ValuEngine Lowers NeoGenomics (NASDAQ:NEO) to Buy

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

NEO has been the topic of several other reports. Raymond James upped their target price on NeoGenomics from $23.00 to $27.00 and gave the stock an outperform rating in a research report on Wednesday. Zacks Investment Research lowered NeoGenomics from a buy rating to a hold rating in a research report on Thursday, July 25th. BidaskClub raised NeoGenomics from a hold rating to a buy rating in a research report on Friday, July 19th. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $24.00 target price (up from $22.00) on shares of NeoGenomics in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $23.78.

NASDAQ:NEO traded down $0.43 during trading hours on Thursday, hitting $25.42. 1,383,441 shares of the company’s stock traded hands, compared to its average volume of 773,596. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 195.54 and a beta of 0.96. NeoGenomics has a twelve month low of $11.05 and a twelve month high of $26.14. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.46 and a current ratio of 4.67. The stock has a fifty day moving average price of $23.16.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Tuesday, July 30th. The medical research company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.02. The firm had revenue of $101.71 million for the quarter, compared to analyst estimates of $97.32 million. NeoGenomics had a return on equity of 4.97% and a net margin of 0.57%. NeoGenomics’s quarterly revenue was up 50.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.05 earnings per share. As a group, research analysts predict that NeoGenomics will post 0.18 EPS for the current year.

In other news, Director Raymond R. Hipp sold 150,000 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $22.41, for a total transaction of $3,361,500.00. Following the transaction, the director now owns 256,059 shares of the company’s stock, valued at approximately $5,738,282.19. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider William Bonello sold 7,200 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $23.53, for a total value of $169,416.00. Following the transaction, the insider now directly owns 13,935 shares in the company, valued at approximately $327,890.55. The disclosure for this sale can be found here. Corporate insiders own 8.80% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of NEO. BlackRock Inc. increased its holdings in shares of NeoGenomics by 150.5% during the 1st quarter. BlackRock Inc. now owns 13,825,064 shares of the medical research company’s stock valued at $282,861,000 after acquiring an additional 8,305,417 shares during the last quarter. Millennium Management LLC boosted its stake in NeoGenomics by 6,511.7% during the 4th quarter. Millennium Management LLC now owns 770,201 shares of the medical research company’s stock valued at $9,712,000 after purchasing an additional 758,552 shares during the period. Eagle Asset Management Inc. boosted its stake in NeoGenomics by 19.0% during the 1st quarter. Eagle Asset Management Inc. now owns 2,705,536 shares of the medical research company’s stock valued at $55,355,000 after purchasing an additional 431,393 shares during the period. American Century Companies Inc. boosted its stake in NeoGenomics by 123.5% during the 4th quarter. American Century Companies Inc. now owns 687,775 shares of the medical research company’s stock valued at $8,673,000 after purchasing an additional 380,041 shares during the period. Finally, Granite Investment Partners LLC boosted its stake in NeoGenomics by 14.4% during the 1st quarter. Granite Investment Partners LLC now owns 1,764,090 shares of the medical research company’s stock valued at $36,093,000 after purchasing an additional 221,850 shares during the period. 84.07% of the stock is currently owned by institutional investors and hedge funds.

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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