NeoGenomics (NASDAQ:NEO) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of NeoGenomics (NASDAQ:NEO) from a hold rating to a strong-buy rating in a research report report published on Monday morning,Zacks.com reports.

Several other research firms have also commented on NEO. Leerink Partners set a $14.00 price objective on NeoGenomics in a research note on Tuesday, October 28th. Needham & Company LLC reissued a “buy” rating and issued a $14.00 target price on shares of NeoGenomics in a report on Monday. Cowen reaffirmed a “buy” rating on shares of NeoGenomics in a report on Wednesday, January 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NeoGenomics in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $12.00.

NeoGenomics Stock Up 0.9%

Shares of NEO stock traded up $0.11 during mid-day trading on Monday, hitting $13.04. The company’s stock had a trading volume of 592,168 shares, compared to its average volume of 1,851,271. NeoGenomics has a 52-week low of $4.72 and a 52-week high of $16.18. The business has a 50-day moving average price of $11.68 and a 200 day moving average price of $9.15. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.62 and a current ratio of 3.91. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of -14.88 and a beta of 1.58.

NeoGenomics (NASDAQ:NEO) last posted its earnings results on Tuesday, October 28th. The medical research company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01. The business had revenue of $187.80 million for the quarter, compared to analysts’ expectations of $183.85 million. NeoGenomics had a negative net margin of 16.00% and a negative return on equity of 3.36%. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.05 EPS. NeoGenomics has set its FY 2025 guidance at 0.080-0.120 EPS. Research analysts predict that NeoGenomics will post -0.2 EPS for the current fiscal year.

Insider Transactions at NeoGenomics

In other NeoGenomics news, EVP Alicia C. Olivo sold 20,916 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $12.00, for a total transaction of $250,992.00. Following the completion of the transaction, the executive vice president owned 31,083 shares in the company, valued at $372,996. The trade was a 40.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada lifted its holdings in NeoGenomics by 51.2% during the 1st quarter. Royal Bank of Canada now owns 56,026 shares of the medical research company’s stock valued at $532,000 after buying an additional 18,966 shares in the last quarter. AQR Capital Management LLC purchased a new position in NeoGenomics during the 1st quarter worth $271,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in NeoGenomics by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 75,798 shares of the medical research company’s stock valued at $719,000 after purchasing an additional 3,254 shares in the last quarter. Intech Investment Management LLC lifted its holdings in shares of NeoGenomics by 19.7% in the 1st quarter. Intech Investment Management LLC now owns 151,806 shares of the medical research company’s stock worth $1,441,000 after buying an additional 24,965 shares during the period. Finally, Moody National Bank Trust Division grew its position in shares of NeoGenomics by 4.6% during the 2nd quarter. Moody National Bank Trust Division now owns 89,249 shares of the medical research company’s stock worth $652,000 after buying an additional 3,902 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors.

NeoGenomics Company Profile

NeoGenomics, traded on the Nasdaq under the symbol NEO, is a leading provider of cancer-focused genetic and molecular testing services. Headquartered in Fort Myers, Florida, the company operates an integrated network of CAP-accredited and CLIA-certified laboratories across the United States, Europe and Asia. NeoGenomics delivers diagnostic insights that support oncologists, pathologists and healthcare institutions in the detection, prognosis and treatment of hematologic and solid tumor cancers.

The company’s core service offerings include flow cytometry, immunohistochemistry, fluorescence in situ hybridization (FISH), karyotyping and advanced molecular assays such as next-generation sequencing (NGS) panels and polymerase chain reaction (PCR) tests.