NeoGenomics (NASDAQ:NEO) Raised to Buy at BidaskClub
BidaskClub upgraded shares of NeoGenomics (NASDAQ:NEO) from a hold rating to a buy rating in a report issued on Friday, July 19th, BidAskClub reports.
NEO has been the subject of a number of other reports. Zacks Investment Research cut NeoGenomics from a buy rating to a hold rating in a research report on Tuesday, May 7th. Needham & Company LLC restated a buy rating and issued a $24.00 price objective (up from $22.00) on shares of NeoGenomics in a research report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $23.78.
Shares of NeoGenomics stock traded down $0.12 on Friday, reaching $25.78. The company’s stock had a trading volume of 676,085 shares, compared to its average volume of 906,554. The firm has a market capitalization of $2.48 billion, a P/E ratio of 198.31 and a beta of 0.96. NeoGenomics has a 52-week low of $11.05 and a 52-week high of $26.81. The business has a 50-day simple moving average of $23.41. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.67 and a quick ratio of 4.52.
NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Tuesday, July 30th. The medical research company reported $0.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.02. The business had revenue of $101.71 million during the quarter, compared to analysts’ expectations of $97.32 million. NeoGenomics had a return on equity of 4.97% and a net margin of 0.57%. The business’s revenue was up 50.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.05 earnings per share. Research analysts expect that NeoGenomics will post 0.18 earnings per share for the current year.
Institutional investors and hedge funds have recently modified their holdings of the stock. NEXT Financial Group Inc increased its position in shares of NeoGenomics by 200.0% during the second quarter. NEXT Financial Group Inc now owns 2,700 shares of the medical research company’s stock worth $59,000 after purchasing an additional 1,800 shares in the last quarter. Bessemer Group Inc. purchased a new stake in shares of NeoGenomics during the fourth quarter worth approximately $78,000. Winslow Evans & Crocker Inc. purchased a new stake in shares of NeoGenomics during the second quarter worth approximately $92,000. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of NeoGenomics during the fourth quarter worth approximately $103,000. Finally, Great West Life Assurance Co. Can increased its position in shares of NeoGenomics by 53.9% during the fourth 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. Hedge funds and other 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.
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