NeoGenomics (NASDAQ:NEO) Rating Lowered to “Hold” at Benchmark

NeoGenomics (NASDAQ:NEO) was downgraded by stock analysts at Benchmark from a “buy” rating to a “hold” rating in a report issued on Monday,Briefing.com Automated Import reports.

A number of other equities analysts have also recently commented on NEO. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price objective on shares of NeoGenomics in a research report on Friday. Jefferies Financial Group initiated coverage on NeoGenomics in a research note on Tuesday, December 10th. They set a “buy” rating and a $22.00 target price for the company. Finally, Bank of America boosted their target price on NeoGenomics from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.30.

NeoGenomics Stock Down 20.6 %

Shares of NASDAQ:NEO opened at $14.77 on Monday. NeoGenomics has a 12 month low of $12.77 and a 12 month high of $19.11. The company’s 50-day moving average price is $16.82 and its two-hundred day moving average price is $15.67. The company has a quick ratio of 1.91, a current ratio of 1.99 and a debt-to-equity ratio of 0.37. The firm has a market cap of $1.90 billion, a P/E ratio of -24.21 and a beta of 1.24.

NeoGenomics (NASDAQ:NEO) last issued its earnings results on Tuesday, November 5th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. The company had revenue of $167.80 million for the quarter, compared to analyst estimates of $167.00 million. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.06) EPS. As a group, research analysts forecast that NeoGenomics will post -0.16 EPS for the current fiscal year.

Insider Buying and Selling at NeoGenomics

In other news, General Counsel Alicia C. Olivo sold 5,175 shares of NeoGenomics stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $15.36, for a total value of $79,488.00. Following the sale, the general counsel now directly owns 37,129 shares in the company, valued at approximately $570,301.44. This trade represents a 12.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NEO. Geode Capital Management LLC boosted its holdings in shares of NeoGenomics by 1.2% in the third quarter. Geode Capital Management LLC now owns 3,051,806 shares of the medical research company’s stock worth $45,022,000 after buying an additional 36,136 shares during the last quarter. Jennison Associates LLC boosted its stake in NeoGenomics by 4.7% during the third quarter. Jennison Associates LLC now owns 1,276,468 shares of the medical research company’s stock worth $18,828,000 after buying an additional 57,041 shares during the period. First Light Asset Management LLC boosted its stake in NeoGenomics by 14.5% during the second quarter. First Light Asset Management LLC now owns 3,782,561 shares of the medical research company’s stock worth $52,464,000 after buying an additional 480,396 shares during the period. Blue Trust Inc. boosted its stake in shares of NeoGenomics by 42.3% during the third quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock valued at $46,000 after purchasing an additional 987 shares during the period. Finally, Sei Investments Co. lifted its stake in NeoGenomics by 152.6% in the second quarter. Sei Investments Co. now owns 263,761 shares of the medical research company’s stock worth $3,658,000 after acquiring an additional 159,350 shares during the period. 98.50% of the stock is currently owned by institutional investors.

NeoGenomics Company Profile

NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States and the United Kingdom. It operates through Clinical Services and Advanced Diagnostics segments. The company offers testing services to hospitals, academic centers, pathologists, oncologists, clinicians, pharmaceutical companies, and clinical laboratories.