NeoGenomics, Inc. (NEO) Lifted to Strong-Buy at BidaskClub
BidaskClub upgraded shares of NeoGenomics, Inc. (NASDAQ:NEO) from a buy rating to a strong-buy rating in a research note released on Saturday morning.
A number of other research firms have also recently issued reports on NEO. Zacks Investment Research upgraded NeoGenomics from a sell rating to a hold rating in a report on Saturday, July 29th. ValuEngine upgraded NeoGenomics from a sell rating to a hold rating in a report on Monday, August 7th. Gabelli assumed coverage on NeoGenomics in a report on Thursday, August 24th. They set a buy rating and a $9.00 price target on the stock. BTIG Research reiterated a buy rating and issued a $11.00 target price on shares of NeoGenomics in a report on Sunday, May 28th. Finally, Cantor Fitzgerald set a $11.00 target price on NeoGenomics and gave the stock a buy rating in a report on Saturday, May 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. NeoGenomics currently has an average rating of Buy and an average target price of $10.17.
NeoGenomics (NEO) opened at 10.29 on Friday. NeoGenomics has a 52 week low of $6.90 and a 52 week high of $10.30. The company’s market cap is $816.90 million. The firm has a 50-day moving average of $9.36 and a 200-day moving average of $8.36.
NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Tuesday, July 25th. The medical research company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. The firm had revenue of $66.09 million for the quarter, compared to analysts’ expectations of $62.95 million. NeoGenomics had a positive return on equity of 6.09% and a negative net margin of 2.81%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.04 EPS. Equities analysts forecast that NeoGenomics will post $0.18 earnings per share for the current year.
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In related news, VP Jennifer Balliet sold 10,723 shares of the stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $8.49, for a total value of $91,038.27. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Alison L. Hannah bought 20,000 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was purchased at an average price of $9.19 per share, for a total transaction of $183,800.00. Following the completion of the acquisition, the director now owns 38,782 shares in the company, valued at $356,406.58. The disclosure for this purchase can be found here. 12.20% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the business. Wrapmanager Inc. bought a new position in NeoGenomics during the 2nd quarter valued at $109,000. Cambridge Investment Research Advisors Inc. lifted its stake in NeoGenomics by 7.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,600 shares of the medical research company’s stock valued at $107,000 after acquiring an additional 1,000 shares in the last quarter. KCG Holdings Inc. bought a new position in NeoGenomics during the 1st quarter valued at $118,000. Campbell & CO Investment Adviser LLC lifted its stake in NeoGenomics by 10.4% during the 1st quarter. Campbell & CO Investment Adviser LLC now owns 15,009 shares of the medical research company’s stock valued at $118,000 after acquiring an additional 1,419 shares in the last quarter. Finally, OLD National Bancorp IN bought a new position in NeoGenomics during the 2nd quarter valued at $141,000. Institutional investors and hedge funds own 80.81% of the company’s stock.
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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