Zacks Investment Research Lowers NeoGenomics (NEO) to Hold

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NeoGenomics (NASDAQ:NEO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.

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. “

NEO has been the topic of several other reports. BidaskClub raised NeoGenomics from a “hold” rating to a “buy” rating in a report on Tuesday, January 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $24.00 target price (up from $22.00) on shares of NeoGenomics in a report on Wednesday, May 1st. CIBC raised NeoGenomics from a “neutral” rating to an “outperform” rating and reduced their target price for the stock from $18.00 to $15.00 in a report on Tuesday, March 12th. Finally, ValuEngine raised NeoGenomics from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 10th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $20.00.

Shares of NeoGenomics stock opened at $22.25 on Tuesday. NeoGenomics has a 52 week low of $10.62 and a 52 week high of $23.85. The stock has a market capitalization of $2.17 billion, a PE ratio of 171.15 and a beta of 0.91. The company has a current ratio of 1.59, a quick ratio of 1.46 and a debt-to-equity ratio of 0.35.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings data on Tuesday, April 30th. The medical research company reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.03. NeoGenomics had a positive return on equity of 3.07% and a negative net margin of 0.14%. The business had revenue of $95.60 million for the quarter, compared to the consensus estimate of $89.71 million. During the same period in the previous year, the business earned $0.04 earnings per share. The business’s revenue was up 50.8% on a year-over-year basis. On average, equities research analysts anticipate that NeoGenomics will post 0.19 EPS for the current fiscal year.

In other NeoGenomics news, Director Raymond R. Hipp sold 18,889 shares of the business’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $18.90, for a total transaction of $357,002.10. Following the sale, the director now directly owns 297,580 shares of the company’s stock, valued at $5,624,262. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William Bonello sold 7,200 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $23.53, for a total value of $169,416.00. Following the sale, the insider now directly owns 13,935 shares in the company, valued at $327,890.55. The disclosure for this sale can be found here. Insiders have sold 452,400 shares of company stock worth $9,332,358 over the last three months. 12.20% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Ruggie Capital Group increased its stake in NeoGenomics by 74.1% during the fourth quarter. Ruggie Capital Group now owns 2,350 shares of the medical research company’s stock worth $30,000 after acquiring an additional 1,000 shares during the last quarter. CWM LLC bought a new stake in NeoGenomics during the fourth quarter worth approximately $30,000. First Quadrant L P CA bought a new stake in NeoGenomics during the fourth quarter worth approximately $65,000. Quantamental Technologies LLC bought a new stake in NeoGenomics during the fourth quarter worth approximately $76,000. Finally, Bessemer Group Inc. bought a new stake in NeoGenomics during the fourth quarter worth approximately $78,000. 74.71% of the stock is currently owned by institutional investors.

NeoGenomics Company Profile

NeoGenomics, Inc, together with its subsidiaries, operates a network of cancer-focused genetic testing laboratories in the United States; and laboratories in Switzerland and Singapore. It operates in two segments, Clinical Services and Pharma Services. The company's laboratories provide genetic and molecular testing services to hospitals, pathologists, oncologists, urologists, other clinicians and researchers, pharmaceutical firms, academic centers, and other clinical laboratories.

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