NeoGenomics (NASDAQ:NEO) was downgraded by analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday.
A number of other equities research analysts also recently issued reports on NEO. BidaskClub downgraded NeoGenomics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Raymond James restated a “buy” rating and set a $24.00 price objective on shares of NeoGenomics in a research report on Tuesday. Scotiabank restated an “average” rating and set a $24.00 price objective on shares of NeoGenomics in a research report on Friday, November 16th. Zacks Investment Research upgraded NeoGenomics from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective on the stock in a research report on Saturday, November 3rd. Finally, First Analysis set a $16.00 price objective on NeoGenomics and gave the company a “buy” rating in a research report on Tuesday, September 18th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $20.33.
Shares of NEO stock opened at $14.19 on Thursday. NeoGenomics has a 1 year low of $7.08 and a 1 year high of $19.04. The company has a current ratio of 4.13, a quick ratio of 3.98 and a debt-to-equity ratio of 0.32. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 113.69 and a beta of -0.01.
NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings data on Tuesday, October 30th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $66.13 million. During the same period in the prior year, the business posted $0.01 earnings per share. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. On average, equities research analysts anticipate that NeoGenomics will post 0.11 earnings per share for the current fiscal year.
In other news, major shareholder Electric Co General sold 4,164,855 shares of the stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $16.75, for a total value of $69,761,321.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Lynn A. Tetrault sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $16.16, for a total value of $80,800.00. Following the completion of the sale, the director now owns 47,346 shares in the company, valued at $765,111.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,994,643 shares of company stock worth $83,771,998. Company insiders own 12.20% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. First Light Asset Management LLC grew its stake in NeoGenomics by 8.4% in the second quarter. First Light Asset Management LLC now owns 5,162,063 shares of the medical research company’s stock worth $67,675,000 after purchasing an additional 401,731 shares in the last quarter. BlackRock Inc. grew its stake in NeoGenomics by 22.4% in the third quarter. BlackRock Inc. now owns 5,079,026 shares of the medical research company’s stock worth $77,960,000 after purchasing an additional 929,697 shares in the last quarter. Vanguard Group Inc. grew its stake in NeoGenomics by 24.0% in the third quarter. Vanguard Group Inc. now owns 3,839,641 shares of the medical research company’s stock worth $58,939,000 after purchasing an additional 743,245 shares in the last quarter. Artisan Partners Limited Partnership grew its stake in NeoGenomics by 0.7% in the second quarter. Artisan Partners Limited Partnership now owns 2,175,072 shares of the medical research company’s stock worth $28,515,000 after purchasing an additional 14,583 shares in the last quarter. Finally, Eagle Asset Management Inc. bought a new position in NeoGenomics in the third quarter worth approximately $33,116,000. Hedge funds and other institutional investors own 83.61% of the company’s stock.
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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