NeoGenomics (NASDAQ:NEO) Rating Lowered to Hold at Benchmark

NeoGenomics (NASDAQ:NEO) was downgraded by equities researchers at Benchmark from a “buy” rating to a “hold” rating in a research report issued on Monday, MarketBeat reports.

Several other equities research analysts have also commented on NEO. Jefferies Financial Group began coverage on shares of NeoGenomics in a research note on Tuesday, December 10th. They issued a “buy” rating and a $22.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price objective on shares of NeoGenomics in a research report on Friday, January 10th. Finally, Bank of America increased their price objective on NeoGenomics from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $20.30.

NeoGenomics Stock Performance

NeoGenomics stock opened at $13.78 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.99 and a quick ratio of 1.91. NeoGenomics has a 12-month low of $12.13 and a 12-month high of $19.11. The firm’s fifty day moving average price is $16.77 and its 200 day moving average price is $15.67. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of -22.59 and a beta of 1.24.

NeoGenomics (NASDAQ:NEO) last issued its earnings results on Tuesday, November 5th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The business had revenue of $167.80 million for the quarter, compared to analyst estimates of $167.00 million. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.06) EPS. On average, research analysts forecast that NeoGenomics will post -0.16 EPS for the current fiscal year.

Insider Buying and Selling

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 5,175 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $15.36, for a total value of $79,488.00. Following the completion of the transaction, the general counsel now directly owns 37,129 shares of the company’s stock, valued at approximately $570,301.44. The trade was a 12.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NeoGenomics

Institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp grew its position in shares of NeoGenomics by 1.6% during the 3rd quarter. State Street Corp now owns 4,958,582 shares of the medical research company’s stock worth $73,139,000 after buying an additional 80,449 shares during the period. First Light Asset Management LLC increased its holdings in shares of NeoGenomics by 14.5% in the second quarter. First Light Asset Management LLC now owns 3,782,561 shares of the medical research company’s stock worth $52,464,000 after acquiring an additional 480,396 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of NeoGenomics by 7.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,324,624 shares of the medical research company’s stock worth $46,108,000 after acquiring an additional 217,687 shares in the last quarter. American Century Companies Inc. raised its position in shares of NeoGenomics by 5.4% during the second quarter. American Century Companies Inc. now owns 3,261,756 shares of the medical research company’s stock worth $45,241,000 after purchasing an additional 167,145 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of NeoGenomics by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 3,051,806 shares of the medical research company’s stock valued at $45,022,000 after purchasing an additional 36,136 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

About NeoGenomics

NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States and the United Kingdom. It operates through Clinical Services and Advanced Diagnostics segments. The company offers testing services to hospitals, academic centers, pathologists, oncologists, clinicians, pharmaceutical companies, and clinical laboratories.