StockNews.com Upgrades NeoGenomics (NASDAQ:NEO) to “Hold”

NeoGenomics (NASDAQ:NEO) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Tuesday.

Several other research analysts also recently commented on NEO. Needham & Company LLC cut their target price on NeoGenomics from $18.00 to $8.50 and set a “buy” rating for the company in a research note on Tuesday, April 29th. Bank of America lowered their price target on NeoGenomics from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Leerink Partners cut NeoGenomics from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $25.00 to $9.00 in a report on Wednesday, April 30th. Morgan Stanley lowered their price target on NeoGenomics from $17.00 to $10.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. Finally, Benchmark cut NeoGenomics from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, NeoGenomics currently has a consensus rating of “Hold” and a consensus price target of $13.83.

NeoGenomics Stock Down 4.8%

NEO stock opened at $7.96 on Tuesday. 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 company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -12.84 and a beta of 1.60. NeoGenomics has a fifty-two week low of $6.08 and a fifty-two week high of $19.12. The stock has a fifty day moving average of $9.09 and a 200-day moving average of $12.98.

NeoGenomics (NASDAQ:NEO) last issued its 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). NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. 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 business earned ($0.02) EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities research analysts predict that NeoGenomics will post -0.2 earnings per share for the current year.

Insider Activity at NeoGenomics

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

Hedge Funds Weigh In On NeoGenomics

Institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. grew its position in shares of NeoGenomics by 5.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 15,610 shares of the medical research company’s stock worth $257,000 after buying an additional 770 shares during the last quarter. Summit Investment Advisors Inc. grew its position in shares of NeoGenomics by 6.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 13,339 shares of the medical research company’s stock worth $220,000 after buying an additional 863 shares during the last quarter. Blue Trust Inc. grew its position in shares of NeoGenomics by 33.2% in the 4th quarter. Blue Trust Inc. now owns 4,421 shares of the medical research company’s stock worth $73,000 after buying an additional 1,103 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of NeoGenomics during the fourth quarter valued at approximately $26,000. Finally, CWM LLC boosted its position in shares of NeoGenomics by 42.6% during the first quarter. CWM LLC now owns 6,299 shares of the medical research company’s stock valued at $60,000 after purchasing an additional 1,883 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors.

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.