120.50 million. On average, equities research analysts forecast that NeoGenomics, Inc. will post -0.34 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Captrust Financial Advisors grew its stake in NeoGenomics by 516.3% in the 1st quarter. Captrust Financial Advisors now owns 1,325 shares of the medical research company’s stock valued at $64,000 after buying an additional 1,110 shares during the last quarter. Blume Capital Management Inc. acquired a new position in NeoGenomics in the 2nd quarter valued at $92,000. HighMark Wealth Management LLC grew its stake in NeoGenomics by 641.8% in the 2nd quarter. HighMark Wealth Management LLC now owns 2,767 shares of the medical research company’s stock valued at $125,000 after buying an additional 2,394 shares during the last quarter. First Mercantile Trust Co. grew its stake in NeoGenomics by 69.8% in the 1st quarter. First Mercantile Trust Co. now owns 2,805 shares of the medical research company’s stock valued at $135,000 after buying an additional 1,153 shares during the last quarter. Finally, Nkcfo LLC acquired a new position in NeoGenomics in the 2nd quarter valued at $140,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

About NeoGenomics (NASDAQ:NEO)

NeoGenomics, Inc is a clinical laboratory company, which engages in cancer genetics diagnostic testing and pharma services. It operates through the Clinical Services and Pharma Services segments. The Clinical Services segment offers cancer testing services to community-based pathologists, hospitals, academic centers, and oncology groups.

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