NeoGenomics, Inc. (NASDAQ:NEO) Receives Consensus Rating of “Hold” from Analysts

NeoGenomics, Inc. (NASDAQ:NEO) has earned a consensus recommendation of “Hold” from the twelve analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $13.8571.

NEO has been the subject of a number of recent analyst reports. Leerink Partners upgraded NeoGenomics from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $12.00 to $25.00 in a research report on Wednesday, April 29th. TD Cowen reiterated a “buy” rating on shares of NeoGenomics in a research report on Wednesday, July 15th. Benchmark raised shares of NeoGenomics from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Wednesday, April 29th. Weiss Ratings raised shares of NeoGenomics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. Finally, Wall Street Zen upgraded shares of NeoGenomics from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th.

NeoGenomics Price Performance

NASDAQ:NEO opened at $14.01 on Thursday. The company has a quick ratio of 4.06, a current ratio of 4.42 and a debt-to-equity ratio of 0.41. NeoGenomics has a 52 week low of $4.72 and a 52 week high of $15.57. The stock’s 50-day moving average price is $11.96 and its 200-day moving average price is $10.61. The stock has a market capitalization of $1.82 billion, a PE ratio of -18.19 and a beta of 1.74.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings results on Tuesday, April 28th. The medical research company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. The company had revenue of $186.67 million during the quarter, compared to analysts’ expectations of $184.54 million. NeoGenomics had a negative return on equity of 2.80% and a negative net margin of 13.30%.The business’s revenue was up 11.3% compared to the same quarter last year. As a group, equities analysts expect that NeoGenomics will post -0.15 EPS for the current fiscal year.

Insider Activity

In other news, Director Lynn A. Tetrault sold 5,307 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $11.29, for a total transaction of $59,916.03. Following the completion of the sale, the director owned 91,422 shares of the company’s stock, valued at $1,032,154.38. The trade was a 5.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Horizon Corp boosted its holdings in NeoGenomics by 52.6% in the 4th quarter. First Horizon Corp now owns 2,509 shares of the medical research company’s stock worth $30,000 after buying an additional 865 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of NeoGenomics by 110.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,968 shares of the medical research company’s stock valued at $35,000 after acquiring an additional 1,556 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of NeoGenomics during the fourth quarter valued at approximately $39,000. Smartleaf Asset Management LLC lifted its position in shares of NeoGenomics by 77.7% in the fourth 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. Finally, GAMMA Investing LLC lifted its position in shares of NeoGenomics by 68.2% in the fourth quarter. GAMMA Investing LLC now owns 3,602 shares of the medical research company’s stock valued at $42,000 after acquiring an additional 1,460 shares in the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

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.