NeoGenomics (NASDAQ:NEO) Stock Rating Lowered by Zacks Investment Research
According to Zacks, “NeoGenomics, Inc. is a high-complexity CLIA-certified clinical laboratory that specializes in cancer genetics diagnostic testing, the fastest growing segment of the laboratory industry. The company’s testing services include cytogenetics, fluorescence in-situ hybridization, flow cytometry, morphology studies, anatomic pathology and molecular genetic testing. Headquartered in Fort Myers, FL, NeoGenomics has labs in Nashville, TN, Irvine, CA and Fort Myers and services the needs of pathologists, oncologists, urologists, hospitals and other reference laboratories throughout the United States. “
A number of other brokerages have also issued reports on NEO. Raymond James reaffirmed a market perform rating on shares of NeoGenomics in a research report on Wednesday, March 3rd. SVB Leerink increased their price target on shares of NeoGenomics from $50.00 to $60.00 and gave the stock an outperform rating in a research report on Friday, January 8th. Craig Hallum upped their price objective on NeoGenomics from $50.00 to $65.00 and gave the company a buy rating in a research note on Thursday, February 25th. Needham & Company LLC reaffirmed a buy rating and issued a $65.00 target price on shares of NeoGenomics in a research report on Friday, April 16th. Finally, Truist assumed coverage on shares of NeoGenomics in a research report on Wednesday, January 27th. They set a buy rating and a $65.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $50.05.
NEO stock opened at $48.99 on Wednesday. The stock has a 50-day simple moving average of $48.89 and a 200-day simple moving average of $49.41. The firm has a market cap of $5.73 billion, a P/E ratio of -1,632.46 and a beta of 0.79. The company has a debt-to-equity ratio of 0.25, a quick ratio of 6.22 and a current ratio of 6.54. NeoGenomics has a 1 year low of $25.19 and a 1 year high of $61.57.
NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Wednesday, February 24th. The medical research company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.08. The company had revenue of $126.00 million for the quarter, compared to analyst estimates of $123.45 million. NeoGenomics had a negative net margin of 1.16% and a positive return on equity of 0.71%. The business’s quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.06 earnings per share. On average, equities research analysts predict that NeoGenomics will post -0.01 EPS for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System grew its holdings in shares of NeoGenomics by 0.5% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 36,730 shares of the medical research company’s stock valued at $1,978,000 after buying an additional 200 shares in the last quarter. Amalgamated Bank increased its stake in shares of NeoGenomics by 2.1% in the fourth quarter. Amalgamated Bank now owns 17,348 shares of the medical research company’s stock worth $934,000 after acquiring an additional 356 shares during the last quarter. Avitas Wealth Management LLC raised its holdings in NeoGenomics by 3.3% during the fourth quarter. Avitas Wealth Management LLC now owns 12,575 shares of the medical research company’s stock valued at $677,000 after buying an additional 398 shares in the last quarter. FineMark National Bank & Trust boosted its stake in shares of NeoGenomics by 1.7% during the 4th quarter. FineMark National Bank & Trust now owns 29,808 shares of the medical research company’s stock worth $1,605,000 after acquiring an additional 500 shares in the last quarter. Finally, Tygh Capital Management Inc. increased its holdings in shares of NeoGenomics by 0.7% during the 4th quarter. Tygh Capital Management Inc. now owns 85,176 shares of the medical research company’s stock valued at $4,586,000 after acquiring an additional 568 shares during the last quarter. Institutional investors own 91.06% of the company’s stock.
About NeoGenomics
NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States, Europe, and Asia. It operates in two segments, Clinical Services and Pharma Services. The company offers testing services to hospitals, reference labs, pathologists, oncologists, clinicians, pharmaceutical firms, and researchers It provides cytogenetics testing services to study normal and abnormal chromosomes and their relationship to diseases; fluorescence in-situ hybridization testing services that focus on detecting and locating the presence or absence of specific DNA sequences and genes on chromosomes; flow cytometry testing services to measure the characteristics of cell populations; and immunohistochemistry and digital imaging testing services to localize cellular proteins in tissue section, as well as to allow clients to visualize scanned slides, and perform quantitative analysis for various stains.
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