NeoGenomics (NASDAQ:NEO) had its price objective upped by Raymond James from $23.00 to $27.00 in a research report released on Wednesday, BenzingaRatingsTable reports. Raymond James currently has an outperform rating on the medical research company’s stock.
A number of other analysts have also commented on the stock. BidaskClub upgraded shares of NeoGenomics from a hold rating to a buy rating in a research note on Friday, July 19th. Zacks Investment Research lowered shares of NeoGenomics from a buy rating to a hold rating in a research note on Thursday, July 25th. Finally, Needham & Company LLC reiterated a buy rating and issued a $24.00 price target (up from $22.00) on shares of NeoGenomics in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $23.78.
NASDAQ:NEO traded down $0.43 on Wednesday, reaching $25.42. 1,383,441 shares of the stock traded hands, compared to its average volume of 693,565. The firm has a market capitalization of $2.33 billion, a P/E ratio of 195.54 and a beta of 0.96. The company has a quick ratio of 1.46, a current ratio of 4.67 and a debt-to-equity ratio of 0.25. NeoGenomics has a 12 month low of $11.05 and a 12 month high of $26.14. The stock’s fifty day moving average is $23.16.
In related news, insider William Bonello sold 7,200 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $23.53, for a total value of $169,416.00. Following the transaction, the insider now owns 13,935 shares of the company’s stock, valued at $327,890.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Raymond R. Hipp sold 150,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $22.41, for a total transaction of $3,361,500.00. Following the completion of the transaction, the director now directly owns 256,059 shares in the company, valued at approximately $5,738,282.19. The disclosure for this sale can be found here. Insiders own 8.80% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of NEO. BlackRock Inc. lifted its holdings in NeoGenomics by 150.5% during the first quarter. BlackRock Inc. now owns 13,825,064 shares of the medical research company’s stock valued at $282,861,000 after purchasing an additional 8,305,417 shares in the last quarter. Eagle Asset Management Inc. lifted its holdings in NeoGenomics by 19.0% during the first quarter. Eagle Asset Management Inc. now owns 2,705,536 shares of the medical research company’s stock valued at $55,355,000 after purchasing an additional 431,393 shares in the last quarter. Emerald Advisers LLC lifted its holdings in NeoGenomics by 3.8% during the second quarter. Emerald Advisers LLC now owns 1,951,061 shares of the medical research company’s stock valued at $42,806,000 after purchasing an additional 72,160 shares in the last quarter. Emerald Mutual Fund Advisers Trust lifted its holdings in NeoGenomics by 2.3% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 1,875,759 shares of the medical research company’s stock valued at $38,378,000 after purchasing an additional 41,390 shares in the last quarter. Finally, Granite Investment Partners LLC lifted its holdings in NeoGenomics by 14.4% during the first quarter. Granite Investment Partners LLC now owns 1,764,090 shares of the medical research company’s stock valued at $36,093,000 after purchasing an additional 221,850 shares in the last quarter. 84.07% of the stock is currently owned by institutional investors.
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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