NeoGenomics (NASDAQ:NEO) Lowered to “Hold” at ValuEngine

ValuEngine lowered shares of NeoGenomics (NASDAQ:NEO) from a buy rating to a hold rating in a research note released on Tuesday morning, ValuEngine reports.

Several other equities analysts have also recently weighed in on NEO. Needham & Company LLC increased their price target on NeoGenomics from $27.00 to $29.00 and gave the company a buy rating in a report on Wednesday, October 30th. BidaskClub upgraded NeoGenomics from a sell rating to a hold rating in a research note on Friday, November 15th. Zacks Investment Research raised NeoGenomics from a sell rating to a hold rating in a report on Tuesday, November 5th. Finally, William Blair reiterated an outperform rating on shares of NeoGenomics in a research report on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $25.00.

NEO opened at $25.57 on Tuesday. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 196.69 and a beta of 1.04. The firm has a 50 day moving average price of $22.86 and a 200-day moving average price of $22.86. NeoGenomics has a twelve month low of $11.05 and a twelve month high of $26.89. The company has a quick ratio of 4.05, a current ratio of 4.24 and a debt-to-equity ratio of 0.24.

NeoGenomics (NASDAQ:NEO) last issued its earnings results on Tuesday, October 29th. The medical research company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.01. NeoGenomics had a net margin of 0.55% and a return on equity of 4.60%. The company had revenue of $104.70 million for the quarter, compared to analysts’ expectations of $99.38 million. During the same quarter last year, the company posted $0.05 earnings per share. The firm’s quarterly revenue was up 51.5% on a year-over-year basis. As a group, analysts expect that NeoGenomics will post 0.19 earnings per share for the current year.

In other NeoGenomics news, Director Steven C. Jones sold 1,691 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $25.00, for a total transaction of $42,275.00. Following the completion of the sale, the director now owns 245,234 shares of the company’s stock, valued at $6,130,850. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert J. Shovlin sold 70,473 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $23.11, for a total value of $1,628,631.03. Following the completion of the sale, the insider now owns 251,914 shares of the company’s stock, valued at approximately $5,821,732.54. The disclosure for this sale can be found here. Insiders have sold 465,568 shares of company stock valued at $11,091,307 over the last 90 days. 8.80% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of NEO. LPL Financial LLC lifted its holdings in NeoGenomics by 2.4% during the second quarter. LPL Financial LLC now owns 19,250 shares of the medical research company’s stock valued at $422,000 after purchasing an additional 455 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its position in shares of NeoGenomics by 1.6% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 30,870 shares of the medical research company’s stock valued at $590,000 after purchasing an additional 490 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of NeoGenomics by 14.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,778 shares of the medical research company’s stock valued at $110,000 after buying an additional 739 shares in the last quarter. Yorktown Management & Research Co Inc lifted its stake in shares of NeoGenomics by 4.6% during the 2nd quarter. Yorktown Management & Research Co Inc now owns 18,300 shares of the medical research company’s stock valued at $402,000 after buying an additional 800 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in NeoGenomics by 3.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 25,647 shares of the medical research company’s stock worth $562,000 after buying an additional 945 shares during the period. 83.49% of the stock is currently owned by hedge funds and other 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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