NeoGenomics (NASDAQ:NEO) Shares Gap Up – Time to Buy?

NeoGenomics, Inc. (NASDAQ:NEO)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $13.78, but opened at $14.95. NeoGenomics shares last traded at $14.72, with a volume of 512,658 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NEO. Needham & Company LLC reissued a “buy” rating and set a $19.00 price objective on shares of NeoGenomics in a report on Friday, January 10th. Bank of America upped their price target on NeoGenomics from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Jefferies Financial Group started coverage on NeoGenomics in a research note on Tuesday, December 10th. They issued a “buy” rating and a $22.00 price target for the company. Finally, Benchmark lowered NeoGenomics from a “buy” rating to a “hold” rating in a research report on Monday. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.30.

NeoGenomics Stock Up 8.2 %

The company has a current ratio of 1.99, a quick ratio of 1.91 and a debt-to-equity ratio of 0.37. The stock has a market cap of $1.91 billion, a P/E ratio of -24.44 and a beta of 1.24. The firm has a 50-day simple moving average of $16.77 and a two-hundred day simple moving average of $15.67.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Tuesday, November 5th. The medical research company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. The firm had revenue of $167.80 million for the quarter, compared to analysts’ expectations of $167.00 million. NeoGenomics had a negative return on equity of 2.11% and a negative net margin of 12.07%. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.06) EPS. Equities research analysts expect that NeoGenomics, Inc. will post -0.16 earnings per share for the current fiscal year.

Insider Transactions at NeoGenomics

In other news, General Counsel Alicia C. Olivo sold 5,175 shares of NeoGenomics stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $15.36, for a total transaction of $79,488.00. Following the sale, the general counsel now directly owns 37,129 shares of the company’s stock, valued at approximately $570,301.44. This trade represents a 12.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by insiders.

Institutional Trading of NeoGenomics

Hedge funds have recently made changes to their positions in the company. Arizona State Retirement System raised its position in shares of NeoGenomics by 2.0% during the second quarter. Arizona State Retirement System now owns 35,739 shares of the medical research company’s stock worth $496,000 after acquiring an additional 708 shares during the last quarter. Texas Permanent School Fund Corp increased its holdings in NeoGenomics by 12.7% in the second quarter. Texas Permanent School Fund Corp now owns 125,705 shares of the medical research company’s stock worth $1,742,000 after purchasing an additional 14,148 shares in the last quarter. American Century Companies Inc. increased its holdings in NeoGenomics by 5.4% in the second quarter. American Century Companies Inc. now owns 3,261,756 shares of the medical research company’s stock worth $45,241,000 after purchasing an additional 167,145 shares in the last quarter. Federated Hermes Inc. increased its holdings in NeoGenomics by 8.9% in the second quarter. Federated Hermes Inc. now owns 142,587 shares of the medical research company’s stock worth $1,978,000 after purchasing an additional 11,599 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in NeoGenomics by 3.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 32,505 shares of the medical research company’s stock worth $451,000 after purchasing an additional 1,030 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.