NeoGenomics (NASDAQ:NEO) Stock Rating Lowered by Zacks Research

NeoGenomics (NASDAQ:NEO) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday, Zacks reports.

NEO has been the topic of several other research reports. Wall Street Zen upgraded shares of NeoGenomics from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Craig Hallum reiterated a “buy” rating and issued a $19.00 price objective on shares of NeoGenomics in a report on Wednesday, July 29th. Needham & Company LLC increased their target price on shares of NeoGenomics from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Benchmark increased their target price on shares of NeoGenomics from $11.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, TD Cowen restated a “buy” rating on shares of NeoGenomics in a report on Wednesday, July 15th. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.67.

NeoGenomics Trading Down 2.9%

Shares of NASDAQ NEO opened at $18.74 on Monday. The business has a 50 day simple moving average of $17.03 and a 200 day simple moving average of $12.59. NeoGenomics has a 52 week low of $7.07 and a 52 week high of $20.05. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of -46.85 and a beta of 1.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.35 and a current ratio of 3.60.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings data on Tuesday, July 28th. The medical research company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.02. The firm had revenue of $201.66 million for the quarter, compared to analyst estimates of $196.93 million. NeoGenomics had a negative net margin of 6.77% and a negative return on equity of 1.99%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.03 earnings per share. On average, research analysts predict that NeoGenomics will post -0.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NeoGenomics

Institutional investors have recently modified their holdings of the company. Allworth Financial LP lifted its stake in shares of NeoGenomics by 110.4% in the second quarter. Allworth Financial LP now owns 4,132 shares of the medical research company’s stock worth $60,000 after buying an additional 2,168 shares during the last quarter. MQS Management LLC bought a new position in NeoGenomics in the 1st quarter worth $75,000. Integrated Wealth Concepts LLC bought a new position in NeoGenomics in the 2nd quarter worth $99,000. Stephens Inc. AR acquired a new position in NeoGenomics during the 1st quarter worth $143,000. Finally, Amundi bought a new stake in NeoGenomics during the first quarter valued at about $157,000. Institutional investors own 98.50% of the company’s stock.

About NeoGenomics

NeoGenomics, Inc is a provider of cancer-focused diagnostic testing and contract research services. The company operates clinical laboratories that support physicians, hospitals and other healthcare organizations with information used to help diagnose, classify and monitor cancer.

Its testing services include anatomic pathology, immunohistochemistry, flow cytometry, cytogenetics, fluorescence in situ hybridization, molecular testing and next-generation sequencing. NeoGenomics also provides biopharmaceutical companies with clinical trial testing, central laboratory services, biomarker development and other research services intended to support the development of oncology therapies and companion diagnostics.

Founded in 1999, NeoGenomics serves healthcare providers and pharmaceutical and biotechnology customers primarily in the United States, with additional capabilities supporting international clinical research programs.