NeoGenomics, Inc. (NASDAQ: NEO) saw some unusual options trading activity on Tuesday. Stock traders bought 4,158 put options on the company. This corresponds to an increase of approx. 683% compared to the typical volume of 531 put options.
Institutional investors and hedge funds have recently changed their positions in the stock. HighMark Wealth Management LLC increased its stake in NeoGenomics shares by 8.0% in the third quarter. HighMark Wealth Management LLC now owns 2,988 shares in the medical research firm, valued at $ 144,000, after purchasing an additional 221 shares during the reporting period. Kestra Advisory Services LLC increased its stake in NeoGenomics by 4.8% in the third quarter. Kestra Advisory Services LLC now owns 5,550 shares in the medical research company valued at $ 268,000 after purchasing an additional 254 shares last quarter. US Bancorp DE increased its stake in NeoGenomics by 0.9% in the second quarter. US Bancorp DE now owns 29,985 shares in the medical research firm valued at $ 1,355,000 after buying an additional 268 shares last quarter. First Mercantile Trust Co. increased its stake in NeoGenomics by 9.7% in the second quarter. First Mercantile Trust Co. now owns 3,078 shares in the medical research firm, valued at $ 139,000, after buying an additional 273 shares last quarter. Finally, Wrapmanager Inc. increased its stake in NeoGenomics by 3.9% in the second quarter. Wrapmanager Inc. now owns 7,367 shares in the medical research company, valued at $ 333,000, after purchasing an additional 277 shares last quarter. 89.98% of the shares are owned by hedge funds and other institutional investors.
NEO has been the subject of a number of recent research reports. Raymond James upgraded NeoGenomics stock from a “market perform” rating to an “outperform” rating and in a report on Thursday, October 14th, set a price target of $ 53.00 for the company. Benchmark raised its price target on NeoGenomics shares from $ 46.00 to $ 50.00 and gave the stock a “Buy” rating in a report dated Thursday, August 26th. Morgan Stanley downgraded NeoGenomics shares from an “overweight” rating to an “equally weighted” rating in a report dated Friday, November 5th, and lowered its price target on the stock from $ 58.00 to $ 45.00. Zacks Investment Research upgraded NeoGenomics shares from a “sell” rating to a “hold” rating in a report dated Wednesday, November 17th. Finally, SVB Leerink lowered its price target on NeoGenomics shares from US $ 63.00 to US $ 60.00 and in a report on Friday, November 5th, stated an “outperform” rating for the company. Two analysts have given the share a hold rating and nine have given it a buy rating. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $ 54.89.
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NEO stock fell $ 0.70 during Tuesday’s midday trading to hit $ 37.28. The company’s share had a trading volume of 928,861 shares compared to an average volume of 864,637 shares. The company has a quick ratio of 7.42, a current ratio of 7.66, and debt of 0.47. NeoGenomics has a 52-week low of $ 35.71 and a 52-week high of $ 61.57. The company has a market cap of $ 4.59 billion, a P / E of 103.56, and a beta of 0.60. The company has a 50-day simple moving average of $ 44.25 and a 200-day simple moving average of $ 44.17.
NeoGenomics (NASDAQ: NEO) last released its quarterly earnings data on Thursday, November 4th. The medical research firm reported earnings per share (EPS) for the quarter (0.08), beating Thomson Reuters’ consensus estimate of (0.09) by $ 0.01. The company had revenue of $ 121.30 million for the quarter, compared to analyst expectations of $ 125.09 million. NeoGenomics had a net margin of 10.08% and a negative return on equity of 1.33%. The company’s revenue for the quarter decreased 3.3% year over year. During the same period last year, the company earned $ 0.04 EPS. On average, sell-side analysts expect NeoGenomics to achieve earnings per share of -0.35 for the current fiscal year.
About NeoGenomics
NeoGenomics, Inc. is a clinical laboratory company engaged in cancer genetics diagnostic testing and pharmaceutical services. It operates through the Clinical Services and Pharma Services segments. The Clinical Services segment provides cancer testing services to community pathologists, hospitals, academic centers, and oncology groups.
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