NeoGenomics (NASDAQ:NEO) Downgraded by Zacks Investment Research

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NeoGenomics (NASDAQ:NEO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

According to Zacks, “NeoGenomics, Inc. is a high-complexity CLIA-certified clinical laboratory that specializes in cancer genetics diagnostic testing, the fastest growing segment of the laboratory industry. The company’s testing services include cytogenetics, fluorescence in-situ hybridization, flow cytometry, morphology studies, anatomic pathology and molecular genetic testing. Headquartered in Fort Myers, FL, NeoGenomics has labs in Nashville, TN, Irvine, CA and Fort Myers and services the needs of pathologists, oncologists, urologists, hospitals and other reference laboratories throughout the United States. “

A number of other research analysts have also issued reports on the stock. BidaskClub raised shares of NeoGenomics from a “sell” rating to a “hold” rating in a research note on Saturday, October 5th. Raymond James boosted their target price on shares of NeoGenomics from $23.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Benchmark set a $27.00 target price on shares of NeoGenomics and gave the company a “buy” rating in a research note on Wednesday, July 31st. Needham & Company LLC set a $27.00 target price on shares of NeoGenomics and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Leerink Swann set a $30.00 target price on shares of NeoGenomics and gave the company a “buy” rating in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. NeoGenomics has a consensus rating of “Buy” and a consensus price target of $24.38.

NeoGenomics stock opened at $19.95 on Wednesday. The company has a quick ratio of 4.52, a current ratio of 4.67 and a debt-to-equity ratio of 0.25. The firm has a 50-day moving average price of $21.04 and a two-hundred day moving average price of $22.44. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 153.46 and a beta of 0.92. NeoGenomics has a 52-week low of $11.05 and a 52-week high of $26.89.

NeoGenomics (NASDAQ:NEO) last posted its earnings results on Tuesday, July 30th. The medical research company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The firm had revenue of $101.71 million during the quarter, compared to analyst estimates of $97.32 million. NeoGenomics had a net margin of 0.57% and a return on equity of 4.97%. NeoGenomics’s revenue was up 50.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.05 EPS. Research analysts expect that NeoGenomics will post 0.19 earnings per share for the current year.

In other news, Director Steven C. Jones sold 181,339 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $24.92, for a total value of $4,518,967.88. Following the completion of the sale, the director now directly owns 245,234 shares of the company’s stock, valued at approximately $6,111,231.28. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven C. Jones sold 40,737 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $25.02, for a total transaction of $1,019,239.74. Following the completion of the sale, the director now directly owns 245,234 shares of the company’s stock, valued at $6,135,754.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 241,370 shares of company stock valued at $6,017,680. Company insiders own 8.80% of the company’s stock.

Large investors have recently modified their holdings of the company. NEXT Financial Group Inc lifted its stake in shares of 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. Captrust Financial Advisors acquired a new stake in shares of NeoGenomics in the 2nd quarter worth approximately $66,000. Nisa Investment Advisors LLC lifted its stake in shares of NeoGenomics by 867.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,870 shares of the medical research company’s stock worth $74,000 after acquiring an additional 3,470 shares during the period. Winslow Evans & Crocker Inc. acquired a new stake in shares of NeoGenomics in the 2nd quarter worth approximately $92,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of NeoGenomics by 14.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,778 shares of the medical research company’s stock worth $110,000 after purchasing an additional 739 shares in the last quarter. 84.95% of the stock is owned by 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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