NeoGenomics (NEO) Rating Lowered to Buy at ValuEngine

NeoGenomics (NASDAQ:NEO) was downgraded by research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a report issued on Thursday.

NEO has been the subject of a number of other research reports. Raymond James restated a “buy” rating and set a $24.00 price target on shares of NeoGenomics in a research note on Tuesday. BidaskClub cut shares of NeoGenomics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Scotiabank restated an “average” rating and set a $24.00 price target on shares of NeoGenomics in a research note on Friday, November 16th. Zacks Investment Research upgraded shares of NeoGenomics from a “hold” rating to a “strong-buy” rating and set a $21.00 price target for the company in a research note on Saturday, November 3rd. Finally, Benchmark set a $22.00 price target on shares of NeoGenomics and gave the stock a “buy” rating in a research note on Thursday, November 1st. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. NeoGenomics presently has a consensus rating of “Buy” and an average price target of $20.33.

Shares of NASDAQ NEO traded down $1.04 during mid-day trading on Thursday, hitting $14.78. The company had a trading volume of 1,125,582 shares, compared to its average volume of 537,765. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.98 and a current ratio of 4.13. NeoGenomics has a 12 month low of $7.08 and a 12 month high of $19.04. The stock has a market cap of $1.47 billion, a PE ratio of 246.33 and a beta of -0.01.

NeoGenomics (NASDAQ:NEO) last released its earnings results on Tuesday, October 30th. The medical research company reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.03. NeoGenomics had a net margin of 1.70% and a return on equity of 2.63%. The business had revenue of $69.10 million during the quarter, compared to analysts’ expectations of $66.13 million. During the same quarter last year, the company earned $0.01 earnings per share. The firm’s revenue was up 16.8% on a year-over-year basis. Research analysts forecast that NeoGenomics will post 0.11 earnings per share for the current fiscal year.

In other news, Director Lynn A. Tetrault sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $16.16, for a total transaction of $80,800.00. Following the completion of the sale, the director now owns 47,346 shares of the company’s stock, valued at $765,111.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Electric Co General sold 4,164,855 shares of the firm’s stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $16.75, for a total transaction of $69,761,321.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,994,643 shares of company stock valued at $83,771,998. Company insiders own 12.20% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of NEO. Cornerstone Wealth Management LLC acquired a new stake in shares of NeoGenomics during the second quarter worth approximately $528,000. Jennison Associates LLC increased its holdings in shares of NeoGenomics by 18.7% in the second quarter. Jennison Associates LLC now owns 43,736 shares of the medical research company’s stock valued at $573,000 after purchasing an additional 6,888 shares in the last quarter. Sei Investments Co. increased its holdings in shares of NeoGenomics by 18.4% in the second quarter. Sei Investments Co. now owns 58,141 shares of the medical research company’s stock valued at $762,000 after purchasing an additional 9,026 shares in the last quarter. EAM Investors LLC acquired a new stake in shares of NeoGenomics in the second quarter valued at approximately $1,142,000. Finally, EAM Global Investors LLC acquired a new stake in shares of NeoGenomics in the second quarter valued at approximately $1,441,000. 83.61% 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. It operates through Clinical Services and Pharma Services segments. The company laboratories provide genetic and molecular testing services to hospitals, pathologists, oncologists, urologists, other clinicians and researchers, pharmaceutical firms, and other clinical laboratories.

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Analyst Recommendations for NeoGenomics (NASDAQ:NEO)

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