ValuEngine Upgrades NeoGenomics, Inc. (NASDAQ:NEO) to “Hold”
NeoGenomics, Inc. (NASDAQ:NEO) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Monday.
A number of other analysts have also recently weighed in on the company. Zacks Investment Research raised NeoGenomics from a “sell” rating to a “hold” rating in a research report on Saturday, July 29th. BidaskClub cut NeoGenomics from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. BTIG Research reaffirmed a “buy” rating and issued a $11.00 price target on shares of NeoGenomics in a research report on Sunday, May 28th. Finally, Cantor Fitzgerald set a $11.00 price target on NeoGenomics and gave the stock a “buy” rating in a research report on Saturday, May 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. NeoGenomics presently has an average rating of “Buy” and an average price target of $10.40.
Shares of NeoGenomics (NEO) opened at 9.31 on Monday. The stock has a 50 day moving average price of $8.99 and a 200-day moving average price of $8.19. The firm’s market cap is $737.70 million. NeoGenomics has a 1-year low of $6.90 and a 1-year high of $9.93.
NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings results on Tuesday, July 25th. The medical research company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. NeoGenomics had a positive return on equity of 6.02% and a negative net margin of 2.81%. The company had revenue of $66.09 million during the quarter, compared to analysts’ expectations of $62.95 million. During the same quarter in the previous year, the firm earned $0.04 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts expect that NeoGenomics will post $0.18 earnings per share for the current fiscal year.
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In other NeoGenomics news, Director Alison L. Hannah acquired 20,000 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were acquired at an average cost of $9.19 per share, for a total transaction of $183,800.00. Following the completion of the purchase, the director now owns 38,782 shares of the company’s stock, valued at approximately $356,406.58. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jennifer Balliet sold 3,334 shares of NeoGenomics stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $7.50, for a total value of $25,005.00. Following the completion of the transaction, the vice president now owns 10,049 shares in the company, valued at $75,367.50. The disclosure for this sale can be found here. Insiders sold 84,890 shares of company stock worth $665,707 over the last quarter. 12.20% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. Cowen Prime Services LLC raised its position in shares of NeoGenomics by 10.1% in the second quarter. Cowen Prime Services LLC now owns 1,308,726 shares of the medical research company’s stock valued at $11,726,000 after buying an additional 120,250 shares in the last quarter. Royce & Associates LP raised its position in shares of NeoGenomics by 57.5% in the second quarter. Royce & Associates LP now owns 955,900 shares of the medical research company’s stock valued at $8,565,000 after buying an additional 348,900 shares in the last quarter. Geneva Advisors LLC purchased a new position in shares of NeoGenomics during the second quarter valued at about $1,109,000. Cadence Capital Management LLC raised its position in shares of NeoGenomics by 5.8% in the second quarter. Cadence Capital Management LLC now owns 150,419 shares of the medical research company’s stock valued at $1,348,000 after buying an additional 8,241 shares in the last quarter. Finally, William Blair Investment Management LLC raised its position in shares of NeoGenomics by 10.4% in the second quarter. William Blair Investment Management LLC now owns 788,299 shares of the medical research company’s stock valued at $7,063,000 after buying an additional 74,502 shares in the last quarter. Institutional investors and hedge funds own 78.31% 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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