NeoGenomics (NEO) Downgraded by BidaskClub to Sell

NeoGenomics (NASDAQ:NEO) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

Other analysts also recently issued reports about the stock. Janney Montgomery Scott reaffirmed a “buy” rating on shares of NeoGenomics in a research report on Thursday, October 26th. Zacks Investment Research raised shares of NeoGenomics from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. CIBC set a $19.00 target price on shares of NeoGenomics and gave the stock a “neutral” rating in a research report on Wednesday, January 3rd. Royal Bank of Canada set a $23.00 target price on shares of NeoGenomics and gave the stock an “outperform” rating in a research report on Wednesday, January 3rd. Finally, Scotiabank set a $22.00 target price on shares of NeoGenomics and gave the stock an “outperform” rating in a research report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. NeoGenomics presently has a consensus rating of “Hold” and a consensus price target of $15.83.

NeoGenomics (NASDAQ:NEO) traded down $0.01 during trading hours on Thursday, hitting $7.99. 1,090,000 shares of the stock were exchanged, compared to its average volume of 334,960. The stock has a market cap of $641.67, a P/E ratio of -22.83, a PEG ratio of 3.23 and a beta of 0.84. The company has a quick ratio of 1.99, a current ratio of 2.14 and a debt-to-equity ratio of 0.57. NeoGenomics has a 12-month low of $7.12 and a 12-month high of $11.63.

NeoGenomics (NASDAQ:NEO) last released its earnings results on Wednesday, October 25th. The medical research company reported $0.01 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.01. The firm had revenue of $63.05 million for the quarter, compared to the consensus estimate of $63.11 million. NeoGenomics had a negative net margin of 4.78% and a positive return on equity of 3.97%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.04 EPS. analysts expect that NeoGenomics will post 0.04 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Empirical Finance LLC purchased a new stake in NeoGenomics during the 3rd quarter valued at about $159,000. Campbell & CO Investment Adviser LLC grew its position in NeoGenomics by 64.0% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 21,544 shares of the medical research company’s stock valued at $240,000 after purchasing an additional 8,404 shares during the last quarter. OLD National Bancorp IN grew its position in NeoGenomics by 38.2% during the 3rd quarter. OLD National Bancorp IN now owns 21,714 shares of the medical research company’s stock valued at $242,000 after purchasing an additional 6,004 shares during the last quarter. FDx Advisors Inc. grew its position in NeoGenomics by 37.7% during the 3rd quarter. FDx Advisors Inc. now owns 23,029 shares of the medical research company’s stock valued at $256,000 after purchasing an additional 6,306 shares during the last quarter. Finally, Voya Investment Management LLC grew its position in NeoGenomics by 15.4% during the 2nd quarter. Voya Investment Management LLC now owns 29,333 shares of the medical research company’s stock valued at $263,000 after purchasing an additional 3,921 shares during the last quarter. 83.43% of the stock is currently owned by institutional investors.

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About NeoGenomics

NeoGenomics, Inc is an operator of a network of cancer-focused genetic testing laboratories. The Company operates in Laboratory Testing Segment. This segment delivers testing services to hospitals, pathologists, oncologists, other clinicians and researchers. It has laboratory locations in Ft. Myers and Tampa, Florida; Aliso Viejo, Fresno, Irvine, and West Sacramento, California; Houston, Texas and Nashville, and Tennessee.

Analyst Recommendations for NeoGenomics (NASDAQ:NEO)

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