NeoGenomics (NASDAQ:NEO) Lifted to Hold at BidaskClub

Cindy Kellogue 2019-11-12 22:11

BidaskClub upgraded shares of NeoGenomics (NASDAQ:NEO) from a sell rating to a hold rating in a research note released on Friday, November 1st, BidAskClub reports.

Several other research firms have also recently weighed in on NEO. ValuEngine cut NeoGenomics from a buy rating to a hold rating in a report on Wednesday, October 2nd. Leerink Swann set a $30.00 price objective on NeoGenomics and gave the company a buy rating in a report on Wednesday, July 31st. Needham & Company LLC raised their price objective on NeoGenomics from $27.00 to $29.00 and gave the company a buy rating in a report on Wednesday, October 30th. Benchmark set a $27.00 price objective on NeoGenomics and gave the company a buy rating in a report on Wednesday, July 31st. Finally, William Blair reissued an outperform rating on shares of NeoGenomics in a report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $24.86.

Shares of NASDAQ:NEO traded up $0.31 on Friday, hitting $23.20. The company’s stock had a trading volume of 421,001 shares, compared to its average volume of 990,077. The company has a 50-day simple moving average of $20.71 and a 200 day simple moving average of $22.55. NeoGenomics has a 1 year low of $11.05 and a 1 year high of $26.89. The company has a market capitalization of $2.36 billion, a PE ratio of 178.46 and a beta of 0.94. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.24 and a quick ratio of 4.05.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings results on Tuesday, October 29th. The medical research company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. NeoGenomics had a return on equity of 4.60% and a net margin of 0.55%. The firm had revenue of $104.70 million for the quarter, compared to analysts’ expectations of $99.38 million. During the same quarter last year, the firm posted $0.05 EPS. The company’s revenue was up 51.5% compared to the same quarter last year. On average, equities research analysts expect that NeoGenomics will post 0.19 earnings per share for the current fiscal year.

In related news, Director Steven C. Jones sold 181,339 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $24.92, for a total transaction of $4,518,967.88. Following the transaction, the director now directly owns 245,234 shares in the company, valued at approximately $6,111,231.28. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Steven C. Jones sold 40,737 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $25.02, for a total value of $1,019,239.74. Following the transaction, the director now owns 245,234 shares in the company, valued at $6,135,754.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 363,399 shares of company stock worth $8,822,819. 8.80% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of NEO. Vanguard Group Inc. raised its stake in shares of NeoGenomics by 41.6% during the 2nd quarter. Vanguard Group Inc. now owns 8,173,714 shares of the medical research company’s stock valued at $179,331,000 after buying an additional 2,401,227 shares during the last quarter. Marshall Wace LLP boosted its stake in NeoGenomics by 492.5% in the 2nd quarter. Marshall Wace LLP now owns 1,358,313 shares of the medical research company’s stock worth $29,801,000 after purchasing an additional 1,129,043 shares during the period. BlackRock Inc. boosted its stake in NeoGenomics by 8.0% in the 2nd quarter. BlackRock Inc. now owns 14,925,327 shares of the medical research company’s stock worth $327,462,000 after purchasing an additional 1,100,263 shares during the period. Nuveen Asset Management LLC bought a new position in NeoGenomics in the 2nd quarter worth about $19,966,000. Finally, Wells Fargo & Company MN boosted its stake in NeoGenomics by 122.4% in the 2nd quarter. Wells Fargo & Company MN now owns 532,393 shares of the medical research company’s stock worth $11,680,000 after purchasing an additional 293,049 shares during the period. Institutional investors and hedge funds own 84.48% of the company’s stock.

NeoGenomics Company Profile

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.