Insider Buying: NeoGenomics, Inc. (NASDAQ:NEO) COO Acquires 5,700 Shares of Stock

NeoGenomics, Inc. (NASDAQ:NEO) COO Warren Stone purchased 5,700 shares of the company’s stock in a transaction on Monday, May 12th. The stock was acquired at an average price of $8.58 per share, for a total transaction of $48,906.00. Following the completion of the transaction, the chief operating officer now owns 108,280 shares of the company’s stock, valued at $929,042.40. This represents a 5.56% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NeoGenomics Trading Down 1.8%

NASDAQ:NEO opened at $8.36 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.98 and a quick ratio of 1.91. NeoGenomics, Inc. has a fifty-two week low of $6.08 and a fifty-two week high of $19.12. The stock’s 50-day moving average is $9.14 and its two-hundred day moving average is $13.01. The stock has a market cap of $1.08 billion, a PE ratio of -13.48 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 for the quarter, missing the consensus estimate of ($0.02) by ($0.06). NeoGenomics had a negative net margin of 11.92% and a negative return on equity of 2.10%. The business had revenue of $168.04 million for the quarter, compared to analysts’ expectations of $171.38 million. During the same period last year, the firm earned ($0.02) EPS. The company’s revenue was up 7.6% compared to the same quarter last year. As a group, equities research analysts forecast that NeoGenomics, Inc. will post -0.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on NEO shares. Leerink Partnrs cut shares of NeoGenomics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 30th. Morgan Stanley dropped their price target on shares of NeoGenomics from $17.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Leerink Partners downgraded NeoGenomics from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $25.00 to $9.00 in a report on Wednesday, April 30th. StockNews.com upgraded NeoGenomics from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Bank of America cut their price objective on NeoGenomics from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $13.83.

Hedge Funds Weigh In On NeoGenomics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Brooklyn Investment Group purchased a new position in NeoGenomics during the 1st quarter valued at about $35,000. American Century Companies Inc. grew its stake in shares of NeoGenomics by 14.7% in the 1st quarter. American Century Companies Inc. now owns 3,319,602 shares of the medical research company’s stock valued at $31,503,000 after buying an additional 426,341 shares in the last quarter. Aberdeen Group plc bought a new stake in shares of NeoGenomics in the 1st quarter valued at approximately $3,920,000. Public Sector Pension Investment Board grew its stake in shares of NeoGenomics by 27.3% in the 1st quarter. Public Sector Pension Investment Board now owns 407,017 shares of the medical research company’s stock valued at $3,863,000 after buying an additional 87,238 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of NeoGenomics in the 1st quarter valued at approximately $3,281,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

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.