NeoGenomics (NASDAQ:NEO) Lifted to “Buy” at ValuEngine
Several other research firms also recently commented on NEO. Benchmark raised their price objective on NeoGenomics from $35.00 to $40.00 and gave the stock a buy rating in a report on Wednesday, July 29th. Craig Hallum lifted their price objective on NeoGenomics from $36.00 to $42.00 and gave the company a buy rating in a report on Wednesday, July 29th. BidaskClub raised shares of NeoGenomics from a buy rating to a strong-buy rating in a research note on Friday, October 9th. Morgan Stanley began coverage on shares of NeoGenomics in a research report on Wednesday, September 9th. They set an overweight rating and a $46.00 target price on the stock. Finally, Needham & Company LLC upped their price target on shares of NeoGenomics from $33.00 to $39.00 and gave the stock a buy rating in a research report on Wednesday, July 29th. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $37.50.
NEO stock opened at $43.27 on Monday. NeoGenomics has a 12 month low of $19.43 and a 12 month high of $44.22. The firm’s 50-day moving average is $37.02 and its 200 day moving average is $32.66. The company has a market capitalization of $4.78 billion, a PE ratio of -865.40 and a beta of 0.80. The company has a debt-to-equity ratio of 0.25, a current ratio of 6.79 and a quick ratio of 6.44.
NeoGenomics (NASDAQ:NEO) last issued its earnings results on Tuesday, July 28th. The medical research company reported ($0.04) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.06. NeoGenomics had a negative net margin of 1.33% and a positive return on equity of 0.73%. The business had revenue of $86.90 million for the quarter, compared to the consensus estimate of $86.55 million. During the same period in the prior year, the firm earned $0.07 EPS. The company’s revenue for the quarter was down 14.6% compared to the same quarter last year. Sell-side analysts forecast that NeoGenomics will post -0.01 EPS for the current fiscal year.
In other NeoGenomics news, Director Steven C. Jones sold 10,426 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $36.13, for a total value of $376,691.38. Following the completion of the sale, the director now owns 197,932 shares of the company’s stock, valued at $7,151,283.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Robert J. Shovlin sold 81,356 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $38.17, for a total value of $3,105,358.52. Following the sale, the insider now owns 212,902 shares in the company, valued at approximately $8,126,469.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 538,006 shares of company stock valued at $20,157,671. 6.50% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in NEO. JPMorgan Chase & Co. lifted its stake in shares of NeoGenomics by 29.7% during the first quarter. JPMorgan Chase & Co. now owns 91,812 shares of the medical research company’s stock worth $2,535,000 after buying an additional 21,001 shares during the period. Alliancebernstein L.P. boosted its holdings in NeoGenomics by 6.7% in the first quarter. Alliancebernstein L.P. now owns 155,850 shares of the medical research company’s stock valued at $4,303,000 after purchasing an additional 9,850 shares during the last quarter. Deutsche Bank AG grew its position in NeoGenomics by 107.5% during the 1st quarter. Deutsche Bank AG now owns 277,386 shares of the medical research company’s stock worth $7,659,000 after purchasing an additional 143,704 shares during the period. Legal & General Group Plc raised its stake in shares of NeoGenomics by 9.5% during the 1st quarter. Legal & General Group Plc now owns 320,787 shares of the medical research company’s stock valued at $8,867,000 after buying an additional 27,730 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of NeoGenomics by 123.3% in the 1st quarter. Wellington Management Group LLP now owns 50,682 shares of the medical research company’s stock valued at $1,400,000 after buying an additional 27,986 shares during the period. Institutional investors own 91.67% of the company’s stock.
NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States, as well as 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.
See Also: Dow Jones Industrial Average (DJIA)
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