NeoGenomics, Inc. (NASDAQ:NEO) – Stock analysts at First Analysis issued their Q2 2020 earnings per share (EPS) estimates for NeoGenomics in a research note issued to investors on Wednesday, July 31st. First Analysis analyst R. Department anticipates that the medical research company will post earnings of $0.09 per share for the quarter.
A number of other research analysts have also recently issued reports on the company. Zacks Investment Research cut NeoGenomics from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Needham & Company LLC reiterated a “buy” rating and issued a $24.00 target price (up from $22.00) on shares of NeoGenomics in a report on Wednesday, May 1st. Raymond James upped their target price on NeoGenomics from $23.00 to $27.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, BidaskClub upgraded NeoGenomics from a “hold” rating to a “buy” rating in a report on Friday, July 19th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $21.56.
NeoGenomics (NASDAQ:NEO) last released its earnings results on Tuesday, July 30th. The medical research company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.02. NeoGenomics had a negative net margin of 0.14% and a positive return on equity of 3.07%. The business had revenue of $101.71 million during the quarter, compared to analysts’ expectations of $97.32 million. During the same period last year, the business earned $0.05 earnings per share. The firm’s revenue was up 50.1% on a year-over-year basis.
A number of institutional investors and hedge funds have recently modified their holdings of NEO. BlackRock Inc. raised its position in NeoGenomics by 150.5% in the 1st quarter. BlackRock Inc. now owns 13,825,064 shares of the medical research company’s stock valued at $282,861,000 after buying an additional 8,305,417 shares during the last quarter. Millennium Management LLC raised its position in NeoGenomics by 6,511.7% in the 4th quarter. Millennium Management LLC now owns 770,201 shares of the medical research company’s stock valued at $9,712,000 after buying an additional 758,552 shares during the last quarter. Eagle Asset Management Inc. raised its position in NeoGenomics by 19.0% in the 1st quarter. Eagle Asset Management Inc. now owns 2,705,536 shares of the medical research company’s stock valued at $55,355,000 after buying an additional 431,393 shares during the last quarter. American Century Companies Inc. raised its position in NeoGenomics by 123.5% in the 4th quarter. American Century Companies Inc. now owns 687,775 shares of the medical research company’s stock valued at $8,673,000 after buying an additional 380,041 shares during the last quarter. Finally, Granite Investment Partners LLC raised its position in NeoGenomics by 14.4% in the 1st quarter. Granite Investment Partners LLC now owns 1,764,090 shares of the medical research company’s stock valued at $36,093,000 after buying an additional 221,850 shares during the last quarter. 84.07% of the stock is currently owned by hedge funds and other institutional investors.
In other NeoGenomics news, insider George Cardoza sold 151,676 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $22.82, for a total value of $3,461,246.32. Following the transaction, the insider now directly owns 452,507 shares of the company’s stock, valued at $10,326,209.74. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Jennifer Balliet sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $22.74, for a total value of $682,200.00. Following the completion of the transaction, the vice president now directly owns 39,529 shares in the company, valued at $898,889.46. The disclosure for this sale can be found here. Over the last three months, insiders sold 338,876 shares of company stock worth $7,674,362. Insiders own 8.80% of the company’s stock.
NeoGenomics Company Profile
NeoGenomics, Inc, together with its subsidiaries, operates a network of cancer-focused genetic testing laboratories in the United States; and laboratories in Switzerland and Singapore. It operates in two segments, Clinical Services and Pharma Services. The company's laboratories provide genetic and molecular testing services to hospitals, pathologists, oncologists, urologists, other clinicians and researchers, pharmaceutical firms, academic centers, and other clinical laboratories.
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