NeoGenomics, Inc. (NASDAQ:NEO) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 6,920,000 shares, an increase of 9.1% from the December 15th total of 6,340,000 shares. Currently, 7.0% of the shares of the company are sold short. Based on an average daily volume of 678,300 shares, the short-interest ratio is presently 10.2 days.
NASDAQ NEO opened at $32.24 on Wednesday. The stock’s 50-day simple moving average is $28.06 and its two-hundred day simple moving average is $24.11. NeoGenomics has a twelve month low of $14.84 and a twelve month high of $32.56. The company has a quick ratio of 4.05, a current ratio of 4.24 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 248.00 and a beta of 1.06.
NeoGenomics (NASDAQ:NEO) last released its quarterly earnings results on Tuesday, October 29th. The medical research company reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.01. NeoGenomics had a return on equity of 4.60% and a net margin of 0.55%. The business had revenue of $104.70 million for the quarter, compared to the consensus estimate of $99.38 million. During the same quarter last year, the business posted $0.05 earnings per share. The company’s revenue for the quarter was up 51.5% on a year-over-year basis. On average, equities analysts expect that NeoGenomics will post 0.19 earnings per share for the current fiscal year.
In other NeoGenomics news, CEO Oort Douglas M. Van sold 187,500 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $24.08, for a total transaction of $4,515,000.00. Following the sale, the chief executive officer now owns 2,283,481 shares in the company, valued at $54,986,222.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Kathryn B. Mckenzie sold 8,000 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $26.37, for a total value of $210,960.00. Following the sale, the chief accounting officer now owns 10,273 shares in the company, valued at approximately $270,899.01. The disclosure for this sale can be found here. Over the last three months, insiders have sold 471,874 shares of company stock valued at $11,259,917. 8.80% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of NeoGenomics by 41.6% during the second quarter. Vanguard Group Inc. now owns 8,173,714 shares of the medical research company’s stock valued at $179,331,000 after buying an additional 2,401,227 shares during the last quarter. Marshall Wace LLP grew its stake in shares of NeoGenomics by 492.5% in the second quarter. Marshall Wace LLP now owns 1,358,313 shares of the medical research company’s stock worth $29,801,000 after purchasing an additional 1,129,043 shares during the last quarter. BlackRock Inc. grew its stake in shares of NeoGenomics by 8.0% in the second quarter. BlackRock Inc. now owns 14,925,327 shares of the medical research company’s stock worth $327,462,000 after purchasing an additional 1,100,263 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in shares of NeoGenomics in the second quarter worth about $19,966,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of NeoGenomics in the second quarter worth about $5,979,000. Institutional investors and hedge funds own 83.28% of the company’s stock.
NEO has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded NeoGenomics from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. BidaskClub upgraded NeoGenomics from a “hold” rating to a “buy” rating in a research report on Friday, December 13th. William Blair reiterated an “outperform” rating on shares of NeoGenomics in a research report on Tuesday, October 29th. ValuEngine downgraded NeoGenomics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Finally, Needham & Company LLC began coverage on NeoGenomics in a research report on Friday, January 3rd. They issued a “buy” rating and a $14.00 price objective on the stock. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $22.50.
NeoGenomics, Inc, together with its subsidiaries, operates a network of cancer-focused genetic testing laboratories in the United States; and 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: Risk Tolerance
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