NeoGenomics (NEO) Downgraded by ValuEngine to “Buy”

ValuEngine downgraded shares of NeoGenomics (NASDAQ:NEO) from a strong-buy rating to a buy rating in a report released on Thursday.

Several other research analysts also recently commented on the company. Craig Hallum boosted their target price on NeoGenomics from $17.00 to $22.00 and gave the stock a buy rating in a research note on Wednesday, October 31st. BidaskClub raised NeoGenomics from a buy rating to a strong-buy rating in a research note on Saturday, October 27th. Leerink Swann started coverage on NeoGenomics in a research note on Tuesday, August 21st. They set an outperform rating and a $18.00 target price for the company. Benchmark set a $22.00 target price on NeoGenomics and gave the stock a buy rating in a research note on Thursday, November 1st. Finally, Raymond James boosted their target price on NeoGenomics from $16.00 to $21.00 and gave the stock a buy rating in a research note on Wednesday, October 31st. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. NeoGenomics presently has an average rating of Buy and an average price target of $20.33.

NEO opened at $14.19 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 4.13 and a quick ratio of 3.98. The stock has a market cap of $1.32 billion, a P/E ratio of 236.50 and a beta of -0.01. NeoGenomics has a twelve month low of $7.08 and a twelve month high of $19.04.

NeoGenomics (NASDAQ:NEO) last issued its earnings results on Tuesday, October 30th. The medical research company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.03. The firm had revenue of $69.10 million during the quarter, compared to the consensus estimate of $66.13 million. NeoGenomics had a return on equity of 2.63% and a net margin of 1.70%. The business’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.01 earnings per share. As a group, analysts anticipate that NeoGenomics will post 0.11 EPS for the current fiscal year.

In other news, VP Jennifer Balliet sold 68,333 shares of the company’s stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $16.89, for a total value of $1,154,144.37. Following the completion of the transaction, the vice president now owns 55,000 shares of the company’s stock, valued at $928,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Electric Co General sold 4,164,855 shares of the company’s stock in a transaction that occurred on Friday, November 9th. The shares were sold at an average price of $16.75, for a total value of $69,761,321.25. The disclosure for this sale can be found here. Insiders sold 4,994,643 shares of company stock valued at $83,771,998 in the last ninety days. 12.20% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in NEO. Glenmede Trust Co. NA acquired a new position in shares of NeoGenomics in the third quarter valued at approximately $114,000. Cubist Systematic Strategies LLC acquired a new stake in NeoGenomics during the 2nd quarter valued at approximately $171,000. AMP Capital Investors Ltd acquired a new stake in NeoGenomics during the 2nd quarter valued at approximately $178,000. Prudential Financial Inc. acquired a new stake in NeoGenomics during the 3rd quarter valued at approximately $224,000. Finally, PNC Financial Services Group Inc. acquired a new stake in NeoGenomics during the 2nd quarter valued at approximately $272,000. 83.61% of the stock is owned by institutional investors.

About NeoGenomics

NeoGenomics, Inc, together with its subsidiaries, operates a network of cancer-focused genetic testing laboratories in the United States. It operates through Clinical Services and Pharma Services segments. The company laboratories provide genetic and molecular testing services to hospitals, pathologists, oncologists, urologists, other clinicians and researchers, pharmaceutical firms, and other clinical laboratories.

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