Shares of NeoGenomics, Inc. (NASDAQ:NEO) have received an average rating of “Buy” from the thirteen research firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $19.50.
NEO has been the subject of a number of research analyst reports. BidaskClub upgraded NeoGenomics from a “hold” rating to a “buy” rating in a report on Tuesday, January 29th. Zacks Investment Research cut NeoGenomics from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. CIBC upgraded NeoGenomics from a “neutral” rating to an “outperform” rating and lowered their target price for the company from $18.00 to $15.00 in a report on Tuesday, March 12th. Finally, Needham & Company LLC raised their target price on NeoGenomics from $19.00 to $22.00 and gave the company a “buy” rating in a report on Friday, March 29th.
NeoGenomics stock traded down $0.58 during midday trading on Thursday, reaching $22.99. 468,010 shares of the stock traded hands, compared to its average volume of 730,699. NeoGenomics has a 12-month low of $11.05 and a 12-month high of $23.85. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 176.85 and a beta of 0.91. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.59 and a quick ratio of 1.46.
In related news, Director Raymond R. Hipp sold 18,889 shares of the business’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $18.90, for a total transaction of $357,002.10. Following the completion of the sale, the director now owns 297,580 shares in the company, valued at $5,624,262. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider George Cardoza sold 151,676 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $22.82, for a total value of $3,461,246.32. Following the sale, the insider now owns 452,507 shares of the company’s stock, valued at approximately $10,326,209.74. The disclosure for this sale can be found here. Insiders sold a total of 602,400 shares of company stock valued at $12,693,858 in the last quarter. Company insiders own 12.20% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Zebra Capital Management LLC lifted its stake in NeoGenomics by 4.3% during the first quarter. Zebra Capital Management LLC now owns 19,667 shares of the medical research company’s stock worth $402,000 after purchasing an additional 816 shares during the last quarter. Howland Capital Management LLC lifted its stake in NeoGenomics by 2.9% during the fourth quarter. Howland Capital Management LLC now owns 31,337 shares of the medical research company’s stock worth $395,000 after purchasing an additional 888 shares during the last quarter. Legal & General Group Plc lifted its stake in NeoGenomics by 10.0% during the third quarter. Legal & General Group Plc now owns 10,559 shares of the medical research company’s stock worth $162,000 after purchasing an additional 963 shares during the last quarter. Ruggie Capital Group lifted its stake in NeoGenomics by 74.1% during the fourth quarter. Ruggie Capital Group now owns 2,350 shares of the medical research company’s stock worth $30,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Suntrust Banks Inc. lifted its stake in NeoGenomics by 2.6% during the fourth quarter. Suntrust Banks Inc. now owns 39,959 shares of the medical research company’s stock worth $504,000 after purchasing an additional 1,028 shares during the last quarter. Hedge funds and other institutional investors own 76.36% of the company’s stock.
NeoGenomics Company Profile
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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