Neogenomics (NASDAQ: NEO) Benzinga reported that equity research analysts at Needham & Company LLC lowered its target price from USD 48.00 to USD 41.00 in a report released on Tuesday. The company currently has a “Buy” rating for the medical research company’s stock. Needham & Company LLC’s price target suggests a potential upside of 29.71% from the stock’s previous closing price.
Several other research analysts recently rated the stock as well. Raymond James upgraded NeoGenomics shares from a “market perform” rating to an “outperform” rating and set a price target of $ 53.00 for the stock in a research report on Thursday, October 14th. SVB Leerink lowered its price target for NeoGenomics shares from USD 63.00 to USD 60.00 and determined an “outperform” rating for the share in a research report dated Friday, November 5th. Benchmark raised its price target for NeoGenomics shares from USD 46.00 to USD 50.00 and rated the company as a “Buy” in a research report on Thursday, August 26th. Morgan Stanley named NeoGenomics in a research report dated Friday the 5th. Finally, Stephens lowered his price target on NeoGenomics shares from $ 60.00 to $ 53.00 and rated the stock in a research report dated Friday November 5th as “overweight”. Two research analysts have given the share a hold rating and nine have given it a buy rating. The stock has a consensus rating of “Buy” and a consensus price target of $ 54.11, according to MarketBeat.com.
NEO shares opened at $ 31.61 on Tuesday. NeoGenomics has a 52-week low of $ 29.66 and a 52-week high of $ 61.57. The company has a quick ratio of 7.42, a current ratio of 7.66, and debt of 0.47. The company’s fifty-day moving average is $ 41.78 and the company’s 200-day moving average is $ 43.94. The stock has a market cap of $ 3.89 billion, a P / E of 87.81, and a beta of 0.64.
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NeoGenomics (NASDAQ: NEO) last announced its earnings results on Thursday November 4th. The medical research firm reported earnings per share (EPS) for the quarter ($ 0.08), beating consensus estimate of ($ 0.09) by $ 0.01. The company had revenue of $ 121.30 million for the quarter, compared to analyst expectations of $ 125.09 million. NeoGenomics had a net margin of 10.08% and a negative return on equity of 1.33%. The company’s quarterly sales were down 3.3% year-on-year. In the same quarter last year, the company achieved $ 0.04 EPS. As a group, research analysts assume that NeoGenomics will achieve earnings per share of -0.4 for the current year.
In other news, insider Douglas Matthew Brown sold 33,333 shares in the company in a transaction dated Tuesday, Nov. 23. The stock sold at an average price of $ 37.19 for a total transaction of $ 1,239,654.27. The sale was announced in a filing with the Securities & Exchange Commission, which can be accessed via this link. Additionally, CEO Mark Mallon acquired 17,000 shares of the stock in a transaction dated Monday, December 6th. The shares were purchased at an average price of $ 30.63 per share for a total value of $ 520,710.00. The disclosure for this purchase can be found here. 4.70% of the shares are currently owned by insiders.
A number of institutional investors and hedge funds have recently changed their positions in the stock. HighMark Wealth Management LLC increased its stake in NeoGenomics by 8.0% in the third quarter. HighMark Wealth Management LLC now owns 2,988 shares in the medical research firm, valued at $ 144,000, after buying an additional 221 shares last quarter. Kestra Advisory Services LLC increased its stake in NeoGenomics by 4.8% in the third quarter. Kestra Advisory Services LLC now owns 5,550 shares in the medical research company valued at $ 268,000 after purchasing an additional 254 shares last quarter. US Bancorp DE increased its stake in NeoGenomics by 0.9% in the second quarter. US Bancorp DE now owns 29,985 shares in the medical research firm valued at $ 1,355,000 after buying an additional 268 shares last quarter. First Mercantile Trust Co. increased its stake in NeoGenomics by 9.7% in the second quarter. First Mercantile Trust Co. now owns 3,078 shares in the medical research company, valued at $ 139,000, after purchasing an additional 273 shares last quarter. Finally, Wrapmanager Inc. increased its stake in NeoGenomics by 3.9% in the second quarter. Wrapmanager Inc. now owns 7,367 shares in the medical research company, valued at $ 333,000, after purchasing an additional 277 shares last quarter. 89.98% of the shares are owned by hedge funds and other institutional investors.
NeoGenomics company profile
NeoGenomics, Inc. is a clinical laboratory company engaged in cancer genetics diagnostic testing and pharmaceutical services. It operates through the Clinical Services and Pharma Services segments. The Clinical Services segment provides cancer testing services to community pathologists, hospitals, academic centers, and oncology groups.
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