NeoGenomics (NASDAQ:NEO) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of NeoGenomics (NASDAQ:NEO) from a buy rating to a hold rating in a report published on Saturday,Wall Street Zen reports.

A number of other analysts have also recently weighed in on the stock. TD Cowen raised their price objective on shares of NeoGenomics from $19.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NeoGenomics in a research report on Monday, October 12th. Craig Hallum reiterated a “buy” rating and set a $19.00 price target on shares of NeoGenomics in a research note on Wednesday, July 29th. Jefferies Financial Group restated a “buy” rating and issued a $21.00 price objective on shares of NeoGenomics in a research note on Thursday. Finally, Needham & Company LLC raised their price objective on NeoGenomics from $19.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, October 6th. Eight equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.88.

NeoGenomics Trading Down 5.1%

Shares of NEO stock opened at $16.49 on Friday. The company has a current ratio of 3.60, a quick ratio of 3.35 and a debt-to-equity ratio of 0.48. The firm has a fifty day moving average price of $17.67 and a 200 day moving average price of $12.84. NeoGenomics has a 12 month low of $7.07 and a 12 month high of $20.15.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings data on Wednesday, October 28th. The medical research company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. NeoGenomics had a negative return on equity of 0.98% and a negative net margin of 4.10%. The business had revenue of $209.25 million during the quarter, compared to analysts’ expectations of $206.70 million. During the same period in the prior year, the firm posted $0.03 EPS. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. As a group, sell-side analysts expect that NeoGenomics will post -0.09 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NEO. Root Financial Partners LLC acquired a new position in NeoGenomics in the third quarter valued at $29,000. Farther Finance Advisors LLC grew its stake in shares of NeoGenomics by 117.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,701 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 917 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of NeoGenomics by 30.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,782 shares of the medical research company’s stock valued at $51,000 after purchasing an additional 644 shares during the last quarter. Allworth Financial LP increased its holdings in shares of NeoGenomics by 110.4% in the second quarter. Allworth Financial LP now owns 4,132 shares of the medical research company’s stock valued at $60,000 after purchasing an additional 2,168 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of NeoGenomics in the second quarter valued at approximately $99,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

NeoGenomics Company Profile

NeoGenomics, Inc (NASDAQ: NEO) is a cancer-focused diagnostics company that provides laboratory testing and related services to oncologists, hospitals, academic institutions, and biopharmaceutical companies. Its diagnostic offerings support the detection, classification, and monitoring of cancer and help inform treatment decisions.

The company’s services include pathology, immunohistochemistry, flow cytometry, cytogenetics, molecular testing, and other specialized oncology assays. NeoGenomics also provides clinical trial and pharmaceutical services, including biomarker testing, central laboratory support, and companion diagnostic development for drug developers.

Founded in 1999, NeoGenomics has expanded through internal growth and acquisitions and operates a network of clinical laboratories serving customers primarily in the United States, with additional international capabilities.