NeoGenomics, Inc. (NASDAQ:NEO) Director Buys $31,120.00 in Stock

NeoGenomics, Inc. (NASDAQ:NEO) Director Stephen M. Kanovsky purchased 4,000 shares of the firm’s stock in a transaction on Wednesday, May 7th. The stock was bought at an average cost of $7.78 per share, with a total value of $31,120.00. Following the completion of the purchase, the director now owns 40,090 shares of the company’s stock, valued at approximately $311,900.20. This represents a 11.08 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

NeoGenomics Trading Down 1.0 %

Shares of NEO stock opened at $8.05 on Friday. NeoGenomics, Inc. has a 52-week low of $6.08 and a 52-week high of $19.12. The company has a 50-day simple moving average of $9.21 and a two-hundred day simple moving average of $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. The company has a market capitalization of $1.04 billion, a price-to-earnings 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 analysts’ consensus estimates of ($0.02) by ($0.06). The business had revenue of $168.04 million for the quarter, compared to the consensus estimate of $171.38 million. NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.02) earnings per share. Research analysts anticipate that NeoGenomics, Inc. will post -0.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Leerink Partners lowered NeoGenomics from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $25.00 to $9.00 in a research report on Wednesday, April 30th. StockNews.com lowered NeoGenomics from a “hold” rating to a “sell” rating in a research report on Monday, May 5th. Morgan Stanley reduced their price target on shares of NeoGenomics from $17.00 to $10.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. Bank of America lowered their price objective on shares of NeoGenomics from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Finally, Piper Sandler set a $12.00 price objective on shares of NeoGenomics and gave the company an “overweight” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, NeoGenomics presently has a consensus rating of “Hold” and an average price target of $13.83.

Institutional Trading of NeoGenomics

A number of large investors have recently added to or reduced their stakes in the stock. Nordea Investment Management AB raised its holdings in shares of NeoGenomics by 2.8% in the 4th quarter. Nordea Investment Management AB now owns 77,534 shares of the medical research company’s stock worth $1,301,000 after purchasing an additional 2,125 shares during the period. Swiss National Bank raised its stake in shares of NeoGenomics by 1.0% in the fourth quarter. Swiss National Bank now owns 252,100 shares of the medical research company’s stock valued at $4,155,000 after buying an additional 2,600 shares during the period. Jennison Associates LLC lifted its position in shares of NeoGenomics by 18.7% during 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 buying an additional 238,288 shares during the last quarter. Rhumbline Advisers grew its stake in shares of NeoGenomics by 2.4% during the 4th quarter. Rhumbline Advisers now owns 389,003 shares of the medical research company’s stock worth $6,411,000 after acquiring an additional 9,098 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in NeoGenomics by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,161,352 shares of the medical research company’s stock valued at $19,139,000 after acquiring an additional 26,701 shares during the period. Hedge funds and other institutional investors 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.