NeoGenomics (NASDAQ:NEO) Stock Rating Upgraded by StockNews.com

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

Other equities analysts have also recently issued reports about the stock. Piper Sandler set a $12.00 target price on shares of NeoGenomics and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Needham & Company LLC lowered their target price on shares of NeoGenomics from $18.00 to $8.50 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Benchmark cut NeoGenomics from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. Leerink Partnrs lowered NeoGenomics from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Finally, Bank of America lowered their price target on NeoGenomics from $19.00 to $16.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $13.83.

NeoGenomics Stock Performance

NASDAQ:NEO traded up $0.27 during mid-day trading on Tuesday, hitting $8.11. The company's stock had a trading volume of 1,257,184 shares, compared to its average volume of 1,123,625. The business's fifty day moving average is $9.07 and its two-hundred day moving average is $12.94. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -13.08 and a beta of 1.60. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.98 and a quick ratio of 1.91. NeoGenomics has a 1 year low of $6.08 and a 1 year high of $19.12.

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). NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. The company had revenue of $168.04 million for the quarter, compared to analyst estimates of $171.38 million. During the same period last year, the business earned ($0.02) earnings per share. The firm's revenue was up 7.6% on a year-over-year basis. Analysts anticipate that NeoGenomics will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director David Brian Perez purchased 10,000 shares of the company's stock in a transaction dated Monday, May 5th. The stock was acquired at an average cost of $7.63 per share, for a total transaction of $76,300.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company's stock, valued at approximately $76,300. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jeffrey Scott Sherman bought 20,000 shares of the company's stock in a transaction on Friday, May 2nd. The stock was bought at an average price of $7.51 per share, with a total value of $150,200.00. Following the completion of the acquisition, the chief financial officer now owns 158,494 shares in the company, valued at $1,190,289.94. This represents a 14.44% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 65,600 shares of company stock worth $512,438. Insiders own 2.40% of the company's stock.

Institutional Investors Weigh In On NeoGenomics

Several hedge funds and other institutional investors have recently bought and sold shares of NEO. PNC Financial Services Group Inc. grew its stake in shares of NeoGenomics by 5.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 15,610 shares of the medical research company's stock valued at $257,000 after buying an additional 770 shares during the period. Summit Investment Advisors Inc. lifted its holdings in NeoGenomics by 6.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 13,339 shares of the medical research company's stock valued at $220,000 after acquiring an additional 863 shares during the last quarter. Blue Trust Inc. grew its position in NeoGenomics by 33.2% in the fourth quarter. Blue Trust Inc. now owns 4,421 shares of the medical research company's stock worth $73,000 after acquiring an additional 1,103 shares during the period. SBI Securities Co. Ltd. acquired a new stake in NeoGenomics during the fourth quarter worth $26,000. Finally, CWM LLC increased its stake in NeoGenomics by 42.6% during the first quarter. CWM LLC now owns 6,299 shares of the medical research company's stock worth $60,000 after acquiring an additional 1,883 shares during the last quarter. 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.