NeoGenomics (NASDAQ:NEO) Upgraded 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 morning.

Other research analysts have also issued reports about the stock. Needham & Company LLC reduced their target price on shares of NeoGenomics from $18.00 to $8.50 and set a “buy” rating for the company in a research note on Tuesday, April 29th. 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 research note on Wednesday, April 30th. Morgan Stanley reduced their target price on shares of NeoGenomics from $17.00 to $10.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. Leerink Partnrs lowered shares of NeoGenomics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 30th. Finally, Piper Sandler set a $12.00 price target on shares of NeoGenomics and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, NeoGenomics has an average rating of “Hold” and a consensus target price of $13.83.

NeoGenomics Trading Down 1.8%

NASDAQ NEO opened at $8.36 on Tuesday. NeoGenomics has a one year low of $6.08 and a one year high of $19.12. The company has a 50-day simple moving average of $9.14 and a 200-day simple moving average of $13.01. 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 firm has a market capitalization of $1.08 billion, a PE ratio of -13.48 and a beta of 1.60.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Tuesday, April 29th. The medical research company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The business 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 company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm posted ($0.02) earnings per share. On average, equities analysts forecast that NeoGenomics will post -0.2 earnings per share for the current year.

Insider Transactions at NeoGenomics

In other NeoGenomics news, CEO Anthony P. Zook bought 18,900 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average cost of $7.88 per share, for a total transaction of $148,932.00. Following the acquisition, the chief executive officer now directly owns 18,900 shares of the company’s stock, valued at $148,932. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Jeffrey Scott Sherman bought 20,000 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The stock was acquired at an average price of $7.51 per share, for a total transaction of $150,200.00. Following the completion of the acquisition, the chief financial officer now directly owns 158,494 shares in the company, valued at approximately $1,190,289.94. This represents a 14.44% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders purchased 65,600 shares of company stock valued at $512,438. Company insiders own 2.40% of the company’s stock.

Institutional Trading of NeoGenomics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Moody National Bank Trust Division raised its holdings in shares of NeoGenomics by 20.2% during the fourth quarter. Moody National Bank Trust Division now owns 73,226 shares of the medical research company’s stock valued at $1,207,000 after acquiring an additional 12,314 shares during the period. Mitsubishi UFJ Asset Management UK Ltd. raised its holdings in shares of NeoGenomics by 16.7% during the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 56,000 shares of the medical research company’s stock valued at $923,000 after acquiring an additional 8,000 shares during the period. Blue Trust Inc. raised its holdings in shares of NeoGenomics by 33.2% during the fourth quarter. Blue Trust Inc. now owns 4,421 shares of the medical research company’s stock valued at $73,000 after acquiring an additional 1,103 shares during the period. KBC Group NV raised its holdings in shares of NeoGenomics by 44.7% during the fourth quarter. KBC Group NV now owns 6,557 shares of the medical research company’s stock valued at $108,000 after acquiring an additional 2,027 shares during the period. Finally, Chicago Capital LLC acquired a new stake in shares of NeoGenomics during the fourth quarter valued at approximately $270,000. 98.50% of the stock is currently owned by 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.