NeoGenomics (NASDAQ:NEO) Research Coverage Started at Guggenheim

Guggenheim assumed coverage on shares of NeoGenomics (NASDAQ:NEO) in a research note issued to investors on Thursday morning, Marketbeat Ratings reports. The brokerage issued a neutral rating on the medical research company’s stock.

NEO has been the subject of several other reports. Leerink Partners lowered NeoGenomics from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $25.00 to $9.00 in a research note on Wednesday, April 30th. Needham & Company LLC decreased their price objective on shares of NeoGenomics from $18.00 to $8.50 and set a “buy” rating on the stock in a research note on Tuesday, April 29th. StockNews.com upgraded shares of NeoGenomics from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Piper Sandler set a $12.00 price target on NeoGenomics and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. Finally, The Goldman Sachs Group cut their price objective on NeoGenomics from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $13.83.

NeoGenomics Stock Up 3.4%

Shares of NEO opened at $8.11 on Thursday. NeoGenomics has a 52 week low of $6.08 and a 52 week high of $19.12. The firm has a market capitalization of $1.04 billion, a P/E ratio of -13.08 and a beta of 1.60. The company has a 50-day simple moving average of $9.01 and a 200-day simple moving average of $12.90. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.91 and a current ratio of 1.98.

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). The firm had revenue of $168.04 million during the quarter, compared to the consensus estimate of $171.38 million. NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the business earned ($0.02) earnings per share. On average, equities research analysts expect that NeoGenomics will post -0.2 earnings per share for the current year.

Insider Transactions at NeoGenomics

In related news, CFO Jeffrey Scott Sherman bought 20,000 shares of the business’s stock in a transaction on Friday, May 2nd. The shares were purchased at an average price of $7.51 per share, with a total value of $150,200.00. Following the completion of the purchase, the chief financial officer now owns 158,494 shares of the company’s stock, valued at $1,190,289.94. This represents a 14.44% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Warren Stone bought 5,700 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were bought at an average price of $8.58 per share, with a total value of $48,906.00. Following the completion of the transaction, the chief operating officer now directly owns 108,280 shares in the company, valued at approximately $929,042.40. This trade represents a 5.56% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 65,600 shares of company stock worth $512,438 over the last 90 days. 2.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NEO. SBI Securities Co. Ltd. acquired a new stake in shares of NeoGenomics during the fourth quarter worth about $26,000. Brooklyn Investment Group bought a new position in NeoGenomics in the first quarter valued at approximately $35,000. CWM LLC increased 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 worth $60,000 after acquiring an additional 1,883 shares in the last quarter. AlphaQuest LLC acquired a new stake in shares of NeoGenomics during the first quarter worth $60,000. Finally, Sterling Capital Management LLC lifted its position in NeoGenomics by 788.7% in the 4th quarter. Sterling Capital Management LLC now owns 3,706 shares of the medical research company’s stock valued at $61,000 after acquiring an additional 3,289 shares in the last quarter. 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.