Shares of NeoGenomics, Inc. (NASDAQ:NEO) have earned a consensus recommendation of “Buy” from the eight research firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating and six have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $11.00.
NEO has been the subject of a number of recent research reports. Cantor Fitzgerald set a $11.00 price target on shares of NeoGenomics and gave the stock a “buy” rating in a research note on Saturday, May 27th. Zacks Investment Research downgraded shares of NeoGenomics from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. Finally, BTIG Research reissued a “buy” rating and set a $11.00 price target on shares of NeoGenomics in a research note on Sunday, May 28th.
NeoGenomics (NASDAQ NEO) traded down 0.36% on Tuesday, hitting $8.21. 332,810 shares of the company were exchanged. NeoGenomics has a one year low of $6.90 and a one year high of $9.88. The firm’s market cap is $650.54 million. The stock has a 50 day moving average price of $7.68 and a 200 day moving average price of $8.19.
NeoGenomics (NASDAQ:NEO) last announced its earnings results on Wednesday, April 26th. The medical research company reported $0.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.02. NeoGenomics had a negative net margin of 4.92% and a positive return on equity of 5.85%. The company had revenue of $61.68 million during the quarter, compared to the consensus estimate of $61.26 million. During the same period in the previous year, the firm posted $0.03 earnings per share. The company’s revenue was up 3.3% on a year-over-year basis. On average, equities research analysts forecast that NeoGenomics will post $0.18 EPS for the current fiscal year.
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In other news, insider Steven A. Ross sold 70,833 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $7.76, for a total value of $549,664.08. Following the completion of the transaction, the insider now owns 4,500 shares in the company, valued at $34,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jennifer Balliet sold 3,334 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $7.50, for a total transaction of $25,005.00. Following the completion of the transaction, the vice president now owns 10,049 shares of the company’s stock, valued at approximately $75,367.50. The disclosure for this sale can be found here. Insiders sold 124,167 shares of company stock valued at $971,169 in the last quarter. Corporate insiders own 12.20% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of NeoGenomics by 7.1% in the first quarter. Vanguard Group Inc. now owns 2,679,783 shares of the medical research company’s stock valued at $21,144,000 after buying an additional 176,691 shares during the last quarter. First Light Asset Management LLC boosted its position in shares of NeoGenomics by 26.6% in the fourth quarter. First Light Asset Management LLC now owns 2,573,891 shares of the medical research company’s stock valued at $22,058,000 after buying an additional 541,256 shares during the last quarter. Janus Capital Management LLC acquired a new position in shares of NeoGenomics during the first quarter valued at approximately $13,279,000. Russell Investments Group Ltd. acquired a new position in shares of NeoGenomics during the fourth quarter valued at approximately $13,263,000. Finally, Granite Investment Partners LLC boosted its position in shares of NeoGenomics by 5.2% in the first quarter. Granite Investment Partners LLC now owns 1,296,242 shares of the medical research company’s stock valued at $10,227,000 after buying an additional 64,244 shares during the last quarter. Institutional investors own 77.55% of the company’s stock.
NeoGenomics, Inc is an operator of a network of cancer-focused genetic testing laboratories. The Company operates in Laboratory Testing Segment. This segment delivers testing services to hospitals, pathologists, oncologists, other clinicians and researchers. It has laboratory locations in Ft. Myers and Tampa, Florida; Aliso Viejo, Fresno, Irvine, and West Sacramento, California; Houston, Texas and Nashville, and Tennessee.
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