BTIG Research cut shares of NeoGenomics, Inc. (NASDAQ:NEO) from a buy rating to a neutral rating in a research note issued to investors on Monday, Marketbeat Ratings reports.

NEO has been the subject of several other research reports. BidaskClub lowered shares of NeoGenomics from a strong-buy rating to a buy rating in a research report on Friday, July 28th. ValuEngine raised shares of NeoGenomics from a sell rating to a hold rating in a research report on Monday, August 7th. Cantor Fitzgerald set a $11.00 price target on shares of NeoGenomics and gave the stock a buy rating in a research report on Saturday, May 27th. Zacks Investment Research lowered shares of NeoGenomics from a hold rating to a sell rating in a research report on Tuesday, June 27th. Finally, Gabelli assumed coverage on shares of NeoGenomics in a research report on Thursday, August 24th. They issued a buy rating and a $9.00 price target for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. NeoGenomics presently has a consensus rating of Hold and a consensus target price of $10.20.

NeoGenomics (NEO) opened at 10.59 on Monday. NeoGenomics has a 52 week low of $6.90 and a 52 week high of $11.63. The firm has a 50-day moving average price of $9.66 and a 200-day moving average price of $8.49. The firm’s market capitalization is $840.72 million.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Tuesday, July 25th. The medical research company reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.03. NeoGenomics had a negative net margin of 2.81% and a positive return on equity of 6.09%. The firm had revenue of $66.09 million during the quarter, compared to analyst estimates of $62.95 million. During the same quarter in the prior year, the business posted $0.04 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities analysts forecast that NeoGenomics will post $0.18 EPS for the current year.

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In other news, Director Alison L. Hannah acquired 20,000 shares of the firm’s stock in a transaction on Thursday, July 27th. The shares were purchased at an average cost of $9.19 per share, with a total value of $183,800.00. Following the completion of the purchase, the director now owns 38,782 shares of the company’s stock, valued at $356,406.58. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Jennifer Balliet sold 10,723 shares of the company’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $8.49, for a total transaction of $91,038.27. The disclosure for this sale can be found here. 12.20% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. Royce & Associates LP grew its stake in NeoGenomics by 57.5% during the second quarter. Royce & Associates LP now owns 955,900 shares of the medical research company’s stock worth $8,565,000 after buying an additional 348,900 shares during the last quarter. Blair William & Co. IL grew its stake in NeoGenomics by 8.1% during the second quarter. Blair William & Co. IL now owns 377,672 shares of the medical research company’s stock worth $3,384,000 after buying an additional 28,213 shares during the last quarter. Cadence Capital Management LLC grew its stake in NeoGenomics by 5.8% during the second quarter. Cadence Capital Management LLC now owns 150,419 shares of the medical research company’s stock worth $1,348,000 after buying an additional 8,241 shares during the last quarter. Falcon Point Capital LLC grew its stake in NeoGenomics by 338.6% during the second quarter. Falcon Point Capital LLC now owns 1,100,474 shares of the medical research company’s stock worth $9,860,000 after buying an additional 849,589 shares during the last quarter. Finally, Spark Investment Management LLC bought a new stake in shares of NeoGenomics during the first quarter valued at approximately $1,012,000. 80.81% of the stock is currently owned by hedge funds and other institutional investors.

NeoGenomics Company Profile

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.

Analyst Recommendations for NeoGenomics (NASDAQ:NEO)

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