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

NeoGenomics, Inc. (NASDAQ:NEO) has earned a consensus rating of “Hold” from the eleven brokerages that are currently covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $13.83.

A number of research analysts recently commented on the stock. Leerink Partnrs lowered shares of NeoGenomics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 30th. Morgan Stanley decreased their target price on NeoGenomics from $17.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Piper Sandler set a $12.00 price target on NeoGenomics and gave the stock an “overweight” rating in a report on Tuesday, May 6th. Leerink Partners lowered NeoGenomics from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $25.00 to $9.00 in a report on Wednesday, April 30th. Finally, Wall Street Zen upgraded NeoGenomics from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th.

NeoGenomics Trading Down 3.9%

NEO opened at $6.90 on Friday. The stock has a market capitalization of $888.03 million, a P/E ratio of -11.31 and a beta of 1.63. NeoGenomics has a 12 month low of $6.08 and a 12 month high of $19.12. The firm’s fifty day simple moving average is $7.48 and its 200 day simple moving average is $10.20. 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 issued its quarterly earnings results on Tuesday, April 29th. The medical research company reported ($0.08) EPS for the quarter, missing the consensus estimate 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 business had revenue of $168.04 million for the quarter, compared to the consensus estimate of $171.38 million. During the same period last year, the firm earned ($0.02) earnings per share. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, research analysts anticipate that NeoGenomics will post -0.2 EPS for the current fiscal year.

Insider Activity

In other NeoGenomics news, Director David Brian Perez bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The shares were bought at an average price of $7.63 per share, for a total transaction of $76,300.00. Following the transaction, the director directly owned 10,000 shares in the company, valued at approximately $76,300. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jeffrey Scott Sherman bought 20,000 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The shares were acquired at an average price of $7.51 per share, for a total transaction of $150,200.00. Following the transaction, the chief financial officer owned 158,494 shares in the company, valued at $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. In the last three months, insiders acquired 70,600 shares of company stock worth $550,438. 2.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake 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 worth $234,673,000 after buying an additional 195,793 shares during the period. First Light Asset Management LLC raised its stake in shares of NeoGenomics by 90.8% in the first quarter. First Light Asset Management LLC now owns 6,042,822 shares of the medical research company’s stock worth $57,346,000 after purchasing an additional 2,875,237 shares during the last quarter. Greenhouse Funds LLLP raised its stake in shares of NeoGenomics by 5.3% in the fourth quarter. Greenhouse Funds LLLP now owns 4,701,897 shares of the medical research company’s stock worth $77,487,000 after purchasing an additional 237,491 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of NeoGenomics by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,436,858 shares of the medical research company’s stock worth $56,645,000 after purchasing an additional 78,211 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of NeoGenomics by 14.7% in the first quarter. American Century Companies Inc. now owns 3,319,602 shares of the medical research company’s stock worth $31,503,000 after purchasing an additional 426,341 shares during the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

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.