BidaskClub cut shares of NeoGenomics, Inc. (NASDAQ:NEO) from a strong-buy rating to a buy rating in a report released on Friday, July 28th.
NEO has been the subject of a number of other reports. Zacks Investment Research downgraded shares of NeoGenomics from a hold rating to a sell rating in a research report on Tuesday, May 9th. Cantor Fitzgerald set a $11.00 target price on shares of NeoGenomics and gave the stock a buy rating in a research note on Saturday, May 27th. BTIG Research reiterated a buy rating and issued a $11.00 target price on shares of NeoGenomics in a research note on Sunday, May 28th. Finally, ValuEngine upgraded shares of NeoGenomics from a sell rating to a hold rating in a research report on Friday, June 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. NeoGenomics has a consensus rating of Buy and an average price target of $10.40.
Shares of NeoGenomics (NASDAQ NEO) opened at 9.40 on Friday. NeoGenomics has a 52 week low of $6.90 and a 52 week high of $9.93. The firm’s 50-day moving average price is $9.18 and its 200-day moving average price is $8.24. The firm’s market cap is $746.25 million.
NeoGenomics (NASDAQ:NEO) last posted its earnings results on Tuesday, July 25th. The medical research company reported $0.04 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $66.09 million for the quarter, compared to analyst estimates of $62.95 million. During the same quarter in the prior year, the business posted $0.04 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. Equities research analysts expect that NeoGenomics will post $0.18 EPS for the current fiscal year.
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In other NeoGenomics news, VP Jennifer Balliet sold 3,334 shares of NeoGenomics stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $7.50, for a total value of $25,005.00. Following the completion of the transaction, the vice president now directly owns 10,049 shares of the company’s stock, valued at $75,367.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alison L. Hannah acquired 20,000 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were bought at an average cost of $9.19 per share, with a total value 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 $356,406.58. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 84,890 shares of company stock valued at $665,707. 12.20% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. Janus Henderson Group PLC bought a new position in NeoGenomics during the second quarter valued at approximately $20,651,000. Janus Capital Management LLC acquired a new stake in NeoGenomics during the first quarter worth about $13,279,000. Falcon Point Capital LLC increased its stake in NeoGenomics by 338.6% in the second quarter. Falcon Point Capital LLC now owns 1,100,474 shares of the medical research company’s stock worth $9,860,000 after buying an additional 849,589 shares during the last quarter. Russell Investments Group Ltd. increased its stake in NeoGenomics by 66.1% in the second quarter. Russell Investments Group Ltd. now owns 1,996,710 shares of the medical research company’s stock worth $17,891,000 after buying an additional 794,281 shares during the last quarter. Finally, Granite Investment Partners LLC increased its stake in NeoGenomics by 52.4% in the second quarter. Granite Investment Partners LLC now owns 1,976,020 shares of the medical research company’s stock worth $17,706,000 after buying an additional 679,778 shares during the last quarter. Institutional investors and hedge funds own 82.56% of the company’s stock.
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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