NeoGenomics (NASDAQ:NEO) Rating Lowered to Hold at Benchmark

Erica Schwartz 2022-08-26 11:08

NeoGenomics logo NeoGenomics (NASDAQ:NEO – Get Rating) was downgraded by equities research analysts at Benchmark from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, The Fly reports.

Other research analysts also recently issued research reports about the stock. StockNews.com upgraded shares of NeoGenomics to a “sell” rating in a research report on Saturday, August 13th. Morgan Stanley reduced their price target on shares of NeoGenomics from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 10th. Cowen upped their price target on shares of NeoGenomics to $18.00 in a research report on Monday, August 15th. BTIG Research downgraded shares of NeoGenomics to a “neutral” rating in a research report on Monday, August 15th. Finally, The Goldman Sachs Group upped their target price on shares of NeoGenomics from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $20.08.

NeoGenomics Stock Up 4.6 %

NEO opened at $11.59 on Friday. The firm’s 50-day simple moving average is $9.68 and its 200-day simple moving average is $12.14. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of -9.74 and a beta of 0.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 7.26 and a current ratio of 7.53. NeoGenomics has a twelve month low of $6.85 and a twelve month high of $54.74.

NeoGenomics (NASDAQ:NEO – Get Rating) last issued its quarterly earnings results on Tuesday, August 9th. The medical research company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.06. The business had revenue of $125.00 million for the quarter, compared to the consensus estimate of $123.26 million. NeoGenomics had a negative net margin of 30.00% and a negative return on equity of 8.53%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.04) EPS. Equities research analysts anticipate that NeoGenomics will post -1.04 EPS for the current fiscal year.

Institutional Trading of NeoGenomics

Hedge funds have recently modified their holdings of the company. OLD Mission Capital LLC acquired a new stake in shares of NeoGenomics in the 4th quarter valued at approximately $675,000. Swiss National Bank increased its stake in NeoGenomics by 3.7% during the 4th quarter. Swiss National Bank now owns 256,800 shares of the medical research company’s stock worth $8,762,000 after purchasing an additional 9,200 shares in the last quarter. RMB Capital Management LLC increased its stake in NeoGenomics by 21.8% during the 1st quarter. RMB Capital Management LLC now owns 305,805 shares of the medical research company’s stock worth $3,716,000 after purchasing an additional 54,661 shares in the last quarter. Candriam Luxembourg S.C.A. increased its stake in NeoGenomics by 3.1% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 268,194 shares of the medical research company’s stock worth $9,151,000 after purchasing an additional 8,074 shares in the last quarter. Finally, Veriti Management LLC increased its stake in NeoGenomics by 53.2% during the 1st quarter. Veriti Management LLC now owns 11,174 shares of the medical research company’s stock worth $136,000 after purchasing an additional 3,881 shares in the last quarter. 95.03% of the stock is currently owned by institutional investors and hedge funds.

About NeoGenomics

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NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States, Europe, and Asia. It operates through, Clinical Services and Pharma Services segments. The company offers testing services to hospitals, reference labs, pathologists, oncologists, clinicians, pharmaceutical firms, and researchers.

NeoGenomics (NASDAQ:NEO) Rating Lowered to Hold at Benchmark

NeoGenomics Stock Up 4.6 %

Institutional Trading of NeoGenomics

About NeoGenomics

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