NeoGenomics (NASDAQ:NEO) had its price objective upped by Raymond James from $23.00 to $27.00 in a research note released on Wednesday morning, BenzingaRatingsTable reports. The firm currently has an outperform rating on the medical research company’s stock.
Several other equities research analysts have also recently commented on NEO. Needham & Company LLC restated a buy rating and set a $24.00 price target (up previously from $22.00) on shares of NeoGenomics in a research note on Wednesday, May 1st. BidaskClub upgraded NeoGenomics from a hold rating to a buy rating in a research note on Friday, July 19th. Finally, Zacks Investment Research cut NeoGenomics from a buy rating to a hold rating in a research note on Thursday, July 25th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $23.78.
Shares of NeoGenomics stock traded down $0.43 during trading hours on Wednesday, hitting $25.42. 1,383,441 shares of the company were exchanged, compared to its average volume of 773,596. NeoGenomics has a 1 year low of $11.05 and a 1 year high of $26.14. The company has a quick ratio of 1.46, a current ratio of 4.67 and a debt-to-equity ratio of 0.25. The firm has a 50-day simple moving average of $23.16. The firm has a market capitalization of $2.47 billion, a PE ratio of 195.54 and a beta of 0.96.
NeoGenomics (NASDAQ:NEO) last released its quarterly earnings results on Tuesday, July 30th. The medical research company reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.02. NeoGenomics had a return on equity of 4.97% and a net margin of 0.57%. The business had revenue of $101.71 million during the quarter, compared to analysts’ expectations of $97.32 million. During the same quarter in the prior year, the business earned $0.05 earnings per share. The company’s quarterly revenue was up 50.1% compared to the same quarter last year. On average, research analysts predict that NeoGenomics will post 0.18 EPS for the current year.
In related news, Director Raymond R. Hipp sold 150,000 shares of NeoGenomics stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $22.41, for a total value of $3,361,500.00. Following the transaction, the director now directly owns 256,059 shares in the company, valued at approximately $5,738,282.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Bonello sold 7,200 shares of NeoGenomics stock in a transaction on Monday, May 6th. The stock was sold at an average price of $23.53, for a total value of $169,416.00. Following the completion of the transaction, the insider now owns 13,935 shares in the company, valued at $327,890.55. The disclosure for this sale can be found here. 8.80% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of NEO. BlackRock Inc. grew its holdings in shares of NeoGenomics by 150.5% in the 1st quarter. BlackRock Inc. now owns 13,825,064 shares of the medical research company’s stock worth $282,861,000 after acquiring an additional 8,305,417 shares during the last quarter. Millennium Management LLC grew its holdings in shares of NeoGenomics by 6,511.7% in the 4th quarter. Millennium Management LLC now owns 770,201 shares of the medical research company’s stock worth $9,712,000 after acquiring an additional 758,552 shares during the last quarter. Eagle Asset Management Inc. grew its holdings in shares of NeoGenomics by 19.0% in the 1st quarter. Eagle Asset Management Inc. now owns 2,705,536 shares of the medical research company’s stock worth $55,355,000 after acquiring an additional 431,393 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of NeoGenomics by 123.5% in the 4th quarter. American Century Companies Inc. now owns 687,775 shares of the medical research company’s stock worth $8,673,000 after acquiring an additional 380,041 shares during the last quarter. Finally, Granite Investment Partners LLC grew its holdings in shares of NeoGenomics by 14.4% in the 1st quarter. Granite Investment Partners LLC now owns 1,764,090 shares of the medical research company’s stock worth $36,093,000 after acquiring an additional 221,850 shares during the last quarter. Institutional investors and hedge funds own 84.07% of the company’s stock.
NeoGenomics, Inc, together with its subsidiaries, operates a network of cancer-focused genetic testing laboratories in the United States; and laboratories in Switzerland and Singapore. It operates in two segments, Clinical Services and Pharma Services. The company's laboratories provide genetic and molecular testing services to hospitals, pathologists, oncologists, urologists, other clinicians and researchers, pharmaceutical firms, academic centers, and other clinical laboratories.
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