NeoGenomics, Inc. (NEO) Receives Average Rating of “Buy” from Brokerages
NeoGenomics, Inc. (NASDAQ:NEO) has received an average rating of “Buy” from the eight analysts that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating and six have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $11.00.
A number of equities research analysts recently weighed in on the company. Cantor Fitzgerald restated a “buy” rating and set a $11.00 price objective on shares of NeoGenomics in a research note on Wednesday, April 26th. Zacks Investment Research cut NeoGenomics from a “hold” rating to a “sell” rating in a research note on Tuesday, May 9th. Finally, BTIG Research restated a “buy” rating and set a $11.00 price objective on shares of NeoGenomics in a research note on Sunday, May 28th.
NeoGenomics (NASDAQ NEO) traded down 1.21% during trading on Tuesday, hitting $8.17. The stock had a trading volume of 285,144 shares. The stock’s market capitalization is $647.37 million. The stock’s 50-day moving average is $7.68 and its 200-day moving average is $8.19. NeoGenomics has a 52-week low of $6.90 and a 52-week high of $9.88.
NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings data on Wednesday, April 26th. The medical research company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $61.68 million during the quarter, compared to analysts’ expectations of $61.26 million. NeoGenomics had a positive return on equity of 5.85% and a negative net margin of 4.92%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.03 EPS. On average, analysts predict that NeoGenomics will post $0.18 earnings per share for the current fiscal year.
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In other NeoGenomics news, insider Steven G. Brodie sold 50,000 shares of the stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $7.93, for a total value of $396,500.00. Following the completion of the sale, the insider now directly owns 49,403 shares in the company, valued at $391,765.79. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Steven A. Ross sold 70,833 shares of the stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $7.76, for a total value of $549,664.08. Following the completion of the sale, the insider now owns 4,500 shares of the company’s stock, valued at $34,920. The disclosure for this sale can be found here. Over the last quarter, insiders sold 124,167 shares of company stock valued at $971,169. 12.20% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of NeoGenomics by 7.1% in the first quarter. Vanguard Group Inc. now owns 2,679,783 shares of the medical research company’s stock valued at $21,144,000 after buying an additional 176,691 shares during the last quarter. First Light Asset Management LLC boosted its position in shares of NeoGenomics by 26.6% in the fourth quarter. First Light Asset Management LLC now owns 2,573,891 shares of the medical research company’s stock valued at $22,058,000 after buying an additional 541,256 shares during the last quarter. Janus Capital Management LLC purchased a new position in shares of NeoGenomics during the first quarter valued at about $13,279,000. Russell Investments Group Ltd. purchased a new position in shares of NeoGenomics during the fourth quarter valued at about $13,263,000. Finally, Granite Investment Partners LLC boosted its position in shares of NeoGenomics by 5.2% in the first quarter. Granite Investment Partners LLC now owns 1,296,242 shares of the medical research company’s stock valued at $10,227,000 after buying an additional 64,244 shares during the last quarter. Institutional investors own 77.55% of the company’s stock.
NeoGenomics Company Profile
NeoGenomics, Inc is an operator of a network of cancer-focused genetic testing laboratories. The Company operates in Laboratory Testing Segment. This segment delivers testing services to hospitals, pathologists, oncologists, other clinicians and researchers. It has laboratory locations in Ft. Myers and Tampa, Florida; Aliso Viejo, Fresno, Irvine, and West Sacramento, California; Houston, Texas and Nashville, and Tennessee.
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