NeoGenomics, Inc. (NEO) Raised to “Strong-Buy” at BidaskClub
BidaskClub upgraded shares of NeoGenomics, Inc. (NASDAQ:NEO) from a buy rating to a strong-buy rating in a report published on Saturday morning.
Several other analysts also recently commented on the stock. Gabelli started coverage on shares of NeoGenomics in a report on Thursday, August 24th. They issued a buy rating and a $9.00 price objective on the stock. Zacks Investment Research raised shares of NeoGenomics from a sell rating to a hold rating in a report on Saturday, July 29th. BTIG Research reaffirmed a buy rating and issued a $11.00 price objective on shares of NeoGenomics in a report on Sunday, May 28th. ValuEngine raised shares of NeoGenomics from a sell rating to a hold rating in a report on Monday, August 7th. Finally, Cantor Fitzgerald set a $11.00 price objective on shares of NeoGenomics and gave the company a buy rating in a report on Saturday, May 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $10.20.
NeoGenomics (NASDAQ NEO) opened at 11.26 on Friday. The stock’s 50 day moving average is $9.78 and its 200 day moving average is $8.56. NeoGenomics has a 52 week low of $6.90 and a 52 week high of $11.63. The stock’s market cap is $893.91 million.
NeoGenomics (NASDAQ:NEO) last released its quarterly earnings data on Tuesday, July 25th. The medical research company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.01 by $0.03. The business had revenue of $66.09 million for the quarter, compared to the consensus estimate of $62.95 million. NeoGenomics had a negative net margin of 2.81% and a positive return on equity of 6.09%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.04 EPS. Analysts predict that NeoGenomics will post $0.18 EPS for the current year.
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In other news, Director Alison L. Hannah purchased 20,000 shares of the stock in a transaction that occurred 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 acquisition, the director now owns 38,782 shares of the company’s stock, valued at approximately $356,406.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.20% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Suntrust Banks Inc. lifted its holdings in NeoGenomics by 0.6% during the first 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 in the last quarter. Teachers Advisors LLC lifted its holdings in NeoGenomics by 0.4% during the fourth 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 in the last quarter. Principal Financial Group Inc. lifted its holdings in NeoGenomics by 2.5% during the first 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 in the last quarter. TIAA CREF Investment Management LLC lifted its holdings in NeoGenomics by 0.4% during the second 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 in the last quarter. Finally, ClariVest Asset Management LLC lifted its holdings in NeoGenomics by 1.0% during the first 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 in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.
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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