NeoGenomics (NASDAQ:NEO) Sets New 1-Year High at $47.75

   2020-12-02 10:12

NeoGenomics, Inc. (NASDAQ:NEO)’s stock price hit a new 52-week high on Monday . The company traded as high as $47.75 and last traded at $46.80, with a volume of 5783 shares. The stock had previously closed at $47.36.



A number of equities analysts recently weighed in on the stock. CIBC raised shares of NeoGenomics to an “outperformer” rating and boosted their price target for the stock from $10.50 to $14.50 in a report on Monday, October 26th. ValuEngine cut NeoGenomics from a “buy” rating to a “hold” rating in a research report on Monday, November 2nd. Guggenheim assumed coverage on NeoGenomics in a research note on Friday, August 28th. They set a “buy” rating and a $46.00 price objective for the company. Benchmark raised their price target on NeoGenomics from $40.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, October 28th. Finally, Raymond James increased their price objective on NeoGenomics from $40.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, October 28th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. NeoGenomics has a consensus rating of “Buy” and an average target price of $40.96.

The company has a debt-to-equity ratio of 0.25, a current ratio of 6.54 and a quick ratio of 6.22. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of -1,569.14 and a beta of 0.68. The business has a fifty day moving average price of $42.57 and a two-hundred day moving average price of $36.32.

NeoGenomics (NASDAQ:NEO) last issued its earnings results on Tuesday, October 27th. The medical research company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. NeoGenomics had a positive return on equity of 0.71% and a negative net margin of 1.16%. The firm had revenue of $125.40 million for the quarter, compared to the consensus estimate of $126.23 million. During the same quarter in the prior year, the business earned $0.07 earnings per share. The company’s revenue was up 19.8% compared to the same quarter last year. On average, research analysts predict that NeoGenomics, Inc. will post -0.02 earnings per share for the current year.

In other NeoGenomics news, Director Steven C. Jones sold 10,426 shares of the stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $36.13, for a total transaction of $376,691.38. Following the transaction, the director now owns 197,932 shares in the company, valued at $7,151,283.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider George Cardoza sold 52,926 shares of the stock in a transaction that occurred on Tuesday, November 24th. The stock was sold at an average price of $45.19, for a total value of $2,391,725.94. Following the transaction, the insider now owns 423,828 shares in the company, valued at approximately $19,152,787.32. The disclosure for this sale can be found here. Insiders sold 850,828 shares of company stock worth $34,056,727 in the last 90 days. Company insiders own 6.50% of the company’s stock.

A number of hedge funds have recently modified their holdings of NEO. Valeo Financial Advisors LLC lifted its position in shares of NeoGenomics by 150.0% in the third quarter. Valeo Financial Advisors LLC now owns 1,000 shares of the medical research company’s stock valued at $37,000 after acquiring an additional 600 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of NeoGenomics in the second quarter valued at approximately $31,000. Fiduciary Planning LLC acquired a new stake in shares of NeoGenomics in the third quarter valued at approximately $41,000. FinTrust Capital Advisors LLC increased its holdings in shares of NeoGenomics by 27.0% in the third quarter. FinTrust Capital Advisors LLC now owns 1,270 shares of the medical research company’s stock valued at $47,000 after purchasing an additional 270 shares during the last quarter. Finally, Flagship Harbor Advisors LLC increased its holdings in shares of NeoGenomics by 48.0% in the third quarter. Flagship Harbor Advisors LLC now owns 1,310 shares of the medical research company’s stock valued at $48,000 after purchasing an additional 425 shares during the last quarter. Institutional investors own 86.09% of the company’s stock.

About NeoGenomics (NASDAQ:NEO)

NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States, as well as laboratories in Switzerland and Singapore. It operates in two segments, Clinical Services and Pharma Services. The company’s laboratories provide genetic and molecular testing services to hospitals, pathologists, oncologists, urologists, other clinicians and researchers, pharmaceutical firms, academic centers, and other clinical laboratories.

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