NeoGenomics (NASDAQ:NEO) Downgraded to “Sell” Rating by StockNews.com

StockNews.com downgraded shares of NeoGenomics (NASDAQ:NEO) from a hold rating to a sell rating in a report issued on Monday.

Other equities research analysts have also recently issued reports about the company. Benchmark cut NeoGenomics from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Leerink Partnrs downgraded NeoGenomics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 30th. Piper Sandler dropped their price objective on shares of NeoGenomics from $21.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Leerink Partners cut shares of NeoGenomics from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $25.00 to $9.00 in a research note on Wednesday, April 30th. Finally, Bank of America dropped their price target on shares of NeoGenomics from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $14.50.

NeoGenomics Stock Up 1.8 %

Shares of NEO opened at $7.84 on Monday. The company has a quick ratio of 1.91, a current ratio of 1.98 and a debt-to-equity ratio of 0.38. The business has a fifty day moving average of $9.35 and a 200 day moving average of $13.22. The company has a market cap of $1.01 billion, a PE ratio of -12.64 and a beta of 1.41. NeoGenomics has a 52-week low of $6.08 and a 52-week high of $19.12.

NeoGenomics (NASDAQ:NEO) last released its earnings results on Tuesday, April 29th. The medical research company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The business had revenue of $168.04 million for the quarter, compared to the consensus estimate of $171.38 million. NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.02) earnings per share. On average, sell-side analysts expect that NeoGenomics will post -0.2 EPS for the current year.

Institutional Investors Weigh In On NeoGenomics

Several large investors have recently modified their holdings of NEO. SBI Securities Co. Ltd. acquired a new position in shares of NeoGenomics during the 4th quarter worth $26,000. Versant Capital Management Inc boosted its position in NeoGenomics by 174.9% during the fourth quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company’s stock worth $30,000 after acquiring an additional 1,142 shares during the last quarter. CWM LLC grew its position in shares of NeoGenomics by 42.6% in the first quarter. CWM LLC now owns 6,299 shares of the medical research company’s stock valued at $60,000 after purchasing an additional 1,883 shares during the period. Sterling Capital Management LLC raised its stake in NeoGenomics by 788.7% during the fourth quarter. Sterling Capital Management LLC now owns 3,706 shares of the medical research company’s stock worth $61,000 after purchasing an additional 3,289 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in NeoGenomics by 203.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,156 shares of the medical research company’s stock worth $70,000 after acquiring an additional 2,787 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

NeoGenomics Company Profile

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.