Michael Aaron Kelly Purchases 5,000 Shares of NeoGenomics, Inc. (NASDAQ:NEO) Stock

NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report) Director Michael Aaron Kelly purchased 5,000 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was acquired at an average price of $7.60 per share, for a total transaction of $38,000.00. Following the purchase, the director now owns 5,000 shares of the company's stock, valued at approximately $38,000. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

NeoGenomics Stock Performance

Shares of NASDAQ:NEO traded down $0.11 during trading on Monday, hitting $7.17. 2,248,658 shares of the company traded hands, compared to its average volume of 1,748,893. The stock has a market capitalization of $922.74 million, a price-to-earnings ratio of -11.56 and a beta of 1.60. The business's fifty day moving average is $8.54 and its 200-day moving average is $12.33. NeoGenomics, Inc. has a one year low of $6.08 and a one year high of $19.11. The company has a quick ratio of 1.91, a current ratio of 1.98 and a debt-to-equity ratio of 0.38.

NeoGenomics (NASDAQ:NEO - Get Free Report) last posted 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). The company had revenue of $168.04 million for the quarter, compared to the consensus estimate of $171.38 million. NeoGenomics had a negative net margin of 11.92% and a negative return on equity of 2.10%. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the company posted ($0.02) earnings per share. As a group, equities analysts predict that NeoGenomics, Inc. will post -0.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NEO. Morgan Stanley cut their price objective on NeoGenomics from $17.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen upgraded NeoGenomics from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Leerink Partnrs cut NeoGenomics from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Leerink Partners cut NeoGenomics from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $25.00 to $9.00 in a research note on Wednesday, April 30th. Finally, The Goldman Sachs Group cut their price objective on NeoGenomics from $15.00 to $10.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $13.83.

Institutional Trading of NeoGenomics

Several large investors have recently added to or reduced their stakes in NEO. Blue Trust Inc. increased its position in NeoGenomics by 33.2% in the 4th quarter. Blue Trust Inc. now owns 4,421 shares of the medical research company's stock valued at $73,000 after acquiring an additional 1,103 shares during the period. KBC Group NV increased its stake in NeoGenomics by 44.7% during the 4th quarter. KBC Group NV now owns 6,557 shares of the medical research company's stock valued at $108,000 after buying an additional 2,027 shares during the period. Chicago Capital LLC acquired a new position in NeoGenomics during the 4th quarter valued at about $270,000. Jennison Associates LLC raised its position in shares of NeoGenomics by 18.7% during the 4th quarter. Jennison Associates LLC now owns 1,514,756 shares of the medical research company's stock worth $24,963,000 after buying an additional 238,288 shares in the last quarter. Finally, Guidance Capital Inc. bought a new stake in shares of NeoGenomics during the 4th quarter worth about $528,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

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.