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

Key Points

• NeoGenomics, Inc. has received a consensus rating of "Hold" from twelve research firms, with eight analysts recommending hold and four suggesting buy.
• The average 1-year price target for NeoGenomics stock among brokers is $12.75, with notable adjustments from firms like Needham & Company and Goldman Sachs.
• Insider activity shows the COO and a director both increased their holdings in the company, with total insider acquisitions recently amounting to 17,700 shares worth $143,886.

NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report) has been given an average rating of "Hold" by the twelve ratings firms that are currently covering the company, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $12.75.

Several analysts have commented on the company. Leerink Partners lowered NeoGenomics from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $25.00 to $9.00 in a report on Wednesday, April 30th. Guggenheim started coverage on shares of NeoGenomics in a research report on Thursday, May 15th. They set a "neutral" rating for the company. The Goldman Sachs Group decreased their price objective on shares of 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 cut their target price on shares of NeoGenomics from $8.50 to $8.00 and set a "buy" rating for the company in a research note on Tuesday, July 29th. Finally, Leerink Partnrs cut NeoGenomics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th.

Insider Transactions at NeoGenomics

In other news, Director Michael Aaron Kelly purchased 5,000 shares of NeoGenomics stock in a transaction dated Tuesday, May 27th. The shares were purchased at an average price of $7.60 per share, with a total value of $38,000.00. Following the transaction, the director owned 5,000 shares in the company, valued at $38,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Warren Stone acquired 5,700 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average price of $8.58 per share, for a total transaction of $48,906.00. Following the completion of the acquisition, the chief operating officer directly owned 108,280 shares of the company's stock, valued at $929,042.40. The trade was a 5.56% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.40% of the company's stock.

Hedge Funds Weigh In On NeoGenomics

Large investors have recently modified their holdings of the business. Norges Bank purchased a new position in shares of NeoGenomics during the 4th quarter worth approximately $6,273,000. Wells Fargo & Company MN lifted its stake in NeoGenomics by 7.7% during the fourth quarter. Wells Fargo & Company MN now owns 84,391 shares of the medical research company's stock worth $1,391,000 after purchasing an additional 6,055 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of NeoGenomics by 4.4% during the fourth quarter. Federated Hermes Inc. now owns 145,541 shares of the medical research company's stock worth $2,399,000 after buying an additional 6,086 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of NeoGenomics in the 4th quarter valued at $839,000. Finally, F M Investments LLC purchased a new stake in shares of NeoGenomics in the 4th quarter valued at $2,085,000. Institutional investors and hedge funds own 98.50% of the company's stock.

NeoGenomics Price Performance

Shares of NEO stock traded up $0.04 during mid-day trading on Thursday, hitting $5.80. 1,844,077 shares of the stock were exchanged, compared to its average volume of 2,935,694. NeoGenomics has a 52-week low of $4.72 and a 52-week high of $19.11. The company has a quick ratio of 3.58, a current ratio of 3.92 and a debt-to-equity ratio of 0.40. The company has a market cap of $749.24 million, a PE ratio of -7.16 and a beta of 1.54. The firm has a fifty day moving average of $6.82 and a 200 day moving average of $8.98.

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.