NeoGenomics, Inc. (NASDAQ:NEO) Receives Average Rating of “Hold” from Brokerages

NeoGenomics, Inc. (NASDAQ:NEO) has been assigned a consensus recommendation of “Hold” from the thirteen research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $12.00.

Several research firms have recently commented on NEO. Weiss Ratings restated a “sell (d-)” rating on shares of NeoGenomics in a research report on Monday, December 29th. TD Cowen reissued a “buy” rating on shares of NeoGenomics in a research note on Wednesday, January 7th. Zacks Research upgraded shares of NeoGenomics from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price target on shares of NeoGenomics in a report on Monday, January 12th. Finally, Leerink Partners set a $14.00 price objective on NeoGenomics in a research report on Tuesday, October 28th.

NeoGenomics Trading Down 0.7%

Shares of NASDAQ NEO opened at $12.38 on Thursday. The company has a market cap of $1.60 billion, a price-to-earnings ratio of -14.07 and a beta of 1.58. The stock’s 50 day simple moving average is $12.22 and its 200 day simple moving average is $9.55. The company has a current ratio of 3.91, a quick ratio of 3.62 and a debt-to-equity ratio of 0.41. NeoGenomics has a 12-month low of $4.72 and a 12-month high of $15.26.

NeoGenomics (NASDAQ:NEO) last issued its earnings results on Tuesday, October 28th. The medical research company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. The firm had revenue of $187.80 million for the quarter, compared to analyst estimates of $183.85 million. NeoGenomics had a negative return on equity of 3.36% and a negative net margin of 16.00%.The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period last year, the company earned $0.05 earnings per share. Equities research analysts expect that NeoGenomics will post -0.2 EPS for the current year.

Insiders Place Their Bets

In other NeoGenomics news, EVP Alicia C. Olivo sold 20,916 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $12.00, for a total transaction of $250,992.00. Following the completion of the transaction, the executive vice president owned 31,083 shares in the company, valued at approximately $372,996. The trade was a 40.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Warren Stone sold 22,128 shares of the firm’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $12.50, for a total value of $276,600.00. Following the transaction, the chief operating officer directly owned 121,631 shares in the company, valued at $1,520,387.50. This trade represents a 15.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.40% of the company’s stock.

Institutional Trading of NeoGenomics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC grew its stake in shares of NeoGenomics by 246.8% in the 2nd quarter. Squarepoint Ops LLC now owns 735,473 shares of the medical research company’s stock worth $5,376,000 after purchasing an additional 523,407 shares during the last quarter. Geode Capital Management LLC lifted its stake in NeoGenomics by 0.8% during the second quarter. Geode Capital Management LLC now owns 3,156,621 shares of the medical research company’s stock valued at $23,078,000 after purchasing an additional 26,224 shares during the last quarter. Prescott Group Capital Management L.L.C. bought a new stake in NeoGenomics during the second quarter worth approximately $292,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of NeoGenomics in the second quarter valued at $508,000. Finally, American Century Companies Inc. increased its holdings in shares of NeoGenomics by 6.0% in the second quarter. American Century Companies Inc. now owns 3,517,478 shares of the medical research company’s stock valued at $25,713,000 after buying an additional 197,876 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors.

NeoGenomics Company Profile

NeoGenomics, traded on the Nasdaq under the symbol NEO, is a leading provider of cancer-focused genetic and molecular testing services. Headquartered in Fort Myers, Florida, the company operates an integrated network of CAP-accredited and CLIA-certified laboratories across the United States, Europe and Asia. NeoGenomics delivers diagnostic insights that support oncologists, pathologists and healthcare institutions in the detection, prognosis and treatment of hematologic and solid tumor cancers.

The company’s core service offerings include flow cytometry, immunohistochemistry, fluorescence in situ hybridization (FISH), karyotyping and advanced molecular assays such as next-generation sequencing (NGS) panels and polymerase chain reaction (PCR) tests.