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

Shares of NeoGenomics, Inc. (NASDAQ:NEO) have received a consensus recommendation of “Hold” from the twelve analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $13.8571.

Several equities analysts have recently issued reports on NEO shares. William Blair restated a “market perform” rating on shares of NeoGenomics in a research report on Monday, March 16th. Weiss Ratings upgraded NeoGenomics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 8th. Wall Street Zen upgraded NeoGenomics from a “hold” rating to a “buy” rating in a research report on Saturday. Benchmark upgraded NeoGenomics from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research report on Wednesday, April 29th. Finally, Leerink Partners upgraded NeoGenomics from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $12.00 to $25.00 in a research report on Wednesday, April 29th.

Insider Activity

In other news, Director Lynn A. Tetrault sold 5,307 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $11.29, for a total transaction of $59,916.03. Following the completion of the transaction, the director directly owned 91,422 shares in the company, valued at approximately $1,032,154.38. The trade was a 5.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On NeoGenomics

Several institutional investors and hedge funds have recently modified their holdings of NEO. First Trust Advisors LP acquired a new position in shares of NeoGenomics in the 1st quarter valued at approximately $45,725,000. First Light Asset Management LLC grew its position in shares of NeoGenomics by 45.0% in the 3rd quarter. First Light Asset Management LLC now owns 9,927,269 shares of the medical research company’s stock valued at $76,639,000 after purchasing an additional 3,080,837 shares during the period. Loomis Sayles & Co. L P acquired a new position in shares of NeoGenomics in the 4th quarter valued at approximately $19,182,000. American Capital Management Inc. grew its position in shares of NeoGenomics by 120.9% in the 3rd quarter. American Capital Management Inc. now owns 2,345,263 shares of the medical research company’s stock valued at $18,105,000 after purchasing an additional 1,283,390 shares during the period. Finally, Aberdeen Group plc grew its position in shares of NeoGenomics by 127.1% in the 4th quarter. Aberdeen Group plc now owns 1,798,939 shares of the medical research company’s stock valued at $21,156,000 after purchasing an additional 1,006,676 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

NeoGenomics Price Performance

NeoGenomics stock opened at $14.17 on Friday. The firm has a market capitalization of $1.85 billion, a P/E ratio of -18.40 and a beta of 1.82. NeoGenomics has a 1 year low of $4.72 and a 1 year high of $14.23. The business has a 50-day moving average of $9.81 and a 200-day moving average of $10.30. The company has a current ratio of 4.42, a quick ratio of 4.06 and a debt-to-equity ratio of 0.41.

NeoGenomics (NASDAQ:NEO) last posted its earnings results on Tuesday, April 28th. The medical research company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. The company had revenue of $186.67 million during the quarter, compared to analyst estimates of $184.54 million. NeoGenomics had a negative return on equity of 2.80% and a negative net margin of 13.30%.The firm’s revenue was up 11.3% compared to the same quarter last year. On average, equities analysts anticipate that NeoGenomics will post -0.15 EPS for the current year.

About NeoGenomics

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.