NeoGenomics (NASDAQ:NEO) Upgraded at StockNews.com

NeoGenomics (NASDAQ:NEO - Get Free Report) was upgraded by research analysts at StockNews.com from a "sell" rating to a "hold" rating in a research note issued to investors on Tuesday.

A number of other research analysts also recently issued reports on NEO. Piper Sandler set a $12.00 price objective on NeoGenomics and gave the company an "overweight" rating in a research note on Tuesday, May 6th. The Goldman Sachs Group dropped their price target on NeoGenomics from $15.00 to $10.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Bank of America dropped their price target on NeoGenomics from $19.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Leerink Partners downgraded NeoGenomics from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $25.00 to $9.00 in a research note on Wednesday, April 30th. Finally, Morgan Stanley dropped their price target 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. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $13.83.

NeoGenomics Trading Up 3.4%

Shares of NASDAQ NEO traded up $0.27 during trading on Tuesday, reaching $8.11. The company had a trading volume of 1,257,184 shares, compared to its average volume of 1,127,511. The company's fifty day moving average price is $9.01 and its 200-day moving average price is $12.89. NeoGenomics has a 12 month low of $6.08 and a 12 month high of $19.12. The stock has a market cap of $1.04 billion, a P/E ratio of -13.08 and a beta of 1.60. 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 announced its quarterly earnings data on Tuesday, April 29th. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.06). The business 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 revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.02) earnings per share. As a group, research analysts expect that NeoGenomics will post -0.2 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Warren Stone acquired 5,700 shares of NeoGenomics stock in a transaction dated Monday, May 12th. The shares were purchased at an average cost of $8.58 per share, with a total value of $48,906.00. Following the completion of the purchase, the chief operating officer now owns 108,280 shares of the company's stock, valued at $929,042.40. This represents a 5.56% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen M. Kanovsky bought 4,000 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was acquired at an average cost of $7.78 per share, for a total transaction of $31,120.00. Following the completion of the purchase, the director now directly owns 40,090 shares of the company's stock, valued at $311,900.20. The trade was a 11.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 65,600 shares of company stock worth $512,438. Corporate insiders own 2.40% of the company's stock.

Institutional Trading of NeoGenomics

Large investors have recently bought and sold shares of the company. Swiss National Bank raised its holdings in NeoGenomics by 1.0% in the 4th quarter. Swiss National Bank now owns 252,100 shares of the medical research company's stock worth $4,155,000 after acquiring an additional 2,600 shares during the last quarter. Jennison Associates LLC raised its position in NeoGenomics by 18.7% in the 4th quarter. Jennison Associates LLC now owns 1,514,756 shares of the medical research company's stock worth $24,963,000 after purchasing an additional 238,288 shares during the period. Rhumbline Advisers boosted its stake in shares of NeoGenomics by 2.4% during the fourth quarter. Rhumbline Advisers now owns 389,003 shares of the medical research company's stock valued at $6,411,000 after purchasing an additional 9,098 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in NeoGenomics by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,161,352 shares of the medical research company's stock valued at $19,139,000 after acquiring an additional 26,701 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. boosted its stake in NeoGenomics by 16.7% in the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 56,000 shares of the medical research company's stock valued at $923,000 after acquiring an additional 8,000 shares in the last quarter. 98.50% of the stock is owned by institutional investors.

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.