NeoGenomics (NASDAQ:NEO) PT Set at $8.00 by Needham & Company LLC

Key Points

• Needham & Company LLC has lowered its price target for NeoGenomics (NASDAQ:NEO) from $8.50 to $8.00, indicating a potential upside of 52.38% from the current stock price.
• Shares of NeoGenomics are currently trading at $5.25, down 18.7%, with a market cap of $675.65 million and a price-to-earnings ratio of -8.61.
• Insiders, including CEO Anthony P. Zook, have recently purchased a significant number of shares, showing confidence amid analyst downgrades and a consensus rating of "Hold" from nine analysts.

NeoGenomics (NASDAQ:NEO - Get Free Report) received a $8.00 target price from research analysts at Needham & Company LLC in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm presently has a "buy" rating on the medical research company's stock. Needham & Company LLC's price objective would suggest a potential upside of 55.04% from the company's previous close.

Other equities research analysts have also issued research reports about the company. William Blair restated a "market perform" rating on shares of NeoGenomics in a research report on Tuesday. Leerink Partners lowered NeoGenomics from an "outperform" rating to a "market perform" rating and cut their target price for the company from $25.00 to $9.00 in a research report on Wednesday, April 30th. The Goldman Sachs Group cut their target price on NeoGenomics from $15.00 to $10.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Piper Sandler set a $12.00 target price on NeoGenomics and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Finally, Wall Street Zen upgraded NeoGenomics from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $12.88.

NeoGenomics Trading Up 6.6%

Shares of NEO stock opened at $5.16 on Tuesday. NeoGenomics has a 1-year low of $4.72 and a 1-year high of $19.11. The company has a current ratio of 3.92, a quick ratio of 1.95 and a debt-to-equity ratio of 0.40. The stock has a 50-day moving average of $6.99 and a 200-day moving average of $9.31. The stock has a market cap of $666.57 million, a price-to-earnings ratio of -6.37 and a beta of 1.55.

NeoGenomics (NASDAQ:NEO - Get Free Report) last announced 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). NeoGenomics had a negative net margin of 15.10% and a negative return on equity of 2.72%. The business had revenue of $168.04 million for the quarter, compared to the consensus estimate of $171.38 million. During the same quarter in the previous year, the company earned ($0.02) EPS. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities research analysts forecast that NeoGenomics will post -0.2 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Anthony P. Zook bought 18,900 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were bought at an average price of $7.88 per share, for a total transaction of $148,932.00. Following the completion of the acquisition, the chief executive officer directly owned 18,900 shares of the company's stock, valued at $148,932. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David Brian Perez purchased 10,000 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were acquired at an average cost of $7.63 per share, with a total value of $76,300.00. Following the completion of the transaction, the director directly owned 10,000 shares of the company's stock, valued at $76,300. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 50,600 shares of company stock valued at $400,238. 2.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NeoGenomics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Summit Investment Advisors Inc. grew its stake in shares of NeoGenomics by 6.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 13,339 shares of the medical research company's stock worth $220,000 after buying an additional 863 shares during the last quarter. CWM LLC raised its holdings in NeoGenomics by 42.6% in the 1st quarter. CWM LLC now owns 6,299 shares of the medical research company's stock worth $60,000 after purchasing an additional 1,883 shares during the period. NewEdge Advisors LLC raised its holdings in NeoGenomics by 15.9% in the 4th quarter. NewEdge Advisors LLC now owns 18,622 shares of the medical research company's stock worth $307,000 after purchasing an additional 2,558 shares during the period. MetLife Investment Management LLC increased its stake in NeoGenomics by 3.5% in the 4th quarter. MetLife Investment Management LLC now owns 77,403 shares of the medical research company's stock worth $1,276,000 after buying an additional 2,596 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in NeoGenomics by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,544 shares of the medical research company's stock worth $1,196,000 after buying an additional 2,724 shares in the last quarter. Institutional investors own 98.50% of the company's stock.

About NeoGenomics

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.