BidaskClub Lowers NeoGenomics (NASDAQ:NEO) to Hold

BidaskClub downgraded shares of NeoGenomics (NASDAQ:NEO) from a buy rating to a hold rating in a research report report published on Wednesday morning, BidAskClub reports.

Other research analysts have also issued reports about the stock. Raymond James raised their target price on shares of NeoGenomics from $23.00 to $27.00 and gave the stock an outperform rating in a research note on Wednesday, July 31st. Benchmark set a $27.00 price target on shares of NeoGenomics and gave the company a buy rating in a research report on Wednesday, July 31st. Leerink Swann set a $30.00 price target on shares of NeoGenomics and gave the company a buy rating in a research report on Wednesday, July 31st. Needham & Company LLC set a $27.00 price target on shares of NeoGenomics and gave the company a buy rating in a research report on Wednesday, July 31st. Finally, ValuEngine lowered shares of NeoGenomics from a strong-buy rating to a buy rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. NeoGenomics presently has an average rating of Buy and an average target price of $24.75.

NEO opened at $21.84 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.67 and a quick ratio of 4.52. The company’s 50 day simple moving average is $24.34 and its two-hundred day simple moving average is $22.36. NeoGenomics has a 1-year low of $11.05 and a 1-year high of $26.89. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of 120.61 and a beta of 0.97.

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, topping the Zacks’ consensus estimate of $0.05 by $0.02. NeoGenomics had a net margin of 0.57% and a return on equity of 4.97%. The business had revenue of $101.71 million for the quarter, compared to analyst estimates of $97.32 million. During the same period last year, the company posted $0.05 EPS. The business’s revenue was up 50.1% on a year-over-year basis. On average, equities analysts anticipate that NeoGenomics will post 0.19 earnings per share for the current fiscal year.

In related news, insider William Bonello sold 17,000 shares of NeoGenomics stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $24.83, for a total value of $422,110.00. Following the completion of the sale, the insider now owns 23,735 shares in the company, valued at approximately $589,340.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven C. Jones sold 181,339 shares of NeoGenomics stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $24.92, for a total transaction of $4,518,967.88. Following the completion of the sale, the director now owns 245,234 shares of the company’s stock, valued at approximately $6,111,231.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 241,370 shares of company stock worth $6,017,680. Corporate insiders own 8.80% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Mackenzie Financial Corp increased its holdings in NeoGenomics by 213.3% in the 2nd quarter. Mackenzie Financial Corp now owns 36,500 shares of the medical research company’s stock valued at $801,000 after purchasing an additional 24,850 shares during the last quarter. BlackRock Inc. increased its holdings in NeoGenomics by 8.0% in the 2nd quarter. BlackRock Inc. now owns 14,925,327 shares of the medical research company’s stock valued at $327,462,000 after purchasing an additional 1,100,263 shares during the last quarter. NewSquare Capital LLC acquired a new stake in NeoGenomics in the 2nd quarter valued at approximately $384,000. Prudential PLC acquired a new stake in NeoGenomics in the 2nd quarter valued at approximately $289,000. Finally, Royal Bank of Canada increased its holdings in NeoGenomics by 127.9% in the 2nd quarter. Royal Bank of Canada now owns 10,465 shares of the medical research company’s stock valued at $230,000 after purchasing an additional 5,874 shares during the last quarter. Hedge funds and other institutional investors own 84.84% of the company’s stock.

About NeoGenomics

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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Analyst Recommendations for NeoGenomics (NASDAQ:NEO)

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