NeoGenomics (NASDAQ:NEO) Lowered to “Sell” at BidaskClub
NeoGenomics (NASDAQ:NEO) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Thursday, October 24th, BidAskClub reports.
Other equities research analysts have also recently issued research reports about the company. Needham & Company LLC set a $27.00 target price on NeoGenomics and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Leerink Swann set a $30.00 price objective on NeoGenomics and gave the company a “buy” rating in a research note on Wednesday, July 31st. Zacks Investment Research cut NeoGenomics from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. ValuEngine cut NeoGenomics from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Benchmark set a $27.00 price objective on NeoGenomics and gave the company a “buy” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $25.00.
Shares of NEO traded up $0.59 during mid-day trading on Thursday, hitting $24.07. 487,200 shares of the stock were exchanged, compared to its average volume of 668,545. NeoGenomics has a 52-week low of $11.05 and a 52-week high of $26.89. The company has a market cap of $2.45 billion, a PE ratio of 185.15 and a beta of 0.94. The company has a debt-to-equity ratio of 0.24, a quick ratio of 4.05 and a current ratio of 4.24. The firm has a 50-day moving average of $20.90 and a two-hundred day moving average of $22.61.
NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings data on Tuesday, October 29th. The medical research company reported $0.07 EPS for the quarter, topping the Zacks’ 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 the consensus estimate of $99.38 million. During the same quarter last year, the business posted $0.05 earnings per share. The firm’s revenue was up 51.5% compared to the same quarter last year. On average, sell-side analysts predict that NeoGenomics will post 0.19 EPS for the current year.
In other NeoGenomics news, Director Steven C. Jones sold 40,737 shares of NeoGenomics stock in a transaction dated 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 directly owns 245,234 shares of the company’s stock, valued at approximately $6,135,754.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider George Cardoza sold 51,556 shares of NeoGenomics stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $22.82, for a total value of $1,176,507.92. Following the sale, the insider now directly owns 356,387 shares of the company’s stock, valued at $8,132,751.34. The disclosure for this sale can be found here. Insiders have sold a total of 382,843 shares of company stock valued at $9,272,947 over the last three months. 8.80% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of NEO. BlackRock Inc. raised its stake in NeoGenomics by 8.0% during the 2nd quarter. BlackRock Inc. now owns 14,925,327 shares of the medical research company’s stock valued at $327,462,000 after acquiring an additional 1,100,263 shares during the last quarter. Vanguard Group Inc. increased its position in NeoGenomics by 41.6% during the 2nd quarter. Vanguard Group Inc. now owns 8,173,714 shares of the medical research company’s stock worth $179,331,000 after purchasing an additional 2,401,227 shares during the period. Brown Advisory Inc. increased its position in NeoGenomics by 0.3% during the 2nd quarter. Brown Advisory Inc. now owns 2,525,843 shares of the medical research company’s stock worth $55,417,000 after purchasing an additional 8,524 shares during the period. Emerald Advisers LLC increased its position in NeoGenomics by 3.8% during the 2nd quarter. Emerald Advisers LLC now owns 1,951,061 shares of the medical research company’s stock worth $42,806,000 after purchasing an additional 72,160 shares during the period. Finally, Granite Investment Partners LLC increased its position in NeoGenomics by 1.6% during the 2nd quarter. Granite Investment Partners LLC now owns 1,791,477 shares of the medical research company’s stock worth $39,305,000 after purchasing an additional 27,387 shares during the period. 84.48% of the stock is owned by institutional investors and hedge funds.
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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