NeoGenomics (NASDAQ:NEO) Stock Price Down 4.6%

NeoGenomics, Inc. (NASDAQ:NEO – Get Rating)’s share price fell 4.6% during mid-day trading on Tuesday . The stock traded as low as $8.50 and last traded at $8.50. 14,711 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 2,484,808 shares. The stock had previously closed at $8.91.

A number of brokerages recently weighed in on NEO. Stephens cut shares of NeoGenomics from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $34.00 to $16.00 in a report on Tuesday, March 29th. Bank of America cut shares of NeoGenomics from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $25.00 to $18.00 in a report on Tuesday, March 29th. Needham & Company LLC reduced their target price on shares of NeoGenomics from $29.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, March 29th. Cowen reduced their target price on shares of NeoGenomics from $42.00 to $24.00 and set an “outperform” rating for the company in a report on Tuesday, March 29th. Finally, BTIG Research reduced their target price on shares of NeoGenomics from $35.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, March 29th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.64.

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The company has a debt-to-equity ratio of 0.50, a current ratio of 7.93 and a quick ratio of 7.64. The company’s 50-day moving average is $12.45 and its 200 day moving average is $23.51.

NeoGenomics (NASDAQ:NEO – Get Rating) last issued its quarterly earnings results on Wednesday, April 27th. The medical research company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.04. NeoGenomics had a negative net margin of 7.33% and a negative return on equity of 6.62%. The business had revenue of $117.17 million during the quarter, compared to the consensus estimate of $116.44 million. During the same quarter in the prior year, the firm earned ($0.06) EPS. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. As a group, research analysts forecast that NeoGenomics, Inc. will post -0.98 earnings per share for the current year.

In other NeoGenomics news, CFO William Bonello sold 3,209 shares of the stock in a transaction that occurred on Monday, March 7th. The shares were sold at an average price of $18.29, for a total value of $58,692.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Arizona State Retirement System raised its holdings in shares of NeoGenomics by 1.1% during the 3rd quarter. Arizona State Retirement System now owns 30,516 shares of the medical research company’s stock valued at $1,471,000 after purchasing an additional 318 shares in the last quarter. Mariner LLC raised its holdings in shares of NeoGenomics by 0.7% during the 3rd quarter. Mariner LLC now owns 52,165 shares of the medical research company’s stock valued at $2,516,000 after purchasing an additional 351 shares in the last quarter. Profund Advisors LLC raised its holdings in shares of NeoGenomics by 3.8% during the 3rd quarter. Profund Advisors LLC now owns 13,205 shares of the medical research company’s stock valued at $637,000 after purchasing an additional 485 shares in the last quarter. Oak Family Advisors LLC raised its holdings in shares of NeoGenomics by 1.0% during the 4th quarter. Oak Family Advisors LLC now owns 58,120 shares of the medical research company’s stock valued at $1,983,000 after purchasing an additional 555 shares in the last quarter. Finally, Valmark Advisers Inc. raised its holdings in shares of NeoGenomics by 6.6% during the 4th quarter. Valmark Advisers Inc. now owns 9,202 shares of the medical research company’s stock valued at $314,000 after purchasing an additional 570 shares in the last quarter. Institutional investors own 95.03% of the company’s stock.

About NeoGenomics (NASDAQ:NEO)

NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States, Europe, and Asia. It operates through, Clinical Services and Pharma Services segments. The company offers testing services to hospitals, reference labs, pathologists, oncologists, clinicians, pharmaceutical firms, and researchers.

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