NeoGenomics Inc. (NASDAQ: NEO) stock jumped 6.80% on Monday to $11.94 against a previous-day closing price of $11.18. With 0.64 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.23 million shares. During the session, the Diagnostics & Research company that operates in wider Healthcare sector, reached to the highest price of $11.97 whereas the lowest price it dropped to was $11.13. The 52-week range on NEO shows that it touched its highest point at $23.78 and its lowest point at $6.00 during that stretch. It currently has a 1-year price target of $15.78. Beta for the stock currently stands at 1.13.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NEO was up-trending over the past week, with a rise of 8.74%, but this was up by 14.37% over a month. Three-month performance surged to 83.69% while six-month performance rose 25.95%. The stock lost -45.43% in the past year, while it has gained 29.22% so far this year. A look at the trailing 12-month EPS for NEO yields -1.32 with Next year EPS estimates of -0.53. For the next quarter, that number is -0.17. This implies an EPS growth rate of -286.40% for this year and 22.10% for next year. EPS is expected to grow by 1.30% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 29.40%.
Float and Shares Shorts:
At present, 124.42 million NEO shares are outstanding with a float of 122.24 million shares on hand for trading. On Oct 13, 2022, short shares totaled 5.39 million, which was 4.28% higher than short shares on Sep 14, 2022. In addition to Mr. George A. Cardoza as the firm’s Pres & COO of Lab Operations, Ms. Kathryn B. McKenzie serves as its Interim Chief Culture Officer, Chief Sustainability & Risk Officer.
Through their ownership of 97.59% of NEO’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 57.53% of NEO, in contrast to 31.97% held by mutual funds. Shares owned by individuals account for 11.22%. As the largest shareholder in NEO with 15.23% of the stake, BlackRock Fund Advisors holds 19,230,311 shares worth 19,230,311. A second-largest stockholder of NEO, The Vanguard Group, Inc., holds 12,982,135 shares, controlling over 10.28% of the firm’s shares. Brown Advisory LLC is the third largest shareholder in NEO, holding 6,177,104 shares or 4.89% stake. With a 7.39% stake in NEO, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 9,327,068 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.88% of NEO stock, is the second-largest Mutual Fund holder. It holds 3,640,498 shares valued at 33.64 million. Vanguard Small Cap Index Fund holds 2.45% of the stake in NEO, owning 3,091,705 shares worth 28.57 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NEO since 13 analysts follow the stock currently. There are 6 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 6 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With NEO analysts setting a high price target of $26.00 and a low target of $7.10, the average target price over the next 12 months is $14.91. Based on these targets, NEO could surge 117.76% to reach the target high and fall by -40.54% to reach the target low. Reaching the average price target will result in a growth of 24.87% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. NEO will report FY 2022 earnings on 02/21/2024. Analysts have provided yearly estimates in a range of -$0.61 being high and -$0.78 being low. For NEO, this leads to a yearly average estimate of -$0.68. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. NeoGenomics Inc. surprised analysts by $0.07 when it reported -$0.14 EPS against a consensus estimate of -$0.21. The surprise factor in the prior quarter was $0.07. Based on analyst estimates, the high estimate for the next quarter is -$0.10 and the low estimate is -$0.27. The average estimate for the next quarter is thus -$0.16.
Summary of Insider Activity:
Insiders traded NEO stock several times over the past three months with 6 Buys and 1 Sells. In these transactions, 354,681 shares were bought while 959 shares were sold. The number of buy transactions has increased to 30 while that of sell transactions has risen to 9 over the past year. The total number of shares bought during that period was 1,742,248 while 7,588 shares were sold.