Guggenheim Begins Coverage on NeoGenomics (NASDAQ:NEO)

Analysts at Guggenheim began coverage on shares of NeoGenomics (NASDAQ:NEO) in a report released on Thursday, Marketbeat.com reports. The brokerage set a “neutral” rating on the medical research company’s stock.

A number of other research firms have also weighed in on NEO. Needham & Company LLC cut their target price on shares of NeoGenomics from $18.00 to $8.50 and set a “buy” rating for the company in a research report on Tuesday, April 29th. Leerink Partners cut NeoGenomics from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $25.00 to $9.00 in a research report on Wednesday, April 30th. The Goldman Sachs Group lowered their target price on NeoGenomics from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. StockNews.com raised NeoGenomics from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Leerink Partnrs cut NeoGenomics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 30th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $13.83.

NeoGenomics Price Performance

NASDAQ NEO opened at $8.11 on Thursday. NeoGenomics has a fifty-two week low of $6.08 and a fifty-two week high of $19.12. The stock’s 50-day moving average is $9.01 and its two-hundred day moving average is $12.90. The firm has a market cap of $1.04 billion, a P/E ratio of -13.08 and a beta of 1.60. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.98 and a quick ratio of 1.91.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings data on Tuesday, April 29th. The medical research company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). NeoGenomics had a negative net margin of 11.92% and a negative return on equity of 2.10%. The company had revenue of $168.04 million for the quarter, compared to analyst estimates of $171.38 million. During the same period in the prior year, the company posted ($0.02) EPS. The business’s revenue was up 7.6% on a year-over-year basis. On average, analysts anticipate that NeoGenomics will post -0.2 earnings per share for the current fiscal year.

Insider Activity at NeoGenomics

In related news, COO Warren Stone purchased 5,700 shares of the stock in a transaction on Monday, May 12th. The shares were purchased at an average cost of $8.58 per share, for a total transaction of $48,906.00. Following the completion of the transaction, the chief operating officer now directly owns 108,280 shares of the company’s stock, valued at approximately $929,042.40. The trade was a 5.56% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeffrey Scott Sherman acquired 20,000 shares of the company’s stock in a transaction on Friday, May 2nd. The shares were bought at an average price of $7.51 per share, with a total value of $150,200.00. Following the completion of the purchase, the chief financial officer now directly owns 158,494 shares of the company’s stock, valued at approximately $1,190,289.94. This represents a 14.44% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 65,600 shares of company stock worth $512,438. 2.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NeoGenomics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in NeoGenomics by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 14,239,887 shares of the medical research company’s stock valued at $234,673,000 after purchasing an additional 195,793 shares during the last quarter. First Light Asset Management LLC boosted its holdings in shares of NeoGenomics by 90.8% in the 1st quarter. First Light Asset Management LLC now owns 6,042,822 shares of the medical research company’s stock worth $57,346,000 after acquiring an additional 2,875,237 shares in the last quarter. Greenhouse Funds LLLP grew its position in NeoGenomics by 5.3% during the 4th quarter. Greenhouse Funds LLLP now owns 4,701,897 shares of the medical research company’s stock worth $77,487,000 after acquiring an additional 237,491 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in NeoGenomics by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,436,858 shares of the medical research company’s stock valued at $56,645,000 after purchasing an additional 78,211 shares in the last quarter. Finally, American Century Companies Inc. raised its position in NeoGenomics by 14.7% in the 1st quarter. American Century Companies Inc. now owns 3,319,602 shares of the medical research company’s stock valued at $31,503,000 after purchasing an additional 426,341 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

About NeoGenomics

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.