Insider Buying: NeoGenomics, Inc. (NASDAQ:NEO) Director Acquires 7,000 Shares of Stock

NeoGenomics, Inc. (NASDAQ:NEO) Director Lynn A. Tetrault purchased 7,000 shares of NeoGenomics stock in a transaction dated Friday, May 9th. The shares were purchased at an average cost of $8.14 per share, for a total transaction of $56,980.00. Following the completion of the transaction, the director now owns 7,000 shares of the company’s stock, valued at approximately $56,980. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

NeoGenomics Stock Down 1.0 %

Shares of NEO stock opened at $8.05 on Friday. The firm’s fifty day moving average price is $9.21 and its two-hundred day moving average price is $13.08. The company has a current ratio of 1.98, a quick ratio of 1.91 and a debt-to-equity ratio of 0.38. NeoGenomics, Inc. has a 1 year low of $6.08 and a 1 year high of $19.12. The firm has a market capitalization of $1.04 billion, a P/E ratio of -12.98 and a beta of 1.60.

NeoGenomics (NASDAQ:NEO) last issued its quarterly 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). The company had revenue of $168.04 million for the quarter, compared to analyst estimates of $171.38 million. NeoGenomics had a negative net margin of 11.92% and a negative return on equity of 2.10%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period last year, the company posted ($0.02) earnings per share. On average, equities analysts predict that NeoGenomics, Inc. will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On NeoGenomics

Institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its position in shares of NeoGenomics by 2.0% in the 3rd quarter. Franklin Resources Inc. now owns 2,043,840 shares of the medical research company’s stock valued at $28,225,000 after acquiring an additional 39,740 shares during the period. Nordea Investment Management AB lifted its stake in NeoGenomics by 2.8% in the 4th quarter. Nordea Investment Management AB now owns 77,534 shares of the medical research company’s stock valued at $1,301,000 after purchasing an additional 2,125 shares during the last quarter. Moody National Bank Trust Division grew its holdings in NeoGenomics by 20.2% during the fourth quarter. Moody National Bank Trust Division now owns 73,226 shares of the medical research company’s stock worth $1,207,000 after purchasing an additional 12,314 shares during the period. Mitsubishi UFJ Asset Management UK Ltd. increased its position in NeoGenomics by 16.7% during the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 56,000 shares of the medical research company’s stock worth $923,000 after buying an additional 8,000 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in NeoGenomics by 33.2% in the fourth quarter. Blue Trust Inc. now owns 4,421 shares of the medical research company’s stock valued at $73,000 after buying an additional 1,103 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on NEO. The Goldman Sachs Group reduced their target price on NeoGenomics from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Leerink Partnrs cut NeoGenomics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 30th. Benchmark lowered shares of NeoGenomics from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Piper Sandler set a $12.00 price objective on shares of NeoGenomics and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Morgan Stanley dropped their price objective on shares of NeoGenomics from $17.00 to $10.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, NeoGenomics has a consensus rating of “Hold” and a consensus target price of $13.83.

NeoGenomics Company Profile

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.