NeoGenomics (NASDAQ:NEO) Rating Increased to Buy at ValuEngine –

Brenda Bartman 2020-04-06 17:04

ValuEngine upgraded shares of NeoGenomics (NASDAQ:NEO) from a hold rating to a buy rating in a research report report published on Thursday morning, ValuEngine reports.

Several other equities research analysts have also recently weighed in on NEO. Benchmark upped their target price on NeoGenomics from $27.00 to $30.00 and gave the stock a buy rating in a report on Friday, February 28th. First Analysis raised NeoGenomics from an outperform rating to a strong-buy rating and set a $35.00 price target for the company in a research report on Friday, February 28th. Needham & Company LLC boosted their price target on NeoGenomics from $32.00 to $33.00 and gave the stock a buy rating in a research report on Tuesday, March 17th. BidaskClub raised NeoGenomics from a hold rating to a buy rating in a research report on Thursday, March 26th. Finally, Raymond James boosted their price target on NeoGenomics from $28.00 to $32.00 and gave the stock an outperform rating in a research report on Monday, March 2nd. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $31.43.

Shares of NEO stock traded up $1.99 during mid-day trading on Thursday, hitting $26.20. The stock had a trading volume of 869,148 shares, compared to its average volume of 956,595. NeoGenomics has a 12-month low of $18.52 and a 12-month high of $34.97. The firm has a market capitalization of $2.54 billion, a P/E ratio of 374.34 and a beta of 0.98. The firm’s 50-day moving average is $28.68 and its two-hundred day moving average is $26.44. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.55 and a quick ratio of 4.32.

NeoGenomics (NASDAQ:NEO) last issued its earnings results on Thursday, February 27th. The medical research company reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.04. NeoGenomics had a return on equity of 5.27% and a net margin of 1.96%. The business had revenue of $106.90 million during the quarter, compared to analysts’ expectations of $104.25 million. During the same period in the prior year, the business earned $0.06 EPS. The business’s revenue for the quarter was up 39.4% compared to the same quarter last year. Analysts expect that NeoGenomics will post 0.2 EPS for the current year.

In other news, insider Robert J. Shovlin sold 98,093 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $30.86, for a total value of $3,027,149.98. Following the transaction, the insider now directly owns 249,733 shares of the company’s stock, valued at $7,706,760.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven C. Jones sold 297,300 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $28.77, for a total value of $8,553,321.00. Following the completion of the transaction, the director now directly owns 195,234 shares in the company, valued at $5,616,882.18. The disclosure for this sale can be found here. Corporate insiders own 8.80% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Kopp Family Office LLC purchased a new stake in shares of NeoGenomics in the fourth quarter worth about $141,705,000. Norges Bank purchased a new stake in shares of NeoGenomics in the fourth quarter worth about $24,693,000. Artisan Partners Limited Partnership boosted its stake in shares of NeoGenomics by 31.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,932,090 shares of the medical research company’s stock worth $85,764,000 after buying an additional 705,037 shares during the last quarter. Redwood Investments LLC purchased a new stake in shares of NeoGenomics in the fourth quarter worth about $17,489,000. Finally, Driehaus Capital Management LLC boosted its stake in shares of NeoGenomics by 54.4% in the fourth quarter. Driehaus Capital Management LLC now owns 694,800 shares of the medical research company’s stock worth $20,323,000 after buying an additional 244,872 shares during the last quarter. 89.13% of the stock is currently 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.