NeoGenomics, Inc. (NEO) Receives Consensus Recommendation of “Buy” from Analysts
NeoGenomics, Inc. (NASDAQ:NEO) has been assigned a consensus rating of “Buy” from the nine analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $10.40.
Several research analysts have commented on the company. BidaskClub raised NeoGenomics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. Zacks Investment Research raised NeoGenomics from a “sell” rating to a “hold” rating in a research note on Saturday, July 29th. ValuEngine raised NeoGenomics from a “sell” rating to a “hold” rating in a research note on Friday, June 23rd. BTIG Research reissued a “buy” rating and set a $11.00 target price on shares of NeoGenomics in a research note on Sunday, May 28th. Finally, Cantor Fitzgerald set a $11.00 target price on NeoGenomics and gave the stock a “buy” rating in a research note on Saturday, May 27th.
In other news, Director Alison L. Hannah bought 20,000 shares of the stock in a transaction dated Thursday, July 27th. The shares were bought at an average cost of $9.19 per share, with a total value of $183,800.00. Following the completion of the transaction, the director now directly owns 38,782 shares of the company’s stock, valued at $356,406.58. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven A. Ross sold 70,833 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $7.76, for a total value of $549,664.08. Following the transaction, the insider now directly owns 4,500 shares in the company, valued at $34,920. The disclosure for this sale can be found here. 12.20% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP purchased a new position in shares of NeoGenomics during the fourth quarter worth $1,271,000. Teachers Advisors LLC raised its position in shares of NeoGenomics by 0.4% in the fourth quarter. Teachers Advisors LLC now owns 93,314 shares of the medical research company’s stock worth $800,000 after buying an additional 396 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its position in shares of NeoGenomics by 16.2% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 907,529 shares of the medical research company’s stock worth $7,160,000 after buying an additional 126,851 shares during the last quarter. Emerald Advisers Inc. PA raised its position in shares of NeoGenomics by 30.5% in the first quarter. Emerald Advisers Inc. PA now owns 1,274,860 shares of the medical research company’s stock worth $10,059,000 after buying an additional 297,604 shares during the last quarter. Finally, Monarch Partners Asset Management LLC purchased a new position in shares of NeoGenomics during the first quarter worth $295,000. 80.81% of the stock is currently owned by institutional investors.
NeoGenomics (NASDAQ:NEO) traded up 0.32% on Tuesday, hitting $9.33. 214,120 shares of the stock traded hands. The stock has a 50-day moving average of $9.26 and a 200-day moving average of $8.30. NeoGenomics has a 12-month low of $6.90 and a 12-month high of $9.93. The firm’s market cap is $740.69 million.
NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Tuesday, July 25th. The medical research company reported $0.04 EPS for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.03. The business had revenue of $66.09 million during the quarter, compared to the consensus estimate of $62.95 million. NeoGenomics had a positive return on equity of 6.09% and a negative net margin of 2.81%. NeoGenomics’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.04 earnings per share. Analysts forecast that NeoGenomics will post $0.18 earnings per share for the current year.
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.
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