NeoGenomics (NASDAQ:NEO) Reaches New 12-Month High – Still a Buy?

NeoGenomics, Inc. (NASDAQ:NEO)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $16.34 and last traded at $15.84, with a volume of 2973924 shares trading hands. The stock had previously closed at $15.29.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NEO shares. Wall Street Zen raised shares of NeoGenomics from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. TD Cowen reiterated a “buy” rating on shares of NeoGenomics in a research report on Wednesday, July 15th. Leerink Partners raised shares of NeoGenomics from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $12.00 to $25.00 in a research note on Wednesday, April 29th. Benchmark raised their price objective on shares of NeoGenomics from $11.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Finally, Needham & Company LLC lifted their target price on shares of NeoGenomics from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.71.

NeoGenomics Price Performance

The firm has a 50 day moving average of $12.91 and a 200-day moving average of $10.73. The company has a market cap of $2.04 billion, a P/E ratio of -39.60 and a beta of 1.74. The company has a current ratio of 3.60, a quick ratio of 3.35 and a debt-to-equity ratio of 0.48.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Tuesday, July 28th. The medical research company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. NeoGenomics had a negative return on equity of 1.99% and a negative net margin of 6.77%.The company had revenue of $201.66 million for the quarter, compared to analysts’ expectations of $196.93 million. During the same period in the previous year, the firm earned $0.03 EPS. The firm’s revenue was up 11.2% compared to the same quarter last year. On average, equities research analysts predict that NeoGenomics, Inc. will post -0.15 EPS for the current year.

Insider Activity at NeoGenomics

In other news, Director Lynn A. Tetrault sold 5,307 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $11.29, for a total value of $59,916.03. Following the transaction, the director owned 91,422 shares of the company’s stock, valued at approximately $1,032,154.38. The trade was a 5.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.10% of the company’s stock.

Institutional Trading of NeoGenomics

Institutional investors and hedge funds have recently bought and sold shares of the stock. MFG Wealth Management Inc. purchased a new stake in NeoGenomics in the 2nd quarter worth $1,218,000. Amundi bought a new stake in shares of NeoGenomics in the first quarter worth about $157,000. California State Teachers Retirement System increased its holdings in shares of NeoGenomics by 56.8% in the first quarter. California State Teachers Retirement System now owns 194,103 shares of the medical research company’s stock worth $1,440,000 after purchasing an additional 70,320 shares during the last quarter. Royal Bank of Canada grew its stake in shares of NeoGenomics by 79.9% in the 1st quarter. Royal Bank of Canada now owns 32,433 shares of the medical research company’s stock worth $240,000 after buying an additional 14,402 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of NeoGenomics by 42.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 55,031 shares of the medical research company’s stock worth $408,000 after buying an additional 16,365 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

NeoGenomics Company Profile

NeoGenomics, traded on the Nasdaq under the symbol NEO, is a leading provider of cancer-focused genetic and molecular testing services. Headquartered in Fort Myers, Florida, the company operates an integrated network of CAP-accredited and CLIA-certified laboratories across the United States, Europe and Asia. NeoGenomics delivers diagnostic insights that support oncologists, pathologists and healthcare institutions in the detection, prognosis and treatment of hematologic and solid tumor cancers.

The company’s core service offerings include flow cytometry, immunohistochemistry, fluorescence in situ hybridization (FISH), karyotyping and advanced molecular assays such as next-generation sequencing (NGS) panels and polymerase chain reaction (PCR) tests.