NeoGenomics (NASDAQ:NEO) Receives New Coverage from Analysts at Guggenheim – Ticker Report
Guggenheim initiated coverage on shares of NeoGenomics (NASDAQ:NEO) in a report issued on Friday morning, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $46.00 target price on the medical research company’s stock.
NEO has been the topic of a number of other research reports. BidaskClub raised NeoGenomics from a buy rating to a strong-buy rating in a report on Friday, July 3rd. Benchmark upped their price target on shares of NeoGenomics from $35.00 to $40.00 and gave the company a buy rating in a research report on Wednesday, July 29th. ValuEngine downgraded shares of NeoGenomics from a buy rating to a hold rating in a report on Friday, May 1st. Bank of America assumed coverage on shares of NeoGenomics in a report on Thursday, June 25th. They set a buy rating and a $34.00 target price for the company. Finally, Craig Hallum lifted their price target on shares of NeoGenomics from $36.00 to $42.00 and gave the stock a buy rating in a research note on Wednesday, July 29th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of Buy and an average target price of $36.73.
Shares of NeoGenomics stock opened at $38.60 on Friday. NeoGenomics has a twelve month low of $18.52 and a twelve month high of $41.03. The company has a quick ratio of 6.44, a current ratio of 6.79 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average is $37.99 and its 200 day moving average is $30.86. The company has a market cap of $4.17 billion, a price-to-earnings ratio of -772.00 and a beta of 0.82.
NeoGenomics (NASDAQ:NEO) last announced its earnings results on Tuesday, July 28th. The medical research company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.06. The business had revenue of $86.90 million during the quarter, compared to analyst estimates of $86.55 million. NeoGenomics had a negative net margin of 1.33% and a positive return on equity of 0.73%. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.07 EPS. Sell-side analysts expect that NeoGenomics will post -0.01 EPS for the current fiscal year.
In other news, VP Jennifer Balliet sold 13,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $39.25, for a total value of $510,250.00. Following the completion of the transaction, the vice president now owns 37,980 shares of the company’s stock, valued at $1,490,715. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider William Bonello sold 22,000 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $38.61, for a total value of $849,420.00. Following the sale, the insider now owns 32,096 shares of the company’s stock, valued at approximately $1,239,226.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 198,856 shares of company stock valued at $7,711,404. Corporate insiders own 6.50% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. C M Bidwell & Associates Ltd. purchased a new position in NeoGenomics during the 1st quarter valued at approximately $30,000. Carroll Financial Associates Inc. bought a new stake in NeoGenomics in the second quarter worth $31,000. Cullen Frost Bankers Inc. bought a new stake in NeoGenomics in the second quarter worth $31,000. Global Retirement Partners LLC raised its stake in NeoGenomics by 27.1% during the first quarter. Global Retirement Partners LLC now owns 2,110 shares of the medical research company’s stock valued at $58,000 after purchasing an additional 450 shares in the last quarter. Finally, Jacobi Capital Management LLC lifted its position in NeoGenomics by 70.1% during the second quarter. Jacobi Capital Management LLC now owns 3,401 shares of the medical research company’s stock valued at $62,000 after purchasing an additional 1,401 shares during the last quarter. 88.78% of the stock is currently owned by hedge funds and other institutional investors.
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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