NeoGenomics (NASDAQ:NEO) Sets New 52-Week Low After Earnings Miss

Shares of NeoGenomics, Inc. (NASDAQ:NEO) reached a new 52-week low on Tuesday following a weaker than expected earnings announcement. The company traded as low as $12.01 and last traded at $11.91, with a volume of 366002 shares changing hands. The stock had previously closed at $14.42.

The medical research company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NEO. The Goldman Sachs Group decreased their price objective on NeoGenomics from $20.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Bank of America increased their price target on NeoGenomics from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Benchmark cut shares of NeoGenomics from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Needham & Company LLC reissued a “buy” rating and issued a $19.00 price objective on shares of NeoGenomics in a research report on Friday, January 10th. Finally, Jefferies Financial Group initiated coverage on shares of NeoGenomics in a report on Tuesday, December 10th. They issued a “buy” rating and a $22.00 price target on the stock. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.20.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of NeoGenomics by 7.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 646,111 shares of the medical research company’s stock valued at $10,648,000 after purchasing an additional 42,895 shares during the last quarter. Sovereign s Capital Management LLC acquired a new stake in NeoGenomics in the fourth quarter valued at approximately $490,000. Squarepoint Ops LLC bought a new stake in shares of NeoGenomics during the fourth quarter worth $276,000. Sherbrooke Park Advisers LLC acquired a new position in shares of NeoGenomics during the fourth quarter worth $183,000. Finally, ProShare Advisors LLC boosted its holdings in shares of NeoGenomics by 44.5% during the 4th quarter. ProShare Advisors LLC now owns 38,445 shares of the medical research company’s stock valued at $634,000 after acquiring an additional 11,831 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

NeoGenomics Price Performance

The company has a current ratio of 1.99, a quick ratio of 1.91 and a debt-to-equity ratio of 0.37. The firm has a market cap of $1.53 billion, a P/E ratio of -19.50 and a beta of 1.23. The business has a 50-day moving average of $15.70 and a two-hundred day moving average of $15.59.

About NeoGenomics

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.