Zacks Investment Research Lowers NeoGenomics, Inc. (NEO) to Sell
Zacks Investment Research cut shares of NeoGenomics, Inc. (NASDAQ:NEO) from a hold rating to a sell rating in a report published on Thursday morning.
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. “
Several other research firms have also recently issued reports on NEO. BidaskClub upgraded shares of NeoGenomics from a buy rating to a strong-buy rating in a research report on Saturday, September 23rd. BTIG Research cut shares of NeoGenomics from a buy rating to a neutral rating in a research report on Monday, September 11th. ValuEngine upgraded shares of NeoGenomics from a sell rating to a hold rating in a research report on Monday, August 7th. Finally, Gabelli began coverage on shares of NeoGenomics in a research report on Thursday, August 24th. They set a buy rating and a $9.00 price objective on the stock. Two analysts have rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $10.33.
NeoGenomics (NEO) traded down 0.09% during trading on Thursday, reaching $11.04. 169,716 shares of the company’s stock were exchanged. The company’s market cap is $876.44 million. The stock’s 50-day moving average is $10.42 and its 200-day moving average is $8.84. NeoGenomics has a 12-month low of $6.90 and a 12-month high of $11.63.
NeoGenomics (NASDAQ:NEO) last released its quarterly earnings data on Tuesday, July 25th. The medical research company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate 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 negative net margin of 2.81% and a positive return on equity of 6.09%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.04 earnings per share. Analysts predict that NeoGenomics will post $0.18 EPS for the current fiscal year.
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In related news, Director Alison L. Hannah acquired 20,000 shares of NeoGenomics stock in a transaction dated Thursday, July 27th. The shares were purchased at an average price of $9.19 per share, for a total transaction of $183,800.00. Following the completion of the transaction, the director now directly owns 38,782 shares in the company, valued at approximately $356,406.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 11.20% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Royce & Associates LP grew its holdings in shares of NeoGenomics by 57.5% in the second quarter. Royce & Associates LP now owns 955,900 shares of the medical research company’s stock valued at $8,565,000 after purchasing an additional 348,900 shares in the last quarter. Blair William & Co. IL grew its holdings in shares of NeoGenomics by 8.1% in the second quarter. Blair William & Co. IL now owns 377,672 shares of the medical research company’s stock valued at $3,384,000 after purchasing an additional 28,213 shares in the last quarter. Cadence Capital Management LLC grew its holdings in shares of NeoGenomics by 5.8% in the second quarter. Cadence Capital Management LLC now owns 150,419 shares of the medical research company’s stock valued at $1,348,000 after purchasing an additional 8,241 shares in the last quarter. Falcon Point Capital LLC grew its holdings in shares of NeoGenomics by 338.6% in the second quarter. Falcon Point Capital LLC now owns 1,100,474 shares of the medical research company’s stock valued at $9,860,000 after purchasing an additional 849,589 shares in the last quarter. Finally, Spark Investment Management LLC purchased a new position in shares of NeoGenomics in the first quarter valued at $1,012,000. 80.41% of the stock is owned by hedge funds and other institutional investors.
NeoGenomics Company Profile
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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