NeoGenomics (NASDAQ:NEO) Upgraded at Wall Street Zen

NeoGenomics (NASDAQ:NEO) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Several other research analysts have also issued reports on NEO. Weiss Ratings upgraded NeoGenomics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 8th. Leerink Partners raised NeoGenomics from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $12.00 to $25.00 in a research note on Wednesday, April 29th. TD Cowen boosted their price objective on NeoGenomics from $13.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Benchmark raised NeoGenomics from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Wednesday, April 29th. Finally, William Blair reiterated a “market perform” rating on shares of NeoGenomics in a report on Monday, March 16th. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, NeoGenomics has an average rating of “Hold” and a consensus price target of $13.86.

NeoGenomics Price Performance

Shares of NASDAQ NEO opened at $14.17 on Friday. The firm’s 50-day moving average price is $9.81 and its 200-day moving average price is $10.30. NeoGenomics has a 1-year low of $4.72 and a 1-year high of $14.23. The firm has a market capitalization of $1.85 billion, a P/E ratio of -18.40 and a beta of 1.82. The company has a current ratio of 4.42, a quick ratio of 4.06 and a debt-to-equity ratio of 0.41.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings data on Tuesday, April 28th. The medical research company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. The company had revenue of $186.67 million for the quarter, compared to analysts’ expectations of $184.54 million. NeoGenomics had a negative net margin of 13.30% and a negative return on equity of 2.80%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. Equities research analysts anticipate that NeoGenomics will post -0.15 earnings per share for the current fiscal year.

Insider Buying and Selling at NeoGenomics

In related news, Director Lynn A. Tetrault sold 5,307 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $11.29, for a total value of $59,916.03. Following the transaction, the director owned 91,422 shares of the company’s stock, valued at approximately $1,032,154.38. This trade represents a 5.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of NeoGenomics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NEO. Amundi bought a new position in shares of NeoGenomics in the first quarter valued at approximately $157,000. California State Teachers Retirement System grew its holdings in NeoGenomics by 56.8% during the first quarter. California State Teachers Retirement System now owns 194,103 shares of the medical research company’s stock worth $1,440,000 after buying an additional 70,320 shares in the last quarter. Royal Bank of Canada grew its holdings in NeoGenomics by 79.9% during the first quarter. Royal Bank of Canada now owns 32,433 shares of the medical research company’s stock worth $240,000 after buying an additional 14,402 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in NeoGenomics by 42.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 55,031 shares of the medical research company’s stock valued at $408,000 after buying an additional 16,365 shares during the last quarter. Finally, Quantinno Capital Management LP raised its position in NeoGenomics by 21.7% in the 1st quarter. Quantinno Capital Management LP now owns 49,291 shares of the medical research company’s stock valued at $366,000 after buying an additional 8,796 shares during the last quarter. 98.50% of the stock is owned by institutional investors.

About NeoGenomics

NeoGenomics, traded on the Nasdaq under the symbol NEO, is a leading provider of cancer-focused genetic and molecular testing services. Headquartered in Fort Myers, Florida, the company operates an integrated network of CAP-accredited and CLIA-certified laboratories across the United States, Europe and Asia. NeoGenomics delivers diagnostic insights that support oncologists, pathologists and healthcare institutions in the detection, prognosis and treatment of hematologic and solid tumor cancers.

The company’s core service offerings include flow cytometry, immunohistochemistry, fluorescence in situ hybridization (FISH), karyotyping and advanced molecular assays such as next-generation sequencing (NGS) panels and polymerase chain reaction (PCR) tests.