NeoGenomics, Inc. (NASDAQ:NEO) Receives Average Rating of “Hold” from Analysts

NeoGenomics, Inc. (NASDAQ:NEO) has been given an average rating of “Hold” by the eleven ratings firms that are presently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $13.83.

Several research firms have weighed in on NEO. Piper Sandler set a $12.00 price target on shares of NeoGenomics and gave the company an “overweight” rating in a research note on Tuesday, May 6th. Wall Street Zen raised shares of NeoGenomics from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Bank of America decreased their price target on shares of NeoGenomics from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Leerink Partners downgraded shares of NeoGenomics from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $25.00 to $9.00 in a research note on Wednesday, April 30th. Finally, The Goldman Sachs Group reduced their price objective on shares of NeoGenomics from $15.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, April 30th.

NeoGenomics Price Performance

Shares of NASDAQ:NEO opened at $7.41 on Friday. The firm has a market cap of $953.63 million, a PE ratio of -11.95 and a beta of 1.60. The firm’s fifty day moving average is $8.80 and its 200-day moving average is $12.68. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.91 and a current ratio of 1.98. NeoGenomics has a 52 week low of $6.08 and a 52 week high of $19.12.

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

Insider Buying and Selling at NeoGenomics

In other NeoGenomics news, COO Warren Stone purchased 5,700 shares of the stock in a transaction dated Monday, May 12th. The shares were bought at an average price of $8.58 per share, with a total value of $48,906.00. Following the completion of the transaction, the chief operating officer now directly owns 108,280 shares in the company, valued at approximately $929,042.40. This trade represents a 5.56% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Brian Perez bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The shares were purchased at an average cost of $7.63 per share, for a total transaction of $76,300.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at $76,300. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 65,600 shares of company stock worth $512,438 over the last three months. 2.40% of the stock is currently owned by insiders.

Institutional Trading of NeoGenomics

A number of hedge funds and other institutional investors have recently bought and sold shares of NEO. Swiss National Bank increased its holdings in shares of NeoGenomics by 1.0% in the 4th quarter. Swiss National Bank now owns 252,100 shares of the medical research company’s stock worth $4,155,000 after buying an additional 2,600 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of NeoGenomics by 18.7% in the 4th quarter. Jennison Associates LLC now owns 1,514,756 shares of the medical research company’s stock worth $24,963,000 after buying an additional 238,288 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of NeoGenomics by 2.4% in the 4th quarter. Rhumbline Advisers now owns 389,003 shares of the medical research company’s stock worth $6,411,000 after buying an additional 9,098 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of NeoGenomics by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,161,352 shares of the medical research company’s stock worth $19,139,000 after buying an additional 26,701 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of NeoGenomics in the 4th quarter worth $453,000. Institutional investors 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.