BidaskClub Lowers NeoGenomics, Inc. (NEO) to Buy
BidaskClub lowered shares of NeoGenomics, Inc. (NASDAQ:NEO) from a strong-buy rating to a buy rating in a research report sent to investors on Wednesday morning.
A number of other research firms have also recently weighed in on NEO. BTIG Research cut shares of NeoGenomics from a buy rating to a neutral rating in a report on Monday, September 11th. Zacks Investment Research upgraded shares of NeoGenomics from a sell rating to a hold rating in a report on Saturday, July 29th. ValuEngine upgraded shares of NeoGenomics from a sell rating to a hold rating in a report on Monday, August 7th. Gabelli assumed coverage on shares of NeoGenomics in a report on Thursday, August 24th. They issued a buy rating and a $9.00 price target on the stock. Finally, Cantor Fitzgerald set a $11.00 price target on shares of NeoGenomics and gave the company a buy rating in a report on Saturday, May 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $10.20.
NeoGenomics (NASDAQ NEO) opened at 10.67 on Wednesday. NeoGenomics has a one year low of $6.90 and a one year high of $11.63. The firm has a 50-day moving average of $9.70 and a 200 day moving average of $8.51. The stock’s market capitalization is $847.07 million.
NeoGenomics (NASDAQ:NEO) last released its quarterly earnings results on Tuesday, July 25th. The medical research company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $66.09 million for the quarter, compared to analysts’ expectations of $62.95 million. During the same period last year, the business earned $0.04 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts anticipate that NeoGenomics will post $0.18 earnings per share for the current fiscal year.
In related news, VP Jennifer Balliet sold 10,723 shares of the stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $8.49, for a total value of $91,038.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alison L. Hannah acquired 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The stock was bought at an average cost of $9.19 per share, with a total value of $183,800.00. Following the completion of the transaction, the director now directly owns 38,782 shares in the company, valued at $356,406.58. The disclosure for this purchase can be found here. 12.20% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. Suntrust Banks Inc. raised its position in shares of NeoGenomics by 0.6% in the 1st quarter. Suntrust Banks Inc. now owns 31,617 shares of the medical research company’s stock valued at $249,000 after purchasing an additional 184 shares during the last quarter. Teachers Advisors LLC raised its position in shares of NeoGenomics by 0.4% in the 4th quarter. Teachers Advisors LLC now owns 93,314 shares of the medical research company’s stock valued at $800,000 after purchasing an additional 396 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of NeoGenomics by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 22,164 shares of the medical research company’s stock valued at $175,000 after purchasing an additional 545 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in shares of NeoGenomics by 0.4% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 149,220 shares of the medical research company’s stock valued at $1,337,000 after purchasing an additional 581 shares during the last quarter. Finally, ClariVest Asset Management LLC raised its position in shares of NeoGenomics by 1.0% in the 1st quarter. ClariVest Asset Management LLC now owns 89,000 shares of the medical research company’s stock valued at $701,000 after purchasing an additional 900 shares during the last quarter. 80.81% of the stock is owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for NeoGenomics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NeoGenomics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.