Shares of NeoGenomics, Inc. (NASDAQ:NEO) reached a new 52-week high during trading on Monday . The stock traded as high as $47.75 and last traded at $46.80, with a volume of 5783 shares trading hands. The stock had previously closed at $47.36.
Several research analysts have recently issued reports on the company. BidaskClub raised NeoGenomics from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 9th. Guggenheim initiated coverage on NeoGenomics in a research report on Friday, August 28th. They issued a “buy” rating and a $46.00 price objective for the company. ValuEngine downgraded NeoGenomics from a “buy” rating to a “hold” rating in a research report on Monday, November 2nd. CIBC upgraded NeoGenomics to an “outperformer” rating and boosted their price objective for the company from $10.50 to $14.50 in a research report on Monday, October 26th. Finally, Raymond James boosted their price objective on NeoGenomics from $40.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, October 28th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. NeoGenomics currently has an average 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 business has a 50-day simple moving average of $41.98 and a 200 day simple moving average of $35.92. The firm has a market cap of $5.26 billion, a PE ratio of -1,562.48 and a beta of 0.68.
NeoGenomics (NASDAQ:NEO) last issued its quarterly 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 business had revenue of $125.40 million during the quarter, compared to analysts’ expectations of $126.23 million. During the same quarter in the prior year, the business posted $0.07 earnings per share. The business’s quarterly revenue was up 19.8% on a year-over-year basis.
In related news, insider George Cardoza sold 52,926 shares of the stock in a transaction dated Tuesday, November 24th. The stock was sold at an average price of $45.19, for a total transaction of $2,391,725.94. Following the completion of the sale, the insider now owns 423,828 shares in the company, valued at $19,152,787.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce K. Crowther sold 8,333 shares of the stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $35.01, for a total value of $291,738.33. Following the sale, the director now owns 46,483 shares of the company’s stock, valued at approximately $1,627,369.83. The disclosure for this sale can be found here. Insiders have sold 850,828 shares of company stock valued at $34,056,727 in the last quarter. 6.50% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Voloridge Investment Management LLC grew its holdings in NeoGenomics by 572.1% during the 3rd quarter. Voloridge Investment Management LLC now owns 82,891 shares of the medical research company’s stock valued at $3,058,000 after buying an additional 70,557 shares in the last quarter. California State Teachers Retirement System grew its holdings in NeoGenomics by 0.3% during the 3rd quarter. California State Teachers Retirement System now owns 156,720 shares of the medical research company’s stock valued at $5,781,000 after buying an additional 516 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in NeoGenomics during the 3rd quarter valued at approximately $519,000. Cubist Systematic Strategies LLC purchased a new position in NeoGenomics during the 3rd quarter valued at approximately $2,774,000. Finally, State of Tennessee Treasury Department grew its holdings in NeoGenomics by 9.7% during the 3rd quarter. State of Tennessee Treasury Department now owns 61,259 shares of the medical research company’s stock valued at $2,260,000 after buying an additional 5,398 shares in the last quarter. Institutional investors and hedge funds own 91.67% of the company’s stock.
NeoGenomics Company Profile (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.
Further Reading: Technical Analysis
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