NeoGenomics (NEO) Upgraded to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of NeoGenomics (NASDAQ:NEO) from a sell rating to a hold rating in a research note released on Thursday.
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. “
Several other research analysts also recently commented on the stock. BidaskClub upgraded shares of NeoGenomics from a sell rating to a hold rating in a report on Monday, February 5th. Royal Bank of Canada set a $23.00 target price on shares of NeoGenomics and gave the stock an outperform rating in a report on Wednesday, January 3rd. Scotiabank set a $22.00 target price on shares of NeoGenomics and gave the stock an outperform rating in a report on Wednesday, January 3rd. Finally, CIBC set a $19.00 target price on shares of NeoGenomics and gave the stock a neutral rating in a report on Wednesday, January 3rd. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. NeoGenomics has a consensus rating of Buy and a consensus target price of $15.83.
NeoGenomics (NASDAQ:NEO) last released its quarterly earnings results on Wednesday, February 21st. The medical research company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. The business had revenue of $67.79 million for the quarter, compared to the consensus estimate of $66.32 million. NeoGenomics had a negative net margin of 1.37% and a positive return on equity of 4.37%. NeoGenomics’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.05 EPS. equities research analysts anticipate that NeoGenomics will post 0.09 EPS for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Fairpointe Capital LLC bought a new position in NeoGenomics in the 4th quarter worth $2,464,000. Segall Bryant & Hamill LLC raised its holdings in NeoGenomics by 16.1% in the 4th quarter. Segall Bryant & Hamill LLC now owns 434,428 shares of the medical research company’s stock worth $3,849,000 after acquiring an additional 60,360 shares during the period. MetLife Investment Advisors LLC bought a new position in NeoGenomics in the 4th quarter worth $235,000. Stone Ridge Asset Management LLC bought a new position in NeoGenomics in the 4th quarter worth $281,000. Finally, Guggenheim Capital LLC increased its holdings in shares of NeoGenomics by 46.6% during the 4th quarter. Guggenheim Capital LLC now owns 39,457 shares of the medical research company’s stock worth $351,000 after purchasing an additional 12,538 shares during the period. Hedge funds and other institutional investors own 83.24% of the company’s stock.
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NeoGenomics Company Profile
NeoGenomics, Inc is an operator of a network of cancer-focused genetic testing laboratories. The Company operates in Laboratory Testing Segment. This segment delivers testing services to hospitals, pathologists, oncologists, other clinicians and researchers. It has laboratory locations in Ft. Myers and Tampa, Florida; Aliso Viejo, Fresno, Irvine, and West Sacramento, California; Houston, Texas and Nashville, and Tennessee.
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