NeoGenomics (NASDAQ:NEO) Stock Rating Lowered by BidaskClub

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BidaskClub downgraded shares of NeoGenomics (NASDAQ:NEO) from a hold rating to a sell rating in a research note released on Thursday, BidAskClub reports.

A number of other research analysts have also recently issued reports on NEO. Needham & Company LLC set a $27.00 price objective on NeoGenomics and gave the company a buy rating in a research note on Wednesday, July 31st. Leerink Swann set a $30.00 price objective on NeoGenomics and gave the company a buy rating in a research report on Wednesday, July 31st. Benchmark set a $27.00 price objective on NeoGenomics and gave the company a buy rating in a research report on Wednesday, July 31st. Zacks Investment Research cut NeoGenomics from a buy rating to a hold rating in a research report on Wednesday, October 23rd. Finally, ValuEngine lowered shares of NeoGenomics from a buy rating to a hold rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. NeoGenomics currently has a consensus rating of Buy and an average target price of $24.38.

NASDAQ NEO opened at $19.95 on Thursday. The firm has a market cap of $2.07 billion, a P/E ratio of 153.46 and a beta of 0.92. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.67 and a quick ratio of 4.52. The stock’s 50-day moving average is $20.77 and its 200-day moving average is $22.42. NeoGenomics has a one year low of $11.05 and a one year high of $26.89.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings results on Tuesday, July 30th. The medical research company reported $0.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.02. The company 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 revenue was up 50.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.05 earnings per share. Equities analysts anticipate that NeoGenomics will post 0.19 EPS for the current year.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. New York State Teachers Retirement System raised its holdings in NeoGenomics by 96.1% in the 3rd quarter. New York State Teachers Retirement System now owns 140,967 shares of the medical research company’s stock worth $2,695,000 after acquiring an additional 69,100 shares during the last quarter. Rhumbline Advisers raised its stake in NeoGenomics by 5.5% during the 3rd quarter. Rhumbline Advisers now owns 296,152 shares of the medical research company’s stock valued at $5,662,000 after buying an additional 15,438 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in NeoGenomics during the 3rd quarter valued at $1,988,000. Virginia Retirement Systems ET AL purchased a new stake in NeoGenomics during the 3rd quarter valued at $239,000. Finally, Strs Ohio raised its stake in NeoGenomics by 15.9% during the 3rd quarter. Strs Ohio now owns 115,900 shares of the medical research company’s stock valued at $2,216,000 after buying an additional 15,900 shares during the last quarter. Institutional investors own 84.95% 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.

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Analyst Recommendations for NeoGenomics (NASDAQ:NEO)

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