NeoGenomics (NASDAQ:NEO) Stock Price Down 7% – Should You Sell?

NeoGenomics, Inc. (NASDAQ:NEO)’s share price dropped 7% during trading on Wednesday . The stock traded as low as $10.30 and last traded at $10.12. Approximately 296,896 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 788,880 shares. The stock had previously closed at $10.88.

Analysts Set New Price Targets

NEO has been the topic of a number of recent research reports. Benchmark cut NeoGenomics from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Piper Sandler cut their price objective on shares of NeoGenomics from $21.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Needham & Company LLC decreased their target price on shares of NeoGenomics from $19.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. The Goldman Sachs Group dropped their target price on shares of NeoGenomics from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Finally, Bank of America reduced their price target on shares of NeoGenomics from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.60.

NeoGenomics Stock Down 6.9 %

The company has a current ratio of 1.98, a quick ratio of 1.91 and a debt-to-equity ratio of 0.38. The stock has a market cap of $1.22 billion, a P/E ratio of -15.35 and a beta of 1.28. The company’s 50 day moving average price is $13.26 and its two-hundred day moving average price is $14.85.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings results on Tuesday, February 18th. The medical research company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). The business had revenue of $172.00 million during the quarter, compared to the consensus estimate of $173.40 million. NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. Equities analysts forecast that NeoGenomics, Inc. will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On NeoGenomics

A number of institutional investors have recently bought and sold shares of the stock. Nordea Investment Management AB increased its position in NeoGenomics by 2.8% in the fourth quarter. Nordea Investment Management AB now owns 77,534 shares of the medical research company’s stock worth $1,301,000 after buying an additional 2,125 shares in the last quarter. Geode Capital Management LLC increased its holdings in NeoGenomics by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 3,051,806 shares of the medical research company’s stock worth $45,022,000 after acquiring an additional 36,136 shares in the last quarter. Jennison Associates LLC increased its holdings in NeoGenomics by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 1,276,468 shares of the medical research company’s stock worth $18,828,000 after acquiring an additional 57,041 shares in the last quarter. Algert Global LLC raised its stake in NeoGenomics by 204.3% during the 3rd quarter. Algert Global LLC now owns 79,983 shares of the medical research company’s stock worth $1,180,000 after acquiring an additional 53,700 shares during the period. Finally, Rhumbline Advisers lifted its holdings in NeoGenomics by 2.4% during the fourth quarter. Rhumbline Advisers now owns 389,003 shares of the medical research company’s stock valued at $6,411,000 after purchasing an additional 9,098 shares in the last quarter. 98.50% of the stock is owned by institutional investors.

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.