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

Shares of NeoGenomics, Inc. (NASDAQ:NEO) have been given a consensus recommendation of “Hold” by the eleven research firms that are presently covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $13.83.

A number of research analysts recently weighed in on NEO shares. Guggenheim began coverage on NeoGenomics in a report on Thursday, May 15th. They set a “neutral” rating on the stock. Bank of America lowered their price target on shares of NeoGenomics from $19.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. 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 research note on Wednesday, April 30th. Leerink Partners lowered shares of NeoGenomics from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $25.00 to $9.00 in a research report on Wednesday, April 30th. Finally, Piper Sandler set a $12.00 target price on shares of NeoGenomics and gave the company an “overweight” rating in a report on Tuesday, May 6th.

NeoGenomics Price Performance

Shares of NASDAQ NEO opened at $6.99 on Wednesday. The stock has a fifty day moving average price of $8.14 and a 200 day moving average price of $11.62. NeoGenomics has a 1-year low of $6.08 and a 1-year high of $19.12. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.05 and a quick ratio of 1.95. The company has a market cap of $899.61 million, a PE ratio of -11.46 and a beta of 1.65.

NeoGenomics (NASDAQ:NEO) last released its 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 firm had revenue of $168.04 million during the quarter, compared to analyst estimates of $171.38 million. During the same quarter last year, the business posted ($0.02) EPS. The firm’s revenue was up 7.6% on a year-over-year basis. Sell-side analysts forecast that NeoGenomics will post -0.2 EPS for the current year.

Insider Activity

In other news, CFO Jeffrey Scott Sherman bought 20,000 shares of NeoGenomics stock in a transaction on Friday, May 2nd. The shares were bought at an average cost of $7.51 per share, for a total transaction of $150,200.00. Following the acquisition, the chief financial officer now owns 158,494 shares in the company, valued at approximately $1,190,289.94. This trade represents a 14.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Warren Stone purchased 5,700 shares of the firm’s stock in a transaction on Monday, May 12th. The shares were purchased at an average cost of $8.58 per share, for a total transaction of $48,906.00. Following the completion of the purchase, the chief operating officer now directly owns 108,280 shares in the company, valued at $929,042.40. The trade was a 5.56% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 70,600 shares of company stock worth $550,438 over the last ninety days. 2.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NeoGenomics

Institutional investors have recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in NeoGenomics in the 4th quarter worth approximately $26,000. Brooklyn Investment Group purchased a new stake in shares of NeoGenomics in the first quarter valued at $35,000. CWM LLC increased its stake in NeoGenomics by 42.6% in the first quarter. CWM LLC now owns 6,299 shares of the medical research company’s stock valued at $60,000 after purchasing an additional 1,883 shares during the last quarter. AlphaQuest LLC purchased a new position in NeoGenomics during the first quarter worth about $60,000. Finally, Sterling Capital Management LLC boosted its stake in NeoGenomics by 788.7% in the 4th quarter. Sterling Capital Management LLC now owns 3,706 shares of the medical research company’s stock worth $61,000 after buying an additional 3,289 shares during the last quarter. Institutional investors and hedge funds 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.