Zacks Investment Research cut shares of NeoGenomics, Inc. (NASDAQ:NEO) from a hold rating to a sell rating in a report issued 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. “
Other equities analysts also recently issued research reports about the stock. BidaskClub downgraded shares of NeoGenomics from a strong-buy rating to a buy rating in a research note on Wednesday, September 13th. Gabelli started coverage on shares of NeoGenomics in a research note on Thursday, August 24th. They issued a buy rating and a $9.00 target price on the stock. ValuEngine raised shares of NeoGenomics from a sell rating to a hold rating in a research note on Monday, August 7th. Finally, BTIG Research downgraded shares of NeoGenomics from a buy rating to a neutral rating in a research note on Monday, September 11th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. NeoGenomics presently has an average rating of Hold and a consensus target price of $10.33.
NeoGenomics (NEO) opened at 11.04 on Thursday. NeoGenomics has a 1-year low of $6.90 and a 1-year high of $11.63. The firm has a 50 day moving average of $10.42 and a 200 day moving average of $8.84. The firm’s market cap is $876.44 million.
NeoGenomics (NASDAQ:NEO) last issued its 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. NeoGenomics had a negative net margin of 2.81% and a positive return on equity of 6.09%. The business had revenue of $66.09 million for the quarter, compared to the consensus estimate of $62.95 million. During the same quarter last year, the firm posted $0.04 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities research analysts expect that NeoGenomics will post $0.18 EPS for the current year.
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In other news, Director Alison L. Hannah purchased 20,000 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were purchased at an average price of $9.19 per share, with a total value of $183,800.00. Following the purchase, the director now directly owns 38,782 shares of the company’s stock, valued at approximately $356,406.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 11.20% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Wrapmanager Inc. purchased a new stake in NeoGenomics during the 2nd quarter worth $109,000. Cambridge Investment Research Advisors Inc. increased 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 worth $107,000 after buying an additional 1,000 shares during the period. KCG Holdings Inc. purchased a new stake in NeoGenomics during the 1st quarter worth $118,000. OLD National Bancorp IN purchased a new stake in NeoGenomics during the 2nd quarter worth $141,000. Finally, Parkwood LLC purchased a new stake in NeoGenomics during the 2nd quarter worth $165,000. 80.41% of the stock is currently 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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