NeoGenomics, Inc. (NASDAQ:NEO) was downgraded by research analysts at BTIG Research from a “buy” rating to a “neutral” rating in a report released on Monday.
Several other research firms also recently weighed in on NEO. BidaskClub upgraded shares of NeoGenomics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 2nd. Zacks Investment Research upgraded shares of NeoGenomics from a “sell” rating to a “hold” rating in a research note on Saturday, July 29th. ValuEngine upgraded shares of NeoGenomics from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. Gabelli began coverage on shares of NeoGenomics in a research note on Thursday, August 24th. They issued a “buy” rating and a $9.00 target price for the company. Finally, Cantor Fitzgerald set a $11.00 target price on shares of NeoGenomics and gave the stock a “buy” rating in a research note on Saturday, May 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $10.20.
Shares of NeoGenomics (NEO) opened at 10.10 on Monday. The company’s market cap is $801.82 million. The firm has a 50-day moving average of $9.58 and a 200-day moving average of $8.45. NeoGenomics has a 12-month low of $6.90 and a 12-month high of $11.63.
NeoGenomics (NASDAQ:NEO) last posted its earnings results on Tuesday, July 25th. The medical research company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.03. The firm had revenue of $66.09 million during the quarter, compared to the consensus estimate of $62.95 million. NeoGenomics had a negative net margin of 2.81% and a positive return on equity of 6.09%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company earned $0.04 earnings per share. Analysts predict that NeoGenomics will post $0.18 EPS for the current year.
In other news, VP Jennifer Balliet sold 10,723 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $8.49, for a total value of $91,038.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alison L. Hannah acquired 20,000 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was purchased at an average price of $9.19 per share, with a total value of $183,800.00. Following the completion of the transaction, the director now directly owns 38,782 shares of the company’s stock, valued at approximately $356,406.58. The disclosure for this purchase can be found here. 12.20% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in NEO. Cambridge Investment Research Advisors Inc. lifted its position in NeoGenomics by 7.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,600 shares of the medical research company’s stock valued at $107,000 after purchasing an additional 1,000 shares during the last quarter. Wrapmanager Inc. bought a new stake in NeoGenomics during the second quarter valued at approximately $109,000. Campbell & CO Investment Adviser LLC lifted its position in NeoGenomics by 10.4% during the first quarter. Campbell & CO Investment Adviser LLC now owns 15,009 shares of the medical research company’s stock valued at $118,000 after purchasing an additional 1,419 shares during the last quarter. KCG Holdings Inc. bought a new stake in NeoGenomics during the first quarter valued at approximately $118,000. Finally, OLD National Bancorp IN bought a new stake in NeoGenomics during the second quarter valued at approximately $141,000. Institutional investors own 80.81% of the company’s stock.
NeoGenomics, Inc is an operator of a network of cancer-focused genetic testing laboratories. The Company operates in Laboratory Testing Segment. This segment delivers testing services to hospitals, pathologists, oncologists, other clinicians and researchers. It has laboratory locations in Ft. Myers and Tampa, Florida; Aliso Viejo, Fresno, Irvine, and West Sacramento, California; Houston, Texas and Nashville, and Tennessee.
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