NeoGenomics (NASDAQ:NEO) Downgraded by BidaskClub to “Sell”
NeoGenomics (NASDAQ:NEO) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday, November 9th, BidAskClub reports.
Several other analysts have also recently weighed in on NEO. Raymond James upped their price objective on shares of NeoGenomics from $23.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Benchmark set a $27.00 price objective on shares of NeoGenomics and gave the stock a “buy” rating in a research note on Wednesday, July 31st. William Blair reaffirmed an “outperform” rating on shares of NeoGenomics in a research note on Tuesday, October 29th. Needham & Company LLC upped their price objective on shares of NeoGenomics from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Leerink Swann set a $30.00 price target on shares of NeoGenomics and gave the company a “buy” rating in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $25.00.
NASDAQ:NEO traded up $0.59 during mid-day trading on Friday, reaching $24.07. The stock had a trading volume of 487,200 shares, compared to its average volume of 668,545. NeoGenomics has a 1-year low of $11.05 and a 1-year high of $26.89. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.24 and a quick ratio of 4.05. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of 185.15 and a beta of 0.94. The stock’s 50 day simple moving average is $20.90 and its two-hundred day simple moving average is $22.61.
NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Tuesday, October 29th. The medical research company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.01. NeoGenomics had a net margin of 0.55% and a return on equity of 4.60%. The firm had revenue of $104.70 million during the quarter, compared to analyst estimates of $99.38 million. During the same quarter in the prior year, the business posted $0.05 earnings per share. The company’s quarterly revenue was up 51.5% compared to the same quarter last year. Sell-side analysts anticipate that NeoGenomics will post 0.19 EPS for the current fiscal year.
In other NeoGenomics news, Director Steven C. Jones sold 181,339 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $24.92, for a total value of $4,518,967.88. Following the sale, the director now directly owns 245,234 shares in the company, valued at $6,111,231.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Steven C. Jones sold 40,737 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $25.02, for a total transaction of $1,019,239.74. Following the completion of the sale, 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. Insiders sold 382,843 shares of company stock worth $9,272,947 over the last 90 days. 8.80% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of NEO. NEXT Financial Group Inc raised its holdings in NeoGenomics by 200.0% in 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 during the period. Captrust Financial Advisors acquired a new stake in shares of NeoGenomics during the second quarter worth $66,000. Nisa Investment Advisors LLC grew its position in NeoGenomics by 867.5% in the third quarter. Nisa Investment Advisors LLC now owns 3,870 shares of the medical research company’s stock valued at $74,000 after purchasing an additional 3,470 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in NeoGenomics by 75.0% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 4,550 shares of the medical research company’s stock valued at $87,000 after purchasing an additional 1,950 shares in the last quarter. Finally, Winslow Evans & Crocker Inc. bought a new position in NeoGenomics in the second quarter valued at $92,000. Institutional investors own 84.48% 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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