NeoGenomics (NASDAQ:NEO) Downgraded by Zacks Research to Hold

Zacks Research cut shares of NeoGenomics (NASDAQ:NEO) from a strong-buy rating to a hold rating in a report released on Monday,Zacks reports.

A number of other equities analysts also recently commented on NEO. TD Cowen reiterated a “buy” rating on shares of NeoGenomics in a research report on Wednesday, July 15th. Needham & Company LLC raised their target price on NeoGenomics from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Craig Hallum reissued a “buy” rating and set a $19.00 price target on shares of NeoGenomics in a research report on Wednesday, July 29th. Weiss Ratings raised shares of NeoGenomics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. Finally, Wall Street Zen raised shares of NeoGenomics from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, NeoGenomics currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.67.

NeoGenomics Stock Down 2.9%

Shares of NEO opened at $18.74 on Monday. The stock has a 50 day moving average price of $17.03 and a 200 day moving average price of $12.59. NeoGenomics has a one year low of $7.07 and a one year high of $20.05. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.35 and a current ratio of 3.60. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of -46.85 and a beta of 1.75.

NeoGenomics (NASDAQ:NEO) last released its earnings results on Tuesday, July 28th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The business had revenue of $201.66 million during the quarter, compared to analyst estimates of $196.93 million. NeoGenomics had a negative net margin of 6.77% and a negative return on equity of 1.99%. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.03 earnings per share. Equities research analysts forecast that NeoGenomics will post -0.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NeoGenomics

A number of institutional investors have recently made changes to their positions in NEO. Allworth Financial LP lifted its holdings in shares of NeoGenomics by 110.4% in the 2nd quarter. Allworth Financial LP now owns 4,132 shares of the medical research company’s stock worth $60,000 after acquiring an additional 2,168 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in NeoGenomics in the 2nd quarter valued at approximately $99,000. MQS Management LLC purchased a new stake in NeoGenomics in the first quarter valued at approximately $75,000. Moors & Cabot Inc. lifted its stake in NeoGenomics by 12.7% during the fourth quarter. Moors & Cabot Inc. now owns 15,500 shares of the medical research company’s stock worth $182,000 after purchasing an additional 1,750 shares in the last quarter. Finally, Stephens Inc. AR acquired a new position in NeoGenomics during the first quarter worth $143,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

About NeoGenomics

NeoGenomics, Inc is a provider of cancer-focused diagnostic testing and contract research services. The company operates clinical laboratories that support physicians, hospitals and other healthcare organizations with information used to help diagnose, classify and monitor cancer.

Its testing services include anatomic pathology, immunohistochemistry, flow cytometry, cytogenetics, fluorescence in situ hybridization, molecular testing and next-generation sequencing. NeoGenomics also provides biopharmaceutical companies with clinical trial testing, central laboratory services, biomarker development and other research services intended to support the development of oncology therapies and companion diagnostics.

Founded in 1999, NeoGenomics serves healthcare providers and pharmaceutical and biotechnology customers primarily in the United States, with additional capabilities supporting international clinical research programs.