Lynn A. Tetrault Purchases 7,000 Shares of NeoGenomics, Inc. (NASDAQ:NEO) Stock

NeoGenomics, Inc. (NASDAQ:NEO) Director Lynn A. Tetrault bought 7,000 shares of the stock in a transaction on Friday, May 9th. The stock was purchased at an average cost of $8.14 per share, for a total transaction of $56,980.00. Following the acquisition, the director now directly owns 7,000 shares of the company’s stock, valued at $56,980. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

NeoGenomics Stock Down 1.0 %

Shares of NASDAQ:NEO opened at $8.05 on Friday. NeoGenomics, Inc. has a 12-month low of $6.08 and a 12-month high of $19.12. The stock’s 50-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. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -12.98 and a beta of 1.60.

NeoGenomics (NASDAQ:NEO) last released its earnings results 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 company had revenue of $168.04 million during 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%. NeoGenomics’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. On average, research analysts forecast that NeoGenomics, Inc. will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in NeoGenomics during the fourth quarter worth about $26,000. CWM LLC raised its holdings in NeoGenomics by 42.6% in the first quarter. CWM LLC now owns 6,299 shares of the medical research company’s stock valued at $60,000 after buying an additional 1,883 shares during the period. Sterling Capital Management LLC lifted its position in NeoGenomics by 788.7% during the fourth quarter. Sterling Capital Management LLC now owns 3,706 shares of the medical research company’s stock valued at $61,000 after buying an additional 3,289 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in NeoGenomics by 203.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,156 shares of the medical research company’s stock worth $70,000 after buying an additional 2,787 shares during the period. Finally, Blue Trust Inc. increased its position in shares of NeoGenomics by 33.2% in the fourth quarter. Blue Trust Inc. now owns 4,421 shares of the medical research company’s stock worth $73,000 after acquiring an additional 1,103 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Leerink Partners downgraded shares of NeoGenomics from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $25.00 to $9.00 in a report on Wednesday, April 30th. Bank of America cut their price objective on NeoGenomics from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Piper Sandler set a $12.00 target price on NeoGenomics and gave the company an “overweight” rating in a report on Tuesday. Needham & Company LLC cut their price target on NeoGenomics from $18.00 to $8.50 and set a “buy” rating for the company in a report on Tuesday, April 29th. Finally, Benchmark lowered NeoGenomics from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $13.83.

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.