Insider Buying: NeoGenomics, Inc. (NASDAQ:NEO) Director Purchases $76,300.00 in Stock

NeoGenomics, Inc. (NASDAQ:NEO) Director David Brian Perez acquired 10,000 shares of the business’s stock in a transaction dated Monday, May 5th. The shares were bought at an average price of $7.63 per share, for a total transaction of $76,300.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at approximately $76,300. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

NeoGenomics Stock Performance

Shares of NASDAQ:NEO opened at $8.05 on Friday. The company has a market cap of $1.04 billion, a P/E ratio of -12.98 and a beta of 1.60. NeoGenomics, Inc. has a one year low of $6.08 and a one year high of $19.12. The business’s 50-day simple moving average is $9.21 and its 200 day simple moving average is $13.08. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.91 and a current ratio of 1.98.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Tuesday, April 29th. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). The firm had revenue of $168.04 million for the quarter, compared to analysts’ expectations of $171.38 million. NeoGenomics had a negative net margin of 11.92% and a negative return on equity of 2.10%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.02) EPS. On average, sell-side analysts forecast that NeoGenomics, Inc. will post -0.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NEO has been the subject of several research analyst reports. Benchmark lowered shares of NeoGenomics from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Needham & Company LLC dropped their price objective on NeoGenomics from $18.00 to $8.50 and set a “buy” rating for the company in a report on Tuesday, April 29th. Leerink Partners lowered NeoGenomics from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $25.00 to $9.00 in a research note on Wednesday, April 30th. Morgan Stanley reduced their price objective on NeoGenomics from $17.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. Finally, The Goldman Sachs Group decreased their target price on NeoGenomics from $15.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $13.83.

Hedge Funds Weigh In On NeoGenomics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P increased its position in shares of NeoGenomics by 48.4% during the fourth quarter. Loomis Sayles & Co. L P now owns 1,791,792 shares of the medical research company’s stock worth $29,528,000 after acquiring an additional 584,502 shares during the last quarter. Norges Bank purchased a new stake in NeoGenomics during the 4th quarter worth approximately $6,273,000. Jennison Associates LLC raised its position in shares of NeoGenomics by 18.7% in the 4th quarter. Jennison Associates LLC now owns 1,514,756 shares of the medical research company’s stock valued at $24,963,000 after purchasing an additional 238,288 shares in the last quarter. Greenhouse Funds LLLP boosted its stake in shares of NeoGenomics by 5.3% during the 4th quarter. Greenhouse Funds LLLP now owns 4,701,897 shares of the medical research company’s stock valued at $77,487,000 after buying an additional 237,491 shares during the last quarter. Finally, Segall Bryant & Hamill LLC grew its position in shares of NeoGenomics by 11.2% during the first quarter. Segall Bryant & Hamill LLC now owns 2,350,746 shares of the medical research company’s stock worth $22,309,000 after buying an additional 236,924 shares in the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

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.