NeoGenomics (NASDAQ:NEO) Upgraded at Zacks Investment Research
NeoGenomics (NASDAQ:NEO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, Zacks.com reports. The brokerage currently has a $26.00 price objective on the medical research company’s stock. Zacks Investment Research‘s price target points to a potential upside of 10.50% from the company’s current price.
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 research analysts also recently commented on the company. BidaskClub downgraded Westport Fuel Systems from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Needham & Company LLC restated a “buy” rating and issued a $10.00 target price (down previously from $15.00) on shares of Nabriva Therapeutics in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. NeoGenomics has an average rating of “Buy” and a consensus target price of $21.22.
Shares of NEO stock traded up $0.47 on Wednesday, reaching $23.53. 20,195 shares of the company’s stock traded hands, compared to its average volume of 685,133. NeoGenomics has a 12-month low of $11.05 and a 12-month high of $24.84. The company has a quick ratio of 1.46, a current ratio of 1.59 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $2.22 billion, a P/E ratio of 180.69 and a beta of 0.78. The company has a 50 day moving average of $22.99.
NeoGenomics (NASDAQ:NEO) last issued its earnings results on Tuesday, April 30th. The medical research company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. NeoGenomics had a positive return on equity of 3.07% and a negative net margin of 0.14%. The firm had revenue of $95.60 million for the quarter, compared to the consensus estimate of $89.71 million. During the same quarter in the previous year, the company posted $0.04 earnings per share. The business’s quarterly revenue was up 50.8% compared to the same quarter last year. On average, equities research analysts expect that NeoGenomics will post 0.18 EPS for the current year.
In other NeoGenomics news, Director Raymond R. Hipp sold 150,000 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $22.41, for a total value of $3,361,500.00. Following the completion of the sale, the director now owns 256,059 shares of the company’s stock, valued at $5,738,282.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider William Bonello sold 7,200 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $23.53, for a total value of $169,416.00. Following the completion of the sale, the insider now directly owns 13,935 shares of the company’s stock, valued at approximately $327,890.55. The disclosure for this sale can be found here. Insiders sold 338,876 shares of company stock worth $7,674,362 in the last 90 days. Corporate insiders own 8.80% of the company’s stock.
Large investors have recently made changes to their positions in the business. NEXT Financial Group Inc lifted its position in shares of NeoGenomics by 200.0% in the second quarter. NEXT Financial Group Inc now owns 2,700 shares of the medical research company’s stock worth $59,000 after buying an additional 1,800 shares during the last quarter. Winslow Evans & Crocker Inc. acquired a new stake in shares of NeoGenomics in the second quarter worth about $92,000. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of NeoGenomics in the fourth quarter worth about $103,000. Great West Life Assurance Co. Can lifted its position in shares of NeoGenomics by 53.9% in the fourth quarter. Great West Life Assurance Co. Can now owns 9,851 shares of the medical research company’s stock worth $120,000 after buying an additional 3,451 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund acquired a new stake in shares of NeoGenomics in the first quarter worth about $132,000. 84.08% of the stock is owned by 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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