NeoGenomics, Inc. (NASDAQ:NEO) Given Consensus Recommendation of “Hold” by Brokerages

NeoGenomics, Inc. (NASDAQ:NEO) has been given an average rating of “Hold” by the fourteen research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $11.8571.

A number of equities analysts have recently weighed in on NEO shares. TD Cowen reissued a “buy” rating on shares of NeoGenomics in a research report on Monday. Needham & Company LLC boosted their price target on shares of NeoGenomics from $14.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. William Blair restated a “market perform” rating on shares of NeoGenomics in a research report on Monday. Zacks Research downgraded NeoGenomics from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Finally, Piper Sandler lifted their target price on NeoGenomics from $12.00 to $13.00 and gave the stock an “overweight” rating in a report on Tuesday, February 24th.

Insider Activity at NeoGenomics

In other news, COO Warren Stone sold 22,128 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $12.50, for a total value of $276,600.00. Following the completion of the transaction, the chief operating officer owned 121,631 shares in the company, valued at $1,520,387.50. This represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NeoGenomics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. First Horizon Corp increased its stake in NeoGenomics by 52.6% in the 4th quarter. First Horizon Corp now owns 2,509 shares of the medical research company’s stock valued at $30,000 after buying an additional 865 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of NeoGenomics by 110.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,968 shares of the medical research company’s stock worth $35,000 after buying an additional 1,556 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of NeoGenomics during the 4th quarter worth about $39,000. Aster Capital Management DIFC Ltd grew its holdings in shares of NeoGenomics by 42.5% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 3,341 shares of the medical research company’s stock valued at $26,000 after acquiring an additional 997 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of NeoGenomics by 77.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,466 shares of the medical research company’s stock valued at $42,000 after acquiring an additional 1,515 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

NeoGenomics Stock Performance

Shares of NASDAQ:NEO opened at $8.18 on Friday. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -9.74 and a beta of 1.62. The firm’s 50 day simple moving average is $10.85 and its 200 day simple moving average is $10.48. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.26 and a quick ratio of 3.94. NeoGenomics has a fifty-two week low of $4.72 and a fifty-two week high of $13.74.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings data on Tuesday, February 17th. The medical research company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. NeoGenomics had a negative net margin of 14.85% and a negative return on equity of 3.10%. The firm had revenue of $190.17 million during the quarter, compared to analysts’ expectations of $188.25 million. During the same quarter in the previous year, the company earned $0.04 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, sell-side analysts forecast that NeoGenomics will post -0.2 earnings per share for the current year.

About NeoGenomics

NeoGenomics, traded on the Nasdaq under the symbol NEO, is a leading provider of cancer-focused genetic and molecular testing services. Headquartered in Fort Myers, Florida, the company operates an integrated network of CAP-accredited and CLIA-certified laboratories across the United States, Europe and Asia. NeoGenomics delivers diagnostic insights that support oncologists, pathologists and healthcare institutions in the detection, prognosis and treatment of hematologic and solid tumor cancers.

The company’s core service offerings include flow cytometry, immunohistochemistry, fluorescence in situ hybridization (FISH), karyotyping and advanced molecular assays such as next-generation sequencing (NGS) panels and polymerase chain reaction (PCR) tests.