NeoGenomics, Inc. (NASDAQ:NEO) Receives Average Rating of "Hold" from Brokerages

Shares of NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report) have received an average recommendation of "Hold" from the eleven brokerages that are currently covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $13.83.

Several brokerages have recently issued reports on NEO. The Goldman Sachs Group decreased their price objective on NeoGenomics from $15.00 to $10.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Needham & Company LLC decreased their price target on NeoGenomics from $18.00 to $8.50 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Wall Street Zen upgraded NeoGenomics from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Morgan Stanley decreased their price target on NeoGenomics from $17.00 to $10.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Finally, Leerink Partners lowered NeoGenomics from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $25.00 to $9.00 in a report on Wednesday, April 30th.

Insider Activity at NeoGenomics

In related news, Director Michael Aaron Kelly acquired 5,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were bought at an average price of $7.60 per share, with a total value of $38,000.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at $38,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lynn A. Tetrault acquired 7,000 shares of the company's stock in a transaction that occurred on Friday, May 9th. The shares were bought at an average cost of $8.14 per share, for a total transaction of $56,980.00. Following the transaction, the director owned 7,000 shares of the company's stock, valued at $56,980. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 70,600 shares of company stock valued at $550,438 over the last 90 days. Company insiders own 2.40% of the company's stock.

Institutional Investors Weigh In On NeoGenomics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sterling Capital Management LLC raised its stake in NeoGenomics by 788.7% in the fourth quarter. Sterling Capital Management LLC now owns 3,706 shares of the medical research company's stock valued at $61,000 after buying an additional 3,289 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of NeoGenomics in the first quarter worth about $35,000. CWM LLC raised its stake in shares of NeoGenomics by 42.6% in the first 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 last quarter. AlphaQuest LLC purchased a new position in shares of NeoGenomics in the first quarter worth about $60,000. Finally, Moors & Cabot Inc. purchased a new position in shares of NeoGenomics in the first quarter worth about $95,000. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

NeoGenomics Stock Down 3.1%

NASDAQ NEO opened at $7.26 on Friday. The stock's 50 day moving average is $7.51 and its 200 day moving average is $10.34. The company has a current ratio of 2.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.38. NeoGenomics has a 12 month low of $6.08 and a 12 month high of $19.12. The stock has a market cap of $934.36 million, a PE ratio of -11.90 and a beta of 1.63.

NeoGenomics (NASDAQ:NEO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The medical research company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.06). NeoGenomics had a negative return on equity of 2.21% and a negative net margin of 11.54%. The business had revenue of $168.04 million during the quarter, compared to analysts' expectations of $171.38 million. During the same period in the prior year, the firm posted ($0.02) earnings per share. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. Research analysts predict that NeoGenomics will post -0.2 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.