NeoGenomics (NASDAQ:NEO) Lowered to “Hold” at BidaskClub
NeoGenomics (NASDAQ:NEO) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Saturday, July 13th, BidAskClub reports.
A number of other brokerages have also issued reports on NEO. Zacks Investment Research lowered shares of NeoGenomics from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Needham & Company LLC reiterated a “buy” rating and issued a $24.00 price objective (up previously from $22.00) on shares of NeoGenomics in a report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $23.78.
Shares of NEO stock traded down $0.43 on Friday, hitting $25.42. The company’s stock had a trading volume of 1,383,441 shares, compared to its average volume of 773,596. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.67 and a quick ratio of 1.46. The business has a 50 day simple moving average of $23.16. NeoGenomics has a fifty-two week low of $11.05 and a fifty-two week high of $26.14. The company has a market cap of $2.47 billion, a P/E 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, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.02. The business had revenue of $101.71 million for the quarter, compared to the consensus estimate of $97.32 million. NeoGenomics had a net margin of 0.57% and a return on equity of 4.97%. NeoGenomics’s revenue was up 50.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.05 earnings per share. On average, sell-side analysts anticipate that NeoGenomics will post 0.18 earnings per share for the current year.
In other news, 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 in the company, valued at approximately $327,890.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Raymond R. Hipp sold 150,000 shares of the company’s stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Company insiders own 8.80% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Yorktown Management & Research Co Inc grew its holdings in 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 valued at $402,000 after buying an additional 800 shares in the last quarter. Swiss National Bank grew its holdings in NeoGenomics by 2.3% during the 2nd quarter. Swiss National Bank now owns 167,200 shares of the medical research company’s stock valued at $3,668,000 after buying an additional 3,700 shares in the last quarter. Comerica Bank grew its holdings in NeoGenomics by 2.0% during the 2nd quarter. Comerica Bank now owns 95,102 shares of the medical research company’s stock valued at $2,273,000 after buying an additional 1,826 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of NeoGenomics by 33.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 36,908 shares of the medical research company’s stock worth $810,000 after purchasing an additional 9,309 shares during the period. Finally, Candriam Luxembourg S.C.A. boosted its holdings in shares of NeoGenomics by 32.3% in 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 purchasing an additional 43,000 shares during the period. 84.07% of the stock is currently owned by hedge funds and other 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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