Zacks Investment Research upgraded shares of NeoGenomics, Inc. (NASDAQ:NEO) from a sell rating to a hold rating in a report published on Thursday, October 26th.
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. “
NEO has been the topic of a number of other reports. BidaskClub downgraded shares of NeoGenomics from a strong-buy rating to a buy rating in a research note on Friday, July 28th. ValuEngine upgraded shares of NeoGenomics from a sell rating to a hold rating in a research note on Monday, August 7th. BTIG Research downgraded shares of NeoGenomics from a buy rating to a neutral rating in a research note on Monday, September 11th. Finally, Gabelli started coverage on shares of NeoGenomics in a report on Thursday, August 24th. They issued a buy rating and a $9.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $10.33.
NeoGenomics (NEO) traded up $0.02 during mid-day trading on Thursday, hitting $8.59. 473,300 shares of the company traded hands, compared to its average volume of 559,631. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.37 and a quick ratio of 2.21. NeoGenomics has a fifty-two week low of $7.12 and a fifty-two week high of $11.63. The firm has a market capitalization of $681.94, a P/E ratio of 171.80, a PEG ratio of 6.78 and a beta of 0.84.
NeoGenomics (NASDAQ:NEO) last released its quarterly earnings results on Wednesday, October 25th. The medical research company reported $0.01 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.01. The business had revenue of $63.05 million for the quarter, compared to the consensus estimate of $63.11 million. NeoGenomics had a negative net margin of 4.78% and a positive return on equity of 3.98%. NeoGenomics’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.04 earnings per share. equities research analysts anticipate that NeoGenomics will post 0.06 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. raised its holdings in 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 buying an additional 545 shares during the last quarter. TIAA CREF Investment Management LLC raised its holdings in 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 buying an additional 581 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in NeoGenomics by 7.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,600 shares of the medical research company’s stock valued at $107,000 after buying an additional 1,000 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in NeoGenomics by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 199,654 shares of the medical research company’s stock worth $1,789,000 after purchasing an additional 1,235 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in NeoGenomics by 3.6% during the 2nd quarter. Rhumbline Advisers now owns 61,500 shares of the medical research company’s stock worth $551,000 after purchasing an additional 2,135 shares during the last quarter. Institutional investors and hedge funds own 80.19% 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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