NeoGenomics (NASDAQ:NEO) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of NeoGenomics (NASDAQ:NEO) from a sell rating to a hold rating in a report published on Tuesday.

A number of other brokerages have also weighed in on NEO. Benchmark lowered shares of NeoGenomics from a “buy” rating to a “hold” rating in a report on Monday, January 13th. The Goldman Sachs Group reduced their target price on shares of NeoGenomics from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Leerink Partners lowered shares of NeoGenomics from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $25.00 to $9.00 in a report on Wednesday, April 30th. Piper Sandler set a $12.00 target price on shares of NeoGenomics and gave the company an “overweight” rating in a report on Tuesday, May 6th. Finally, Morgan Stanley reduced their target price 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. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $13.83.

NeoGenomics Stock Down 1.8%

Shares of NEO opened at $8.36 on Tuesday. The firm has a market cap of $1.08 billion, a PE ratio of -13.48 and a beta of 1.60. The company’s fifty day moving average is $9.14 and its two-hundred day moving average is $13.01. NeoGenomics has a fifty-two week low of $6.08 and a fifty-two week high of $19.12. The company has a quick ratio of 1.91, a current ratio of 1.98 and a debt-to-equity ratio of 0.38.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings results on Tuesday, April 29th. The medical research company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). The company had revenue of $168.04 million during 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 firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.02) EPS. Analysts forecast that NeoGenomics will post -0.2 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Jeffrey Scott Sherman purchased 20,000 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The shares were purchased at an average price of $7.51 per share, with a total value of $150,200.00. Following the purchase, the chief financial officer now directly owns 158,494 shares of the company’s stock, valued at approximately $1,190,289.94. This represents a 14.44% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Warren Stone purchased 5,700 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were purchased at an average cost of $8.58 per share, for a total transaction of $48,906.00. Following the purchase, the chief operating officer now directly owns 108,280 shares in the company, valued at $929,042.40. This trade represents a 5.56% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 65,600 shares of company stock valued at $512,438 in the last quarter. Company insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On NeoGenomics

Hedge funds and other institutional investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. bought a new stake in shares of NeoGenomics in the 4th quarter worth about $26,000. Brooklyn Investment Group bought a new stake in shares of NeoGenomics in the 1st quarter worth about $35,000. CWM LLC increased its position in shares of NeoGenomics by 42.6% in the 1st quarter. CWM LLC now owns 6,299 shares of the medical research company’s stock worth $60,000 after purchasing an additional 1,883 shares during the last quarter. Sterling Capital Management LLC increased its position in shares of NeoGenomics by 788.7% in the 4th quarter. Sterling Capital Management LLC now owns 3,706 shares of the medical research company’s stock worth $61,000 after purchasing an additional 3,289 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of NeoGenomics by 203.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,156 shares of the medical research company’s stock worth $70,000 after purchasing an additional 2,787 shares during the last quarter. 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.