NeoGenomics (NASDAQ:NEO) Stock Rating Lowered by ValuEngine
NeoGenomics (NASDAQ:NEO) was downgraded by ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Thursday, ValuEngine reports.
A number of other research firms have also weighed in on NEO. Zacks Investment Research lowered shares of NeoGenomics from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. BidaskClub upgraded shares of NeoGenomics from a “hold” rating to a “buy” rating in a research report on Friday, July 19th. Raymond James boosted their price target on shares of NeoGenomics from $23.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and set a $24.00 price target (up from $22.00) on shares of NeoGenomics in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $23.78.
NeoGenomics stock traded down $0.43 during mid-day trading on Thursday, reaching $25.42. The company’s stock had a trading volume of 1,383,441 shares, compared to its average volume of 693,565. NeoGenomics has a 12-month low of $11.05 and a 12-month high of $26.14. The firm has a market cap of $2.33 billion, a P/E ratio of 195.54 and a beta of 0.96. 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 stock has a fifty day moving average of $23.16.
NeoGenomics (NASDAQ:NEO) last released its quarterly earnings data on Tuesday, July 30th. The medical research company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. NeoGenomics had a net margin of 0.57% and a return on equity of 4.97%. The business had revenue of $101.71 million during the quarter, compared to analyst estimates of $97.32 million. During the same period in the previous year, the business earned $0.05 EPS. NeoGenomics’s revenue was up 50.1% compared to the same quarter last year. Equities analysts expect that NeoGenomics will post 0.17 EPS for the current fiscal year.
In other news, Director Raymond R. Hipp sold 150,000 shares of NeoGenomics stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $22.41, for a total transaction of $3,361,500.00. Following the completion of the sale, the director now directly owns 256,059 shares of the company’s stock, valued at approximately $5,738,282.19. The transaction 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 transaction of $169,416.00. Following the sale, the insider now directly owns 13,935 shares of the company’s stock, valued at $327,890.55. The disclosure for this sale can be found here. 8.80% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Yorktown Management & Research Co Inc lifted its holdings in shares of NeoGenomics by 4.6% during the 2nd quarter. Yorktown Management & Research Co Inc now owns 18,300 shares of the medical research company’s stock worth $402,000 after acquiring an additional 800 shares during the last quarter. Swiss National Bank lifted its holdings in shares of NeoGenomics by 2.3% during the 2nd quarter. Swiss National Bank now owns 167,200 shares of the medical research company’s stock worth $3,668,000 after acquiring an additional 3,700 shares during the last quarter. Comerica Bank lifted its holdings in shares of NeoGenomics by 2.0% during the 2nd quarter. Comerica Bank now owns 95,102 shares of the medical research company’s stock worth $2,273,000 after acquiring an additional 1,826 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of NeoGenomics by 33.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 36,908 shares of the medical research company’s stock worth $810,000 after acquiring an additional 9,309 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. lifted its holdings in shares of NeoGenomics by 32.3% during the 2nd quarter. Candriam Luxembourg S.C.A. now owns 176,201 shares of the medical research company’s stock worth $3,849,000 after acquiring an additional 43,000 shares during the last quarter. 84.07% of the stock is owned by institutional investors.
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.
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