Stephen M. Kanovsky Acquires 4,000 Shares of NeoGenomics, Inc. (NASDAQ:NEO) Stock

NeoGenomics, Inc. (NASDAQ:NEO) Director Stephen M. Kanovsky acquired 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The stock was purchased 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

NeoGenomics Price Performance

NEO stock opened at $8.05 on Friday. The company has a market capitalization of $1.04 billion, a P/E ratio of -12.98 and a beta of 1.60. The company has a fifty day moving average price of $9.21 and a 200-day moving average price of $13.08. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.91 and a current ratio of 1.98. NeoGenomics, Inc. has a 52-week low of $6.08 and a 52-week high of $19.12.

NeoGenomics (NASDAQ:NEO) last announced 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 company had revenue of $168.04 million for the quarter, compared to analyst estimates of $171.38 million. NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.02) earnings per share. As a group, equities analysts expect that NeoGenomics, Inc. will post -0.2 EPS for the current year.

Institutional Trading of NeoGenomics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEO. SBI Securities Co. Ltd. bought a new stake in shares of NeoGenomics in the 4th quarter valued at $26,000. CWM LLC grew its holdings in NeoGenomics by 42.6% during the 1st 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 period. Sterling Capital Management LLC raised its position in shares of NeoGenomics by 788.7% in the 4th quarter. Sterling Capital Management LLC now owns 3,706 shares of the medical research company’s stock worth $61,000 after acquiring an additional 3,289 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of NeoGenomics by 203.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,156 shares of the medical research company’s stock valued at $70,000 after purchasing an additional 2,787 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of NeoGenomics by 33.2% during the 4th quarter. Blue Trust Inc. now owns 4,421 shares of the medical research company’s stock valued at $73,000 after purchasing an additional 1,103 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NEO. Bank of America decreased 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. Benchmark cut NeoGenomics from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Leerink Partners cut shares of NeoGenomics from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $25.00 to $9.00 in a report on Wednesday, April 30th. Leerink Partnrs lowered shares of NeoGenomics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 30th. Finally, Piper Sandler set a $12.00 price objective on shares of NeoGenomics and gave the company an “overweight” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $13.83.

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.