Zacks Investment Research upgraded shares of NeoGenomics, Inc. (NASDAQ:NEO) from a sell rating to a hold rating in a research report sent to investors on Friday, October 20th.
According to Zacks, “NeoGenomics, Inc. is a high-complexity CLIA-certified clinical laboratory that specializes in cancer genetics diagnostic testing, the fastest growing segment of the laboratory industry. The company’s testing services include cytogenetics, fluorescence in-situ hybridization, flow cytometry, morphology studies, anatomic pathology and molecular genetic testing. Headquartered in Fort Myers, FL, NeoGenomics has labs in Nashville, TN, Irvine, CA and Fort Myers and services the needs of pathologists, oncologists, urologists, hospitals and other reference laboratories throughout the United States. “
Several other equities analysts have also weighed in on the company. BidaskClub lowered NeoGenomics from a strong-buy rating to a buy rating in a report on Wednesday, October 18th. BTIG Research lowered NeoGenomics from a buy rating to a neutral rating in a report on Monday, September 11th. Gabelli assumed coverage on NeoGenomics in a report on Thursday, August 24th. They set a buy rating and a $9.00 price objective for the company. Finally, ValuEngine raised NeoGenomics from a sell rating to a hold rating in a report on Monday, August 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $10.33.
NeoGenomics (NASDAQ NEO) opened at 8.49 on Friday. The company’s market capitalization is $674.00 million. The stock’s 50 day moving average price is $10.25 and its 200 day moving average price is $9.02. NeoGenomics has a 52 week low of $7.12 and a 52 week high of $11.63.
NeoGenomics (NASDAQ:NEO) last released its earnings results on Wednesday, October 25th. The medical research company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. The company had revenue of $63.05 million during the quarter, compared to analyst estimates of $63.11 million. NeoGenomics had a positive return on equity of 3.98% and a negative net margin of 4.78%. NeoGenomics’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.04 earnings per share. Analysts anticipate that NeoGenomics will post $0.13 earnings per share for the current year.
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Large investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. lifted its position in shares of NeoGenomics by 7.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,600 shares of the medical research company’s stock worth $107,000 after acquiring an additional 1,000 shares in the last quarter. Wrapmanager Inc. purchased a new stake in shares of NeoGenomics during the second quarter worth $109,000. KCG Holdings Inc. purchased a new stake in shares of NeoGenomics during the first quarter worth $118,000. OLD National Bancorp IN purchased a new stake in shares of NeoGenomics during the second quarter worth $141,000. Finally, Parkwood LLC purchased a new stake in shares of NeoGenomics during the second quarter worth $165,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.
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.
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