NeoGenomics (NASDAQ:NEO) Raised to “Sell” at StockNews.com

NeoGenomics (NASDAQ:NEOGet Rating) was upgraded by StockNews.com to a “sell” rating in a research note issued on Thursday.

Several other equities research analysts also recently issued reports on the company. BTIG Research cut their price objective on NeoGenomics from $35.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, March 29th. Zacks Investment Research downgraded NeoGenomics from a “hold” rating to a “sell” rating in a report on Wednesday, May 4th. Raymond James cut their price objective on NeoGenomics from $24.00 to $18.00 and set an “outperform” rating on the stock in a report on Monday, April 18th. Morgan Stanley lowered their target price on NeoGenomics from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 12th. Finally, Bank of America cut NeoGenomics from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $25.00 to $18.00 in a research note on Tuesday, March 29th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $24.64.

NASDAQ:NEO opened at $9.74 on Thursday. NeoGenomics has a 52 week low of $7.26 and a 52 week high of $54.74. The company has a quick ratio of 7.64, a current ratio of 7.93 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $1.22 billion, a P/E ratio of -30.44 and a beta of 0.86. The stock’s fifty day moving average is $13.03 and its two-hundred day moving average is $24.28.

NeoGenomics (NASDAQ:NEOGet Rating) last posted its quarterly earnings data on Wednesday, April 27th. The medical research company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.04. The firm had revenue of $117.17 million for the quarter, compared to the consensus estimate of $116.44 million. NeoGenomics had a negative return on equity of 6.62% and a negative net margin of 7.33%. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.06) EPS. Sell-side analysts anticipate that NeoGenomics will post -0.98 earnings per share for the current fiscal year.

In other news, CFO William Bonello sold 3,209 shares of the company’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC boosted its position in shares of 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 purchasing an additional 662 shares during the period. Lindbrook Capital LLC acquired a new stake in shares of NeoGenomics in the 4th quarter valued at about $84,000. Andrew Hill Investment Advisors Inc. acquired a new stake in NeoGenomics during the 4th quarter worth approximately $88,000. Calton & Associates Inc. purchased a new position in shares of NeoGenomics in the 1st quarter valued at approximately $125,000. Finally, National Bank of Canada FI purchased a new position in shares of NeoGenomics in the 4th quarter valued at approximately $126,000. 95.03% of the stock is owned by hedge funds and other institutional investors.

About NeoGenomics (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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