BidaskClub Lowers NeoGenomics (NEO) to Buy

BidaskClub cut shares of NeoGenomics (NASDAQ:NEO) from a strong-buy rating to a buy rating in a report issued on Thursday, BidAskClub reports.

A number of other equities research analysts have also recently commented on NEO. Zacks Investment Research raised shares of NeoGenomics from a hold rating to a buy rating and set a $22.00 target price for the company in a report on Tuesday, March 5th. Needham & Company LLC upped 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. ValuEngine raised shares of NeoGenomics from a buy rating to a strong-buy rating in a report on Thursday, January 10th. Finally, CIBC raised shares of NeoGenomics from a neutral rating to an outperform rating and reduced their target price for the company from $18.00 to $15.00 in a report on Tuesday, March 12th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $19.55.

Shares of NEO opened at $19.66 on Thursday. NeoGenomics has a 1-year low of $9.08 and a 1-year high of $22.17. The firm has a market capitalization of $1.86 billion, a P/E ratio of 151.23 and a beta of 0.93. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.70 and a quick ratio of 1.56.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings results on Tuesday, February 19th. The medical research company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. NeoGenomics had a net margin of 0.95% and a return on equity of 2.25%. The firm had revenue of $76.50 million during the quarter, compared to analysts’ expectations of $71.29 million. During the same period in the previous year, the company earned $0.05 earnings per share. NeoGenomics’s quarterly revenue was up 24.6% compared to the same quarter last year. As a group, sell-side analysts predict that NeoGenomics will post 0.18 earnings per share for the current fiscal year.

In related news, VP Jennifer Balliet sold 14,000 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $19.09, for a total transaction of $267,260.00. Following the completion of the transaction, the vice president now directly owns 40,000 shares of the company’s stock, valued at $763,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Raymond R. Hipp sold 18,889 shares of the stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $18.90, for a total transaction of $357,002.10. Following the transaction, the director now directly owns 297,580 shares of the company’s stock, valued at $5,624,262. The disclosure for this sale can be found here. Insiders have sold 263,524 shares of company stock valued at $5,019,496 over the last three months. 12.20% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its position in NeoGenomics by 8.7% during the fourth quarter. BlackRock Inc. now owns 5,519,647 shares of the medical research company’s stock worth $69,603,000 after buying an additional 440,621 shares during the period. Vanguard Group Inc grew its position in NeoGenomics by 24.0% during the third quarter. Vanguard Group Inc now owns 3,839,641 shares of the medical research company’s stock worth $58,939,000 after buying an additional 743,245 shares during the period. Vanguard Group Inc. grew its position in NeoGenomics by 24.0% during the third quarter. Vanguard Group Inc. now owns 3,839,641 shares of the medical research company’s stock worth $58,939,000 after buying an additional 743,245 shares during the period. Brown Advisory Inc. grew its position in NeoGenomics by 66.2% during the fourth quarter. Brown Advisory Inc. now owns 2,441,468 shares of the medical research company’s stock worth $30,787,000 after buying an additional 972,288 shares during the period. Finally, Eagle Asset Management Inc. grew its position in NeoGenomics by 5.4% during the fourth quarter. Eagle Asset Management Inc. now owns 2,274,143 shares of the medical research company’s stock worth $28,676,000 after buying an additional 116,717 shares during the period. 77.00% of the stock is 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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Analyst Recommendations for NeoGenomics (NASDAQ:NEO)

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