NeoGenomics (NASDAQ:NEO) Earns “Neutral” Rating from BTIG Research

NeoGenomics (NASDAQ:NEO)‘s stock had its “neutral” rating reissued by investment analysts at BTIG Research in a research report issued to clients and investors on Wednesday, MarketBeat.com reports.

A number of other research analysts have also recently issued reports on the stock. Wall Street Zen upgraded shares of NeoGenomics from a “sell” rating to a “hold” rating in a report on Tuesday, May 13th. Leerink Partnrs cut shares of NeoGenomics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 30th. Morgan Stanley reduced their price objective on shares of NeoGenomics from $17.00 to $10.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st. William Blair reiterated a “market perform” rating on shares of NeoGenomics in a report on Tuesday. Finally, Piper Sandler set a $12.00 price objective on shares of NeoGenomics and gave the company an “overweight” rating in a report on Tuesday, May 6th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.88.

NeoGenomics Trading Down 5.1%

NASDAQ:NEO opened at $4.84 on Wednesday. The company has a current ratio of 3.92, a quick ratio of 1.95 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $625.23 million, a price-to-earnings ratio of -5.98 and a beta of 1.63. The firm has a fifty day simple moving average of $7.03 and a two-hundred day simple moving average of $9.37. NeoGenomics has a 12 month low of $4.78 and a 12 month high of $19.11.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results 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). The company had revenue of $168.04 million during the quarter, compared to analyst estimates of $171.38 million. NeoGenomics had a negative return on equity of 2.72% and a negative net margin of 15.10%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.02) earnings per share. Analysts expect that NeoGenomics will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling at NeoGenomics

In other news, CEO Anthony P. Zook purchased 18,900 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average cost of $7.88 per share, for a total transaction of $148,932.00. Following the completion of the acquisition, the chief executive officer owned 18,900 shares in the company, valued at $148,932. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Aaron Kelly purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The shares were purchased 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 owned 5,000 shares of the company’s stock, valued at $38,000. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders bought 50,600 shares of company stock valued at $400,238 in the last quarter. 2.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NEO. Brooklyn Investment Group bought a new stake in NeoGenomics in the first quarter worth about $35,000. CWM LLC raised its position in NeoGenomics by 42.6% in the first quarter. CWM LLC now owns 6,299 shares of the medical research company’s stock worth $60,000 after acquiring an additional 1,883 shares during the period. AlphaQuest LLC bought a new stake in NeoGenomics in the first quarter worth about $60,000. Sterling Capital Management LLC raised its position in NeoGenomics by 788.7% in the fourth quarter. Sterling Capital Management LLC now owns 3,706 shares of the medical research company’s stock worth $61,000 after acquiring an additional 3,289 shares during the period. Finally, Moors & Cabot Inc. bought a new stake in NeoGenomics in the first quarter worth about $95,000. 98.50% of the stock is currently owned by hedge funds and other 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.