NeoGenomics (NASDAQ:NEO) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

NEO has been the subject of a number of other research reports. Scotiabank restated an “average” rating and issued a $24.00 target price on shares of NeoGenomics in a research note on Friday. Raymond James raised their target price on NeoGenomics from $16.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, October 31st. Zacks Investment Research upgraded NeoGenomics from a “hold” rating to a “strong-buy” rating and set a $21.00 target price for the company in a research note on Saturday, November 3rd. Benchmark set a $22.00 target price on NeoGenomics and gave the company a “buy” rating in a research note on Thursday, November 1st. Finally, First Analysis set a $16.00 target price on NeoGenomics and gave the company a “buy” rating in a research note on Tuesday, September 18th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. NeoGenomics has an average rating of “Buy” and an average price target of $20.08.

NASDAQ NEO opened at $16.11 on Friday. NeoGenomics has a fifty-two week low of $7.08 and a fifty-two week high of $19.04. The company has a debt-to-equity ratio of 0.32, a current ratio of 4.13 and a quick ratio of 3.98. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 268.50 and a beta of -0.01.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings data on Tuesday, October 30th. The medical research company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. NeoGenomics had a return on equity of 2.63% and a net margin of 1.70%. The business had revenue of $69.10 million during the quarter, compared to analysts’ expectations of $66.13 million. During the same quarter last year, the business posted $0.01 EPS. The business’s revenue was up 16.8% on a year-over-year basis. As a group, research analysts expect that NeoGenomics will post 0.11 earnings per share for the current year.

In related news, major shareholder Electric Co General sold 4,164,855 shares of the firm’s stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $16.75, for a total transaction of $69,761,321.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jennifer Balliet sold 68,333 shares of the firm’s stock in a transaction that occurred on Monday, November 12th. The shares were sold at an average price of $16.89, for a total value of $1,154,144.37. Following the transaction, the vice president now directly owns 55,000 shares of the company’s stock, valued at approximately $928,950. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,981,643 shares of company stock valued at $83,563,998. 12.20% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of NEO. Glenmede Trust Co. NA bought a new position in NeoGenomics during the 3rd quarter valued at approximately $114,000. Cubist Systematic Strategies LLC bought a new position in NeoGenomics during the 2nd quarter valued at approximately $171,000. AMP Capital Investors Ltd bought a new position in NeoGenomics during the 2nd quarter valued at approximately $178,000. Prudential Financial Inc. bought a new position in NeoGenomics during the 3rd quarter valued at approximately $224,000. Finally, PNC Financial Services Group Inc. bought a new stake in shares of NeoGenomics in the 2nd quarter worth $272,000. 82.37% of the stock is owned by institutional investors.

NeoGenomics Company Profile

NeoGenomics, Inc, together with its subsidiaries, operates a network of cancer-focused genetic testing laboratories in the United States. It operates through Clinical Services and Pharma Services segments. The company laboratories provide genetic and molecular testing services to hospitals, pathologists, oncologists, urologists, other clinicians and researchers, pharmaceutical firms, and other clinical laboratories.

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Analyst Recommendations for NeoGenomics (NASDAQ:NEO)

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