BidaskClub Upgrades NeoGenomics, Inc. (NEO) to Strong-Buy
NeoGenomics, Inc. (NASDAQ:NEO) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.
Several other research firms have also recently commented on NEO. Zacks Investment Research upgraded shares of NeoGenomics from a “sell” rating to a “hold” rating in a research report on Saturday, July 29th. Gabelli started coverage on shares of NeoGenomics in a research report on Thursday, August 24th. They issued a “buy” rating and a $9.00 target price for the company. ValuEngine upgraded shares of NeoGenomics from a “sell” rating to a “hold” rating in a research report on Friday, June 23rd. Cantor Fitzgerald set a $11.00 target price on shares of NeoGenomics and gave the stock a “buy” rating in a research report on Saturday, May 27th. Finally, BTIG Research restated a “buy” rating and issued a $11.00 target price on shares of NeoGenomics in a research report on Sunday, May 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. NeoGenomics currently has a consensus rating of “Buy” and an average price target of $10.17.
Shares of NeoGenomics (NASDAQ:NEO) opened at 10.29 on Friday. The stock’s market cap is $816.90 million. NeoGenomics has a one year low of $6.90 and a one year high of $10.30. The firm has a 50-day moving average price of $9.36 and a 200-day moving average price of $8.36.
NeoGenomics (NASDAQ:NEO) last posted its earnings results on Tuesday, July 25th. The medical research company reported $0.04 EPS for the quarter, topping the 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 firm had revenue of $66.09 million during the quarter, compared to analysts’ expectations of $62.95 million. During the same quarter in the prior year, the firm earned $0.04 EPS. NeoGenomics’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts anticipate that NeoGenomics will post $0.18 earnings per share for the current fiscal year.
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In related news, Director Alison L. Hannah acquired 20,000 shares of the firm’s stock in a transaction dated Thursday, July 27th. The stock was acquired at an average cost of $9.19 per share, for a total transaction of $183,800.00. Following the completion of the acquisition, 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 legal filing with the SEC, which is available at this link. Also, VP Jennifer Balliet sold 10,723 shares of the stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $8.49, for a total transaction of $91,038.27. The disclosure for this sale can be found here. Company insiders own 12.20% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. boosted its position in NeoGenomics by 7.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,600 shares of the medical research company’s stock valued at $107,000 after buying an additional 1,000 shares during the period. Wrapmanager Inc. bought a new position in NeoGenomics during the second quarter valued at about $109,000. Campbell & CO Investment Adviser LLC boosted its position in NeoGenomics by 10.4% in the first quarter. Campbell & CO Investment Adviser LLC now owns 15,009 shares of the medical research company’s stock valued at $118,000 after buying an additional 1,419 shares during the period. KCG Holdings Inc. bought a new position in NeoGenomics during the first quarter valued at about $118,000. Finally, OLD National Bancorp IN bought a new position in NeoGenomics during the second quarter valued at about $141,000. Institutional investors and hedge funds own 80.81% of the company’s stock.
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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