NeoGenomics (NASDAQ:NEO) Sets New 1-Year Low on Disappointing Earnings

NeoGenomics, Inc. (NASDAQ:NEO)’s share price reached a new 52-week low on Tuesday following a dissappointing earnings announcement. The company traded as low as $12.01 and last traded at $11.91, with a volume of 366002 shares traded. The stock had previously closed at $14.42.

The medical research company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). NeoGenomics had a negative return on equity of 2.11% and a negative net margin of 12.07%. The company had revenue of $172.00 million during the quarter, compared to analysts’ expectations of $173.40 million.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NEO shares. Jefferies Financial Group started coverage on NeoGenomics in a research report on Tuesday, December 10th. They set a “buy” rating and a $22.00 target price on the stock. Needham & Company LLC cut their target price on NeoGenomics from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday. Bank of America cut their target price on NeoGenomics from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday. Benchmark downgraded NeoGenomics from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, The Goldman Sachs Group cut their price objective on NeoGenomics from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, NeoGenomics presently has an average rating of “Moderate Buy” and a consensus price target of $19.80.

Institutional Investors Weigh In On NeoGenomics

Several hedge funds have recently made changes to their positions in NEO. Vanguard Group Inc. lifted its stake in shares of NeoGenomics by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 14,239,887 shares of the medical research company’s stock worth $234,673,000 after purchasing an additional 195,793 shares during the last quarter. State Street Corp raised its stake in NeoGenomics by 1.6% in the third quarter. State Street Corp now owns 4,958,582 shares of the medical research company’s stock valued at $73,139,000 after buying an additional 80,449 shares during the last quarter. Greenhouse Funds LLLP raised its stake in NeoGenomics by 5.3% in the fourth quarter. Greenhouse Funds LLLP now owns 4,701,897 shares of the medical research company’s stock valued at $77,487,000 after buying an additional 237,491 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in NeoGenomics by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,436,858 shares of the medical research company’s stock valued at $56,645,000 after buying an additional 78,211 shares during the last quarter. Finally, First Light Asset Management LLC raised its stake in NeoGenomics by 3.0% in the fourth quarter. First Light Asset Management LLC now owns 3,167,585 shares of the medical research company’s stock valued at $52,202,000 after buying an additional 91,030 shares during the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

NeoGenomics Stock Performance

The business has a 50 day simple moving average of $15.40 and a 200 day simple moving average of $15.51. The company has a quick ratio of 1.91, a current ratio of 1.99 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $1.63 billion, a PE ratio of -20.85 and a beta of 1.23.

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.