NeoGenomics, Inc. (NASDAQ:NEO) Receives $13.83 Average Price Target from Analysts

NeoGenomics, Inc. (NASDAQ:NEO) has been assigned an average rating of “Hold” from the eleven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $13.83.

A number of brokerages have recently issued reports on NEO. Leerink Partnrs lowered shares of NeoGenomics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 30th. Guggenheim started coverage on shares of NeoGenomics in a research report on Thursday, May 15th. They set a “neutral” rating on the stock. Morgan Stanley dropped their price target on shares of NeoGenomics from $17.00 to $10.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. The Goldman Sachs Group dropped their price target on shares of NeoGenomics from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Finally, Leerink Partners downgraded shares of NeoGenomics from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $25.00 to $9.00 in a research note on Wednesday, April 30th.

NeoGenomics Price Performance

Shares of NEO stock opened at $7.00 on Wednesday. NeoGenomics has a 1 year low of $6.08 and a 1 year high of $19.12. The firm’s 50 day moving average is $8.01 and its 200-day moving average is $11.43. The firm has a market capitalization of $900.90 million, a price-to-earnings ratio of -11.48 and a beta of 1.65. The company has a current ratio of 2.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.38.

NeoGenomics (NASDAQ:NEO) last announced its earnings results on Tuesday, April 29th. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). NeoGenomics had a negative return on equity of 2.21% and a negative net margin of 11.54%. The company had revenue of $168.04 million for the quarter, compared to analyst estimates of $171.38 million. During the same quarter in the previous year, the company posted ($0.02) earnings per share. NeoGenomics’s revenue for the quarter was up 7.6% on a year-over-year basis. Sell-side analysts forecast that NeoGenomics will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling at NeoGenomics

In other NeoGenomics news, Director Michael Aaron Kelly bought 5,000 shares of NeoGenomics stock in a transaction that occurred on Tuesday, May 27th. The stock was acquired at an average price of $7.60 per share, for a total transaction of $38,000.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company’s stock, valued at $38,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Jeffrey Scott Sherman purchased 20,000 shares of the business’s stock in a transaction on Friday, May 2nd. The stock was purchased at an average price of $7.51 per share, with a total value of $150,200.00. Following the purchase, the chief financial officer now owns 158,494 shares of the company’s stock, valued at approximately $1,190,289.94. The trade was a 14.44% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 70,600 shares of company stock valued at $550,438. Corporate insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On NeoGenomics

Large investors have recently modified their holdings of the stock. Swiss National Bank raised its position in shares of NeoGenomics by 1.0% in the fourth quarter. Swiss National Bank now owns 252,100 shares of the medical research company’s stock valued at $4,155,000 after purchasing an additional 2,600 shares during the period. Rhumbline Advisers raised its position in shares of NeoGenomics by 2.4% in the fourth quarter. Rhumbline Advisers now owns 389,003 shares of the medical research company’s stock valued at $6,411,000 after purchasing an additional 9,098 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of NeoGenomics by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,161,352 shares of the medical research company’s stock valued at $19,139,000 after purchasing an additional 26,701 shares during the period. GAMMA Investing LLC raised its position in shares of NeoGenomics by 1,107.7% in the first quarter. GAMMA Investing LLC now owns 17,765 shares of the medical research company’s stock valued at $1,872,000 after purchasing an additional 16,294 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in shares of NeoGenomics in the fourth quarter valued at about $453,000. 98.50% of the stock is owned by institutional investors.

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.