NeoGenomics, Inc. (NASDAQ:NEO) has been given an average rating of “Buy” by the thirteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $19.50.
A number of equities analysts have recently issued reports on NEO shares. BidaskClub upgraded NeoGenomics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 20th. Zacks Investment Research cut NeoGenomics from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. CIBC upgraded NeoGenomics from a “neutral” rating to an “outperform” rating and dropped their target price for the company from $18.00 to $15.00 in a report on Tuesday, March 12th. Finally, Needham & Company LLC increased their target price on NeoGenomics from $19.00 to $22.00 and gave the company a “buy” rating in a report on Friday, March 29th.
In other NeoGenomics news, Director Raymond R. Hipp sold 150,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $22.41, for a total value of $3,361,500.00. Following the completion of the sale, the director now owns 256,059 shares in the company, valued at approximately $5,738,282.19. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider George Cardoza sold 151,676 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $22.82, for a total value of $3,461,246.32. Following the completion of the sale, the insider now owns 452,507 shares of the company’s stock, valued at approximately $10,326,209.74. The disclosure for this sale can be found here. Insiders have sold a total of 338,876 shares of company stock valued at $7,674,362 over the last 90 days. 8.80% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in NeoGenomics by 29.0% in the 4th quarter. Los Angeles Capital Management & Equity Research Inc. now owns 64,134 shares of the medical research company’s stock worth $809,000 after buying an additional 14,405 shares during the period. Oberweis Asset Management Inc. purchased a new stake in NeoGenomics in the 4th quarter worth approximately $816,000. Castleark Management LLC lifted its holdings in NeoGenomics by 131.7% in the 4th quarter. Castleark Management LLC now owns 674,234 shares of the medical research company’s stock worth $8,502,000 after buying an additional 383,300 shares during the period. American Capital Management Inc. purchased a new stake in NeoGenomics in the 4th quarter worth approximately $495,000. Finally, Convergence Investment Partners LLC purchased a new stake in NeoGenomics in the 4th quarter worth approximately $252,000. Institutional investors and hedge funds own 84.23% of the company’s stock.
Shares of NEO traded up $0.71 during midday trading on Monday, reaching $23.80. The stock had a trading volume of 60,971 shares, compared to its average volume of 1,127,998. The business has a 50-day moving average price of $22.22. NeoGenomics has a 12-month low of $11.05 and a 12-month high of $24.30. The company has a quick ratio of 1.46, a current ratio of 1.59 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $2.20 billion, a P/E ratio of 184.23 and a beta of 0.83.
NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Tuesday, April 30th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $95.60 million during the quarter, compared to analysts’ expectations of $89.71 million. During the same period in the prior year, the business earned $0.04 EPS. The company’s revenue for the quarter was up 50.8% compared to the same quarter last year. As a group, equities analysts forecast that NeoGenomics will post 0.18 earnings per share for the current fiscal year.
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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