Value Hunters: Look To NeoGenomics Inc. (NEO)

FIVE Stock
FIVE Stock

The Vanguard Group, Inc. recently announced the acquisition of new stake in NeoGenomics Inc. (NASDAQ:NEO). The institutional investor has increased its shareholding in the Healthcare company by 1.80% to 10.49 million shares with purchase of 0.19 million shares. This fresh investment now brings its stake to 9.56% valued currently at $324.95 million. In addition, Artisan Partners LP raised its holdings by 0.38 million to 3.31 million shares. And SSgA Funds Management, Inc. has lifted its position by 8.54% or 0.24 million shares – to 3.01 million shares.

With over 1.08 million NeoGenomics Inc. (NEO) shares trading Tuesday and a closing price of $35.80 on the day, the dollar volume was approximately $38.64 million. The shares have shown a negative weekly performance of -2.00% and its price on 07/28/20 lost nearly -2.77%. Currently, there are 104.48M common shares owned by the public and among those 101.60M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for NEO have a consensus price objective of $35.93. The analysts have set the share’s price value over the next 12 months at a high of $40.50 and a low of $32.00 should the stock experience a downside. Incidentally, analysts’ outlook for the NeoGenomics Inc. stock is 1.50 for the next 12 months. The average price target is -2.49% below its last price level and a downside to the estimated low will see the stock lose -11.87% over that period. But an upside of 11.6% will see the stock hit the forecast high price target while mean target price for the stock is $35.00.

Insiders at the company have transacted a total of 68 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 36 of these insider trades were purchases, accounting for 955,626 shares. Insider sales of the common stock occurred on 32 occasions, with total insider shares sold totaling 963,126 shares.

The top 3 mutual fund holders in NeoGenomics Inc. are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and Artisan Small Cap Fund. iShares Core S&P Small Cap ETF owns 6.79 million shares of the company’s stock, all valued at over $210.34 million. Vanguard Total Stock Market Index bought 0.15 million shares to see its total holdings expand to 3.0 million shares valued at over $93.09 million and representing 2.74% of the shares outstanding. Artisan Small Cap Fund bought 0.95 million shares to bring its total holdings to over 2.72 million shares at a value of $84.33 million. Artisan Small Cap Fund now owns shares totaling to 2.48% of the shares outstanding.

Shares of NeoGenomics Inc. (NASDAQ: NEO) opened at $35.00, down -$1.82 from a prior closing price of $36.82. However, the script later closed the day at $35.80, down -2.77%. The company’s stock has a 5-day price change of -2.00% and 27.99% over the past three months. NEO shares are trading 22.39% year to date (YTD), with the 12-month market performance up to 47.33% higher. It has a 12-month low price of $18.52 and touched a high of $37.70 over the same period. Currently, 1.08 million shares have been traded, compared to an average intraday trading volume of 1.14 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.52%, 16.48%, and 27.06% respectively.

Institutional ownership of NeoGenomics Inc. (NASDAQ: NEO) shares accounts for 86.50% of the company’s 104.48M shares outstanding. Mutual fund holders own 33.57%, while other institutional holders and individual stakeholders account for 53.67% and 11.24% respectively.

It has a market capitalization of $4.03B and a beta (3y monthly) value of 0.79. The stock’s trailing 12-month PE ratio is 1118.75, while the earnings-per-share (ttm) stands at $0.03. The company has a PEG of 99.89 and a Quick Ratio of 2.90 with the debt-to-equity ratio at 0.20. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.41% over the week and 4.13% over the month.

Analysts forecast that NeoGenomics Inc. (NEO) will achieve an EPS of -$0.1 for the current quarter, $0.02 for the next quarter and $0.35 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.17 while analysts give the company a high EPS estimate of -$0.05. Comparatively, EPS for the current quarter was $0.07 a year ago. Earnings per share for the fiscal year are expected to increase by 16.20%, and 975.00% over the next financial year. EPS should shrink at an annualized rate of 11.20% over the next five years, compared to 30.80% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate NeoGenomics Inc. (NEO) as a “Strong Buy” at a consensus score of 1.50. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 0 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the NEO, a number of firms have released research notes about the stock. BofA/Merrill stated their Buy rating for the stock in a research note on June 25, 2020, with the firm’s price target at $34. Stephens coverage for the NeoGenomics Inc. (NEO) stock in a research note released on April 21, 2020 offered a Overweight rating with a price target of $33. Craig Hallum was of a view on March 02, 2020 that the stock is Buy, while First Analysis Sec gave the stock Strong Buy rating on February 28, 2020, issuing a price target of. First Analysis Sec on their part issued Outperform rating on January 23, 2020.


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