NeoGenomics (NASDAQ:NEO) Lowered to “Hold” Rating by Benchmark

Benchmark downgraded shares of NeoGenomics (NASDAQ:NEO) from a buy rating to a hold rating in a research note released on Monday, MarketBeat Ratings reports.

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

NeoGenomics Trading Up 6.7 %

Shares of NeoGenomics stock opened at $14.71 on Monday. The firm has a 50-day simple moving average of $16.75 and a two-hundred day simple moving average of $15.66. The company has a current ratio of 1.99, a quick ratio of 1.91 and a debt-to-equity ratio of 0.37. NeoGenomics has a fifty-two week low of $12.13 and a fifty-two week high of $19.11.

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

Insider Buying and Selling at NeoGenomics

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 5,175 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $15.36, for a total transaction of $79,488.00. Following the transaction, the general counsel now 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Arizona State Retirement System raised its stake in NeoGenomics by 2.0% during the second quarter. Arizona State Retirement System now owns 35,739 shares of the medical research company’s stock worth $496,000 after purchasing an additional 708 shares during the period. Texas Permanent School Fund Corp increased its holdings in shares of NeoGenomics by 12.7% during the 2nd quarter. Texas Permanent School Fund Corp now owns 125,705 shares of the medical research company’s stock worth $1,742,000 after buying an additional 14,148 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of NeoGenomics by 5.4% during the 2nd quarter. American Century Companies Inc. now owns 3,261,756 shares of the medical research company’s stock worth $45,241,000 after buying an additional 167,145 shares during the last quarter. Federated Hermes Inc. raised its position in shares of NeoGenomics by 8.9% during the 2nd quarter. Federated Hermes Inc. now owns 142,587 shares of the medical research company’s stock valued at $1,978,000 after buying an additional 11,599 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its holdings in NeoGenomics by 3.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 32,505 shares of the medical research company’s stock valued at $451,000 after acquiring an additional 1,030 shares during the last quarter. Hedge funds and other 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.