NeoGenomics, Inc. (NASDAQ:NEO) has been given an average recommendation of “Buy” by the thirteen brokerages that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $19.50.
NEO has been the subject of several recent research reports. Zacks Investment Research cut NeoGenomics from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Needham & Company LLC reissued a “buy” rating and issued a $24.00 price target (up previously from $22.00) on shares of NeoGenomics in a research note on Wednesday, May 1st. BidaskClub raised NeoGenomics from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 30th. Finally, CIBC raised NeoGenomics from a “neutral” rating to an “outperform” rating and lowered their price target for the company from $18.00 to $15.00 in a research note on Tuesday, March 12th.
In other NeoGenomics news, insider Robert J. Shovlin sold 186,014 shares of the company’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $18.96, for a total transaction of $3,526,825.44. Following the completion of the sale, the insider now owns 40,166 shares of the company’s stock, valued at $761,547.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Raymond R. Hipp sold 150,000 shares of the company’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 value of $3,361,500.00. Following the sale, the director now directly owns 256,059 shares of the company’s stock, valued at approximately $5,738,282.19. The disclosure for this sale can be found here. Insiders have sold 602,400 shares of company stock valued at $12,693,858 in the last ninety days. Company insiders own 12.20% of the company’s stock.
Several hedge funds have recently modified their holdings of NEO. Ruggie Capital Group lifted its holdings in shares of 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 buying an additional 1,000 shares during the last quarter. CWM LLC acquired a new position in shares of NeoGenomics during the fourth quarter worth approximately $30,000. First Quadrant L P CA acquired a new position in shares of NeoGenomics during the fourth quarter worth approximately $65,000. Advisor Group Inc. lifted its holdings in shares of NeoGenomics by 138.4% during the first quarter. Advisor Group Inc. now owns 3,399 shares of the medical research company’s stock worth $69,000 after buying an additional 1,973 shares during the last quarter. Finally, Quantamental Technologies LLC acquired a new position in shares of NeoGenomics during the fourth quarter worth approximately $76,000. Institutional investors own 82.84% of the company’s stock.
NASDAQ:NEO traded down $0.72 on Thursday, hitting $21.08. 62,289 shares of the company’s stock traded hands, compared to its average volume of 789,569. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.59 and a quick ratio of 1.46. NeoGenomics has a 1 year low of $11.05 and a 1 year high of $23.85. The stock has a market cap of $2.09 billion, a PE ratio of 163.58 and a beta of 0.91.
NeoGenomics (NASDAQ:NEO) last released its earnings results on Tuesday, April 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 positive return on equity of 3.07% and a negative net margin of 0.14%. The company had revenue of $95.60 million for the quarter, compared to analysts’ expectations of $89.71 million. During the same quarter in the previous year, the business posted $0.04 EPS. The business’s revenue for the quarter was up 50.8% on a year-over-year basis. On average, equities research analysts anticipate that NeoGenomics will post 0.19 earnings per share for the current year.
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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