NeoGenomics (NASDAQ:NEO) Stock Price Up 5.3% - Still a Buy?

NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report) shot up 5.3% during mid-day trading on Monday . The stock traded as high as $8.07 and last traded at $8.11. 1,341,054 shares traded hands during mid-day trading, an increase of 24% from the average session volume of 1,078,072 shares. The stock had previously closed at $7.70.

Analyst Ratings Changes

Several equities analysts have recently commented on NEO shares. Leerink Partnrs lowered shares of NeoGenomics from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. 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 report on Thursday, May 1st. Bank of America cut their target price on shares of NeoGenomics from $19.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Needham & Company LLC reduced their price target on shares of NeoGenomics from $18.00 to $8.50 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Finally, Benchmark downgraded shares of NeoGenomics from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, NeoGenomics has a consensus rating of "Hold" and an average target price of $13.83.

NeoGenomics Stock Performance

The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.91 and a current ratio of 1.98. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -13.10 and a beta of 1.60. The firm's 50-day moving average price is $9.24 and its two-hundred day moving average price is $13.11.

NeoGenomics (NASDAQ:NEO - Get Free Report) last released 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 firm had revenue of $168.04 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the business posted ($0.02) earnings per share. Sell-side analysts predict that NeoGenomics, Inc. will post -0.2 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Jeffrey Scott Sherman acquired 20,000 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were acquired at an average cost of $7.51 per share, for a total transaction of $150,200.00. Following the completion of the acquisition, the chief financial officer now directly owns 158,494 shares in the company, valued at approximately $1,190,289.94. The trade was a 14.44 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Anthony P. Zook bought 18,900 shares of NeoGenomics stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average price of $7.88 per share, with a total value of $148,932.00. Following the acquisition, the chief executive officer now directly owns 18,900 shares of the company's stock, valued at $148,932. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 48,900 shares of company stock valued at $375,432 over the last ninety days. Insiders own 2.40% of the company's stock.

Hedge Funds Weigh In On NeoGenomics

A number of large investors have recently made changes to their positions in NEO. SBI Securities Co. Ltd. acquired a new stake in shares of NeoGenomics during the 4th quarter worth approximately $26,000. CWM LLC boosted its stake in shares of NeoGenomics by 42.6% in the 1st quarter. CWM LLC now owns 6,299 shares of the medical research company's stock valued at $60,000 after purchasing an additional 1,883 shares during the last quarter. Sterling Capital Management LLC increased its position in shares of NeoGenomics by 788.7% during the fourth quarter. Sterling Capital Management LLC now owns 3,706 shares of the medical research company's stock worth $61,000 after buying an additional 3,289 shares during the period. Smartleaf Asset Management LLC raised its stake in NeoGenomics by 203.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,156 shares of the medical research company's stock worth $70,000 after buying an additional 2,787 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in NeoGenomics by 33.2% in the fourth quarter. Blue Trust Inc. now owns 4,421 shares of the medical research company's stock valued at $73,000 after buying an additional 1,103 shares during the period. Institutional investors own 98.50% of the company's stock.

NeoGenomics Company Profile

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.