NeoGenomics (NASDAQ:NEO) Rating Lowered to Hold at BidaskClub

BidaskClub lowered shares of NeoGenomics (NASDAQ:NEO) from a buy rating to a hold rating in a report issued on Saturday morning, BidAskClub reports.

A number of other research firms also recently issued reports on NEO. Zacks Investment Research downgraded shares of GENEL ENERGY PL/ADR from a buy rating to a hold rating in a research report on Tuesday, May 7th. Needham & Company LLC reiterated a buy rating and set a $10.00 price target (down from $15.00) on shares of Nabriva Therapeutics in a research report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $21.11.

NEO stock opened at $23.21 on Friday. The firm’s 50 day moving average is $22.66. NeoGenomics has a 12-month low of $11.05 and a 12-month high of $24.84. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.46 and a current ratio of 1.59. The firm has a market cap of $2.12 billion, a P/E ratio of 178.54 and a beta of 0.78.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Tuesday, April 30th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $95.60 million during the quarter, compared to the consensus estimate of $89.71 million. During the same period last year, the firm earned $0.04 EPS. The company’s revenue for the quarter was up 50.8% on a year-over-year basis. As a group, equities research analysts expect that NeoGenomics will post 0.18 earnings per share for the current year.

In related news, insider George Cardoza sold 151,676 shares of NeoGenomics stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $22.82, for a total transaction of $3,461,246.32. Following the completion of the transaction, the insider now directly owns 452,507 shares in the company, valued at approximately $10,326,209.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Raymond R. Hipp sold 150,000 shares of NeoGenomics 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 transaction, 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. Insiders own 8.80% of the company’s stock.

Several institutional investors have recently modified their holdings of NEO. NEXT Financial Group Inc grew its stake in NeoGenomics by 200.0% in the 2nd quarter. NEXT Financial Group Inc now owns 2,700 shares of the medical research company’s stock worth $59,000 after acquiring an additional 1,800 shares during the period. Bessemer Group Inc. purchased a new stake in NeoGenomics in the 4th quarter worth approximately $78,000. Amundi Pioneer Asset Management Inc. purchased a new stake in NeoGenomics in the 4th quarter worth approximately $103,000. Great West Life Assurance Co. Can grew its stake in NeoGenomics by 53.9% in the 4th quarter. Great West Life Assurance Co. Can now owns 9,851 shares of the medical research company’s stock worth $120,000 after acquiring an additional 3,451 shares during the period. Finally, Oregon Public Employees Retirement Fund purchased a new stake in NeoGenomics in the 1st quarter worth approximately $132,000. Hedge funds and other institutional investors own 84.10% of the company’s stock.

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.

See Also: What defines an oversold asset?

Analyst Recommendations for NeoGenomics (NASDAQ:NEO)

Receive News & Ratings for NeoGenomics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NeoGenomics and related companies with MarketBeat.com's FREE daily email newsletter.