Lynn Tetrault Sells 5,307 Shares of NeoGenomics (NASDAQ:NEO) Stock

NeoGenomics, Inc. (NASDAQ:NEO) Director Lynn Tetrault sold 5,307 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $11.29, for a total value of $59,916.03. Following the completion of the sale, the director directly owned 91,422 shares of the company’s stock, valued at $1,032,154.38. This trade represents a 5.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

NeoGenomics Trading Up 1.7%

Shares of NASDAQ:NEO traded up $0.19 during midday trading on Thursday, reaching $11.47. 2,312,924 shares of the company’s stock were exchanged, compared to its average volume of 1,929,257. The firm’s 50 day simple moving average is $8.93 and its two-hundred day simple moving average is $10.32. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.42 and a quick ratio of 4.06. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of -14.90 and a beta of 1.82. NeoGenomics, Inc. 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, April 28th. The medical research company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $186.67 million during the quarter, compared to the consensus estimate of $184.54 million. NeoGenomics had a negative return on equity of 2.80% and a negative net margin of 13.30%.The firm’s revenue was up 11.3% compared to the same quarter last year. As a group, sell-side analysts forecast that NeoGenomics, Inc. will post -0.15 EPS for the current fiscal year.

Analysts Set New Price Targets

NEO has been the subject of a number of recent analyst reports. Weiss Ratings raised NeoGenomics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. William Blair restated a “market perform” rating on shares of NeoGenomics in a report on Monday, March 16th. Piper Sandler raised their target price on NeoGenomics from $12.00 to $13.00 and gave the company an “overweight” rating in a report on Tuesday, February 24th. Zacks Research cut NeoGenomics from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Finally, Leerink Partners upgraded NeoGenomics from a “market perform” rating to an “outperform” rating and raised their target price for the company from $12.00 to $25.00 in a report on Wednesday, April 29th. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $13.86.

Hedge Funds Weigh In On NeoGenomics

A number of hedge funds and other institutional investors have recently bought and sold shares of NEO. First Light Asset Management LLC lifted its stake in NeoGenomics by 1.1% during the fourth quarter. First Light Asset Management LLC now owns 10,035,063 shares of the medical research company’s stock worth $118,012,000 after purchasing an additional 107,794 shares during the last quarter. Greenhouse Funds LLLP lifted its stake in NeoGenomics by 10.6% during the third quarter. Greenhouse Funds LLLP now owns 8,220,657 shares of the medical research company’s stock worth $63,463,000 after purchasing an additional 789,510 shares during the last quarter. First Trust Advisors LP purchased a new stake in NeoGenomics during the first quarter worth approximately $45,725,000. Geode Capital Management LLC lifted its stake in NeoGenomics by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 3,176,644 shares of the medical research company’s stock worth $37,364,000 after purchasing an additional 44,733 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in NeoGenomics by 9.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,674,335 shares of the medical research company’s stock worth $19,842,000 after purchasing an additional 225,588 shares during the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

NeoGenomics Company Profile

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.