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

NeoGenomics, Inc. (NASDAQ:NEO) has received a consensus recommendation of “Hold” from the twelve research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $13.8571.

NEO has been the subject of several research analyst reports. William Blair reiterated a “market perform” rating on shares of NeoGenomics in a research report on Monday, March 16th. Wall Street Zen upgraded shares of NeoGenomics from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. Weiss Ratings lowered NeoGenomics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday. Benchmark upgraded NeoGenomics from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Wednesday, April 29th. Finally, TD Cowen lifted their price objective on shares of NeoGenomics from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th.

NeoGenomics Stock Up 1.3%

NEO stock opened at $15.16 on Friday. NeoGenomics has a twelve month low of $4.72 and a twelve month high of $15.56. The company has a quick ratio of 4.06, a current ratio of 4.42 and a debt-to-equity ratio of 0.41. The stock has a market cap of $1.97 billion, a P/E ratio of -19.69 and a beta of 1.74. The business’s 50-day moving average price is $10.34 and its 200-day moving average price is $10.37.

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

Insider Activity at NeoGenomics

In related news, Director Lynn A. Tetrault sold 5,307 shares of the company’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 transaction, the director directly owned 91,422 shares in the company, valued at approximately $1,032,154.38. This represents a 5.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NEO. Aberdeen Group plc lifted its stake in shares of NeoGenomics by 127.1% during the 4th quarter. Aberdeen Group plc now owns 1,798,939 shares of the medical research company’s stock worth $21,156,000 after acquiring an additional 1,006,676 shares during the last quarter. Greenhouse Funds LLLP grew its position in NeoGenomics by 10.6% in the 3rd quarter. Greenhouse Funds LLLP now owns 8,220,657 shares of the medical research company’s stock valued at $63,463,000 after acquiring an additional 789,510 shares during the last quarter. Silverback Asset Management LLC purchased a new stake in NeoGenomics in the third quarter worth $1,554,000. First Light Asset Management LLC increased its stake in NeoGenomics by 45.0% in the third quarter. First Light Asset Management LLC now owns 9,927,269 shares of the medical research company’s stock worth $76,639,000 after purchasing an additional 3,080,837 shares during the period. Finally, GW&K Investment Management LLC lifted its position in shares of NeoGenomics by 7.5% during the fourth quarter. GW&K Investment Management LLC now owns 2,238,767 shares of the medical research company’s stock worth $26,328,000 after purchasing an additional 155,882 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

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.