NeoGenomics (NASDAQ:NEO) Rating Lowered to Sell at Zacks Investment Research

NeoGenomics (NASDAQ:NEOGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “NeoGenomics, Inc. is a high-complexity CLIA-certified clinical laboratory that specializes in cancer genetics diagnostic testing, the fastest growing segment of the laboratory industry. The company’s testing services include cytogenetics, fluorescence in-situ hybridization, flow cytometry, morphology studies, anatomic pathology and molecular genetic testing. Headquartered in Fort Myers, FL, NeoGenomics has labs in Nashville, TN, Irvine, CA and Fort Myers and services the needs of pathologists, oncologists, urologists, hospitals and other reference laboratories throughout the United States. “

NEO has been the topic of a number of other research reports. Benchmark decreased their price objective on NeoGenomics from $26.00 to $16.00 in a report on Tuesday, March 29th. Cowen cut their target price on NeoGenomics from $42.00 to $24.00 and set an “outperform” rating for the company in a research note on Tuesday, March 29th. Raymond James cut their target price on NeoGenomics from $24.00 to $18.00 and set an “outperform” rating for the company in a research note on Monday, April 18th. StockNews.com raised NeoGenomics to a “sell” rating in a research note on Saturday. Finally, Craig Hallum cut their target price on NeoGenomics from $46.00 to $30.00 in a research note on Thursday, February 24th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, NeoGenomics has an average rating of “Hold” and a consensus target price of $24.64.

Shares of NEO stock opened at $9.85 on Wednesday. The stock’s fifty day moving average is $14.86 and its two-hundred day moving average is $26.15. The company has a debt-to-equity ratio of 0.50, a quick ratio of 7.64 and a current ratio of 7.93. The firm has a market capitalization of $1.22 billion, a P/E ratio of -30.78 and a beta of 0.86. NeoGenomics has a fifty-two week low of $9.34 and a fifty-two week high of $54.74.

NeoGenomics (NASDAQ:NEOGet Rating) last announced its quarterly earnings data on Wednesday, April 27th. The medical research company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.04. The company had revenue of $117.17 million for the quarter, compared to analyst estimates of $116.44 million. NeoGenomics had a negative return on equity of 6.62% and a negative net margin of 7.33%. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.06) EPS. On average, equities analysts forecast that NeoGenomics will post -0.87 earnings per share for the current year.

In related news, CFO William Bonello sold 3,209 shares of the firm’s stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $18.29, for a total transaction of $58,692.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC grew its position in NeoGenomics by 56.9% in the 4th quarter. Quadrant Capital Group LLC now owns 1,826 shares of the medical research company’s stock valued at $62,000 after acquiring an additional 662 shares in the last quarter. Lindbrook Capital LLC purchased a new position in shares of NeoGenomics in the 4th quarter valued at about $84,000. Andrew Hill Investment Advisors Inc. purchased a new position in shares of NeoGenomics in the 4th quarter valued at about $88,000. Calton & Associates Inc. purchased a new position in shares of NeoGenomics in the 1st quarter valued at about $125,000. Finally, National Bank of Canada FI purchased a new position in shares of NeoGenomics in the 4th quarter valued at about $126,000. 95.03% of the stock is owned by institutional investors.

NeoGenomics Company Profile (Get Rating)

NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States, Europe, and Asia. It operates through, Clinical Services and Pharma Services segments. The company offers testing services to hospitals, reference labs, pathologists, oncologists, clinicians, pharmaceutical firms, and researchers.

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