NeoGenomics (NASDAQ:NEO) Hits New 52-Week Low – Time to Sell?

NeoGenomics, Inc. (NASDAQ:NEO) reached a new 52-week low on Tuesday . The company traded as low as $12.13 and last traded at $12.63, with a volume of 3528324 shares. The stock had previously closed at $14.77.

Analyst Ratings Changes

Several brokerages have commented on NEO. Bank of America raised their price objective on NeoGenomics from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Benchmark lowered shares of NeoGenomics from a “buy” rating to a “hold” rating in a report on Monday. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price objective on shares of NeoGenomics in a report on Friday. Finally, Jefferies Financial Group initiated coverage on shares of NeoGenomics in a research note on Tuesday, December 10th. They set a “buy” rating and a $22.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $20.30.

NeoGenomics Stock Performance

The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -20.70 and a beta of 1.24. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.99 and a quick ratio of 1.91. The firm has a fifty day moving average of $16.79 and a 200 day moving average of $15.67.

NeoGenomics (NASDAQ:NEO) last issued its earnings results on Tuesday, November 5th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The business had revenue of $167.80 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 10.5% on a year-over-year basis. During the same period last year, the company earned ($0.06) EPS. As a group, sell-side analysts forecast that NeoGenomics, Inc. will post -0.16 EPS for the current year.

Insider Buying and Selling at NeoGenomics

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Moody National Bank Trust Division boosted its position in shares of NeoGenomics by 20.2% during the fourth quarter. Moody National Bank Trust Division now owns 73,226 shares of the medical research company’s stock worth $1,207,000 after buying an additional 12,314 shares during the period. Nordea Investment Management AB boosted its holdings in NeoGenomics by 2.8% during the 4th quarter. Nordea Investment Management AB now owns 77,534 shares of the medical research company’s stock valued at $1,301,000 after acquiring an additional 2,125 shares during the period. Versant Capital Management Inc grew its position in NeoGenomics by 174.9% in the 4th quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 1,142 shares in the last quarter. Franklin Resources Inc. increased its stake in NeoGenomics by 2.0% during the third quarter. Franklin Resources Inc. now owns 2,043,840 shares of the medical research company’s stock worth $28,225,000 after purchasing an additional 39,740 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of NeoGenomics by 1.2% during the third quarter. Geode Capital Management LLC now owns 3,051,806 shares of the medical research company’s stock worth $45,022,000 after purchasing an additional 36,136 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

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.