NeoGenomics (NASDAQ:NEO) Sets New 1-Year Low – Should You Sell?

NeoGenomics, Inc. (NASDAQ:NEO)’s stock price hit a new 52-week low on Thursday . The company traded as low as $8.83 and last traded at $8.95, with a volume of 59626 shares changing hands. The stock had previously closed at $9.42.

Analyst Ratings Changes

A number of brokerages have commented on NEO. Jefferies Financial Group initiated coverage on shares of NeoGenomics in a report on Tuesday, December 10th. They set a “buy” rating and a $22.00 price objective on the stock. Piper Sandler cut their target price on shares of NeoGenomics from $21.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. The Goldman Sachs Group lowered their price target on shares of NeoGenomics from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Needham & Company LLC cut their price objective on shares of NeoGenomics from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Finally, Benchmark cut shares of NeoGenomics from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.60.

NeoGenomics Stock Down 4.9 %

The company has a debt-to-equity ratio of 0.38, a current ratio of 1.98 and a quick ratio of 1.91. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -14.47 and a beta of 1.28. The firm has a 50-day moving average price of $11.63 and a two-hundred day moving average price of $14.21.

NeoGenomics (NASDAQ:NEO) last announced its earnings results on Tuesday, February 18th. The medical research company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.05). NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. The business had revenue of $172.00 million for the quarter, compared to analyst estimates of $173.40 million. As a group, sell-side analysts anticipate that NeoGenomics, Inc. will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Loomis Sayles & Co. L P increased its holdings in NeoGenomics by 48.4% during the fourth quarter. Loomis Sayles & Co. L P now owns 1,791,792 shares of the medical research company’s stock worth $29,528,000 after buying an additional 584,502 shares during the last quarter. Norges Bank acquired a new position in shares of NeoGenomics during the 4th quarter worth about $6,273,000. Jennison Associates LLC lifted its stake in NeoGenomics by 18.7% in the 4th quarter. Jennison Associates LLC now owns 1,514,756 shares of the medical research company’s stock valued at $24,963,000 after purchasing an additional 238,288 shares during the last quarter. Greenhouse Funds LLLP lifted its stake in NeoGenomics by 5.3% in the 4th quarter. Greenhouse Funds LLLP now owns 4,701,897 shares of the medical research company’s stock valued at $77,487,000 after purchasing an additional 237,491 shares during the last quarter. Finally, Segall Bryant & Hamill LLC grew its holdings in NeoGenomics by 11.6% during the fourth quarter. Segall Bryant & Hamill LLC now owns 2,113,822 shares of the medical research company’s stock worth $34,836,000 after purchasing an additional 220,415 shares during the period. 98.50% of the stock is currently owned by institutional investors.

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.