NeoGenomics (NASDAQ:NEO) PT Raised to $27.00 at Raymond James
NeoGenomics (NASDAQ:NEO) had its price objective raised by stock analysts at Raymond James from $23.00 to $27.00 in a note issued to investors on Wednesday, MarketBeat.com reports. The brokerage presently has an “outperform” rating on the medical research company’s stock. Raymond James’ target price indicates a potential upside of 9.40% from the stock’s current price.
Several other research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of NeoGenomics from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Needham & Company LLC restated a “buy” rating and issued a $24.00 target price (up previously from $22.00) on shares of NeoGenomics in a report on Wednesday, May 1st. Finally, BidaskClub upgraded shares of NeoGenomics from a “hold” rating to a “buy” rating in a report on Friday, July 19th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $23.78.
NASDAQ NEO traded down $1.17 on Wednesday, hitting $24.68. 82,746 shares of the stock were exchanged, compared to its average volume of 641,858. The company has a current ratio of 4.67, a quick ratio of 1.46 and a debt-to-equity ratio of 0.25. NeoGenomics has a fifty-two week low of $11.05 and a fifty-two week high of $25.98. The firm has a market cap of $2.47 billion, a P/E ratio of 189.00 and a beta of 0.78. The firm has a 50-day simple moving average of $23.12.
NeoGenomics (NASDAQ:NEO) last issued its earnings results on Tuesday, July 30th. The medical research company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.02. NeoGenomics had a net margin of 0.57% and a return on equity of 4.08%. 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 posted $0.05 EPS. The company’s revenue for the quarter was up 50.1% on a year-over-year basis. Analysts forecast that NeoGenomics will post 0.18 EPS for the current fiscal year.
In other NeoGenomics news, insider William Bonello sold 7,200 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $23.53, for a total transaction of $169,416.00. Following the completion of the transaction, the insider now owns 13,935 shares in the company, valued at approximately $327,890.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Raymond R. Hipp sold 150,000 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $22.41, for a total transaction of $3,361,500.00. Following the transaction, the director now owns 256,059 shares of the company’s stock, valued at approximately $5,738,282.19. The disclosure for this sale can be found here. 8.80% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the business. Raymond James & Associates bought a new position in NeoGenomics in the 4th quarter worth $515,000. Great West Life Assurance Co. Can lifted its stake in NeoGenomics by 53.9% in the 4th quarter. Great West Life Assurance Co. Can now owns 9,851 shares of the medical research company’s stock worth $120,000 after purchasing an additional 3,451 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in NeoGenomics by 17.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,138,241 shares of the medical research company’s stock worth $14,352,000 after purchasing an additional 172,451 shares in the last quarter. Geode Capital Management LLC lifted its stake in NeoGenomics by 28.3% in the 4th quarter. Geode Capital Management LLC now owns 977,089 shares of the medical research company’s stock worth $12,320,000 after purchasing an additional 215,726 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in NeoGenomics by 347.0% in the 4th quarter. Principal Financial Group Inc. now owns 52,734 shares of the medical research company’s stock worth $665,000 after purchasing an additional 40,936 shares in the last quarter. Institutional investors own 84.07% of the company’s stock.
About NeoGenomics
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.
See Also: How Do Front-End Loads Impact an Investment?
Receive News & Ratings for NeoGenomics Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for NeoGenomics and related companies with MarketBeat.com’s FREE daily email newsletter.
Original Source