Several other analysts have also recently commented on NEO. Zacks Investment Research cut shares of NeoGenomics from a “buy” rating to a “hold” rating in a research note on Saturday, March 2nd. CIBC upgraded shares of NeoGenomics from a “neutral” rating to an “outperform” rating and dropped their target price for the company from $18.00 to $15.00 in a report on Tuesday, March 12th. Finally, Needham & Company LLC raised their target price on shares of NeoGenomics from $19.00 to $22.00 and gave the company a “buy” rating in a report on Friday, March 29th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. NeoGenomics has a consensus rating of “Buy” and an average price target of $20.50.
Shares of NASDAQ NEO opened at $22.58 on Monday. 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 52 week low of $11.05 and a 52 week high of $24.84. The company has a 50-day moving average of $22.60. The firm has a market capitalization of $2.16 billion, a PE ratio of 173.69 and a beta of 0.83.
NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings data on Tuesday, April 30th. The medical research company reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.03. NeoGenomics had a negative net margin of 0.14% and a positive return on equity of 3.07%. The firm had revenue of $95.60 million during the quarter, compared to analysts’ expectations of $89.71 million. During the same quarter last year, the business earned $0.04 earnings per share. The business’s revenue for the quarter was up 50.8% compared to the same quarter last year. Research analysts forecast that NeoGenomics will post 0.18 earnings per share for the current fiscal year.
In related news, insider William Bonello sold 7,200 shares of the business’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 completion of the sale, the insider now directly owns 13,935 shares in the company, valued at $327,890.55. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Raymond R. Hipp sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $22.41, for a total transaction of $3,361,500.00. Following the completion of the sale, the director now owns 256,059 shares of the company’s stock, valued at $5,738,282.19. The disclosure for this sale can be found here. Insiders have sold a total of 338,876 shares of company stock valued at $7,674,362 over the last 90 days. 8.80% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in NEO. Bessemer Group Inc. purchased a new stake in NeoGenomics in the fourth quarter valued at approximately $78,000. Bank of Montreal Can grew its holdings in NeoGenomics by 1,355.9% in the fourth quarter. Bank of Montreal Can now owns 6,377 shares of the medical research company’s stock valued at $80,000 after purchasing an additional 5,939 shares during the period. Amundi Pioneer Asset Management Inc. purchased a new stake in NeoGenomics in the fourth quarter valued at approximately $103,000. Great West Life Assurance Co. Can grew its holdings in NeoGenomics by 53.9% in the fourth quarter. Great West Life Assurance Co. Can now owns 9,851 shares of the medical research company’s stock valued at $120,000 after purchasing an additional 3,451 shares during the period. Finally, Oregon Public Employees Retirement Fund purchased a new stake in NeoGenomics in the first quarter valued at approximately $132,000. Hedge funds and other institutional investors own 84.23% of the company’s stock.
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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