Insider Buying: NeoGenomics, Inc. (NASDAQ:NEO) Director Purchases 10,000 Shares of Stock

NeoGenomics, Inc. (NASDAQ:NEO) Director David Brian Perez acquired 10,000 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was purchased at an average cost of $7.63 per share, with a total value of $76,300.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $76,300. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

NeoGenomics Stock Down 1.0 %

Shares of NeoGenomics stock opened at $8.05 on Friday. NeoGenomics, Inc. has a 1-year low of $6.08 and a 1-year high of $19.12. The company has a market capitalization of $1.04 billion, a P/E ratio of -12.98 and a beta of 1.60. The business’s fifty day moving average price is $9.21 and its two-hundred day moving average price is $13.08. 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 (NASDAQ:NEO) last announced 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). NeoGenomics had a negative net margin of 11.92% and a negative return on equity of 2.10%. The company had revenue of $168.04 million during the quarter, compared to the consensus estimate of $171.38 million. During the same quarter in the prior year, the company earned ($0.02) EPS. The business’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, research analysts forecast that NeoGenomics, Inc. will post -0.2 EPS for the current year.

Analysts Set New Price Targets

NEO has been the subject of a number of research analyst reports. The Goldman Sachs Group lowered their price target on NeoGenomics from $15.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. StockNews.com cut shares of NeoGenomics from a “hold” rating to a “sell” rating in a report on Monday, May 5th. Needham & Company LLC decreased their price target on shares of NeoGenomics from $18.00 to $8.50 and set a “buy” rating for the company in a report on Tuesday, April 29th. Piper Sandler set a $12.00 price objective on shares of NeoGenomics and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Bank of America decreased their target price on NeoGenomics from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, NeoGenomics presently has a consensus rating of “Hold” and an average target price of $13.83.

Hedge Funds Weigh In On NeoGenomics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P raised its stake in shares of NeoGenomics by 48.4% in the 4th quarter. Loomis Sayles & Co. L P now owns 1,791,792 shares of the medical research company’s stock worth $29,528,000 after buying an additional 584,502 shares in the last quarter. Norges Bank bought a new stake in NeoGenomics in the fourth quarter worth about $6,273,000. Jennison Associates LLC lifted its holdings in NeoGenomics by 18.7% in 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 acquiring an additional 238,288 shares during the last quarter. Greenhouse Funds LLLP lifted its holdings in NeoGenomics by 5.3% in the 4th quarter. Greenhouse Funds LLLP now owns 4,701,897 shares of the medical research company’s stock valued at $77,487,000 after acquiring an additional 237,491 shares during the last quarter. Finally, Segall Bryant & Hamill LLC boosted its position in shares of NeoGenomics by 11.2% during the 1st quarter. Segall Bryant & Hamill LLC now owns 2,350,746 shares of the medical research company’s stock valued at $22,309,000 after purchasing an additional 236,924 shares in the last quarter. 98.50% of the stock is 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.