Zacks Research Downgrades NeoGenomics (NASDAQ:NEO) to Hold

NeoGenomics (NASDAQ:NEO) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday, Zacks reports.

A number of other equities research analysts also recently weighed in on the company. Wall Street Zen upgraded NeoGenomics from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. Craig Hallum reissued a “buy” rating and issued a $19.00 price objective on shares of NeoGenomics in a research note on Wednesday, July 29th. Weiss Ratings upgraded NeoGenomics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. TD Cowen reaffirmed a “buy” rating on shares of NeoGenomics in a research note on Wednesday, July 15th. Finally, Needham & Company LLC lifted their target price on NeoGenomics from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $17.67.

NeoGenomics Price Performance

Shares of NASDAQ NEO opened at $18.74 on Monday. The stock has a market cap of $2.41 billion, a P/E ratio of -46.85 and a beta of 1.75. The firm’s 50-day simple moving average is $17.03 and its 200 day simple moving average is $12.59. NeoGenomics has a fifty-two week low of $7.07 and a fifty-two week high of $20.05. The company has a quick ratio of 3.35, a current ratio of 3.60 and a debt-to-equity ratio of 0.48.

NeoGenomics (NASDAQ:NEO) last announced its earnings results on Tuesday, July 28th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. NeoGenomics had a negative net margin of 6.77% and a negative return on equity of 1.99%. The firm had revenue of $201.66 million during the quarter, compared to analyst estimates of $196.93 million. During the same quarter in the prior year, the firm posted $0.03 EPS. NeoGenomics’s revenue was up 11.2% compared to the same quarter last year. Equities analysts expect that NeoGenomics will post -0.09 EPS for the current year.

Institutional Investors Weigh In On NeoGenomics

Several large investors have recently modified their holdings of NEO. First Light Asset Management LLC increased its stake in NeoGenomics by 26.2% in the 2nd quarter. First Light Asset Management LLC now owns 12,279,523 shares of the medical research company’s stock worth $179,158,000 after purchasing an additional 2,549,545 shares in the last quarter. First Trust Advisors LP acquired a new stake in shares of NeoGenomics during the first quarter valued at approximately $45,725,000. Dimensional Fund Advisors LP boosted its stake in NeoGenomics by 9.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,674,335 shares of the medical research company’s stock worth $19,842,000 after purchasing an additional 225,588 shares during the period. GW&K Investment Management LLC grew its position in NeoGenomics by 7.5% during the 4th quarter. GW&K Investment Management LLC now owns 2,238,767 shares of the medical research company’s stock worth $26,328,000 after purchasing an additional 155,882 shares in the last quarter. Finally, American Capital Management Inc. acquired a new stake in shares of NeoGenomics in the second quarter worth $32,648,000. 98.50% of the stock is owned by institutional investors.

NeoGenomics Company Profile

NeoGenomics, Inc is a provider of cancer-focused diagnostic testing and contract research services. The company operates clinical laboratories that support physicians, hospitals and other healthcare organizations with information used to help diagnose, classify and monitor cancer.

Its testing services include anatomic pathology, immunohistochemistry, flow cytometry, cytogenetics, fluorescence in situ hybridization, molecular testing and next-generation sequencing. NeoGenomics also provides biopharmaceutical companies with clinical trial testing, central laboratory services, biomarker development and other research services intended to support the development of oncology therapies and companion diagnostics.

Founded in 1999, NeoGenomics serves healthcare providers and pharmaceutical and biotechnology customers primarily in the United States, with additional capabilities supporting international clinical research programs.