NeoGenomics (NASDAQ:NEO) Downgraded by Benchmark to Hold

NeoGenomics (NASDAQ:NEO) was downgraded by research analysts at Benchmark from a “buy” rating to a “hold” rating in a research note issued on Monday,Briefing.com Automated Import reports.

A number of other brokerages have also recently weighed in on NEO. Jefferies Financial Group started coverage on shares of NeoGenomics in a research report on Tuesday, December 10th. They issued a “buy” rating and a $22.00 price target for the company. Needham & Company LLC reissued a “buy” rating and set a $19.00 price objective on shares of NeoGenomics in a research note on Friday. Finally, Bank of America increased their price target on shares of NeoGenomics from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.30.

NeoGenomics Trading Down 20.6 %

NEO opened at $14.77 on Monday. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -24.21 and a beta of 1.24. The stock’s 50 day moving average price is $16.82 and its 200-day moving average price is $15.67. NeoGenomics has a one year low of $12.77 and a one year high of $19.11. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.91 and a current ratio of 1.99.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings results on Tuesday, November 5th. The medical research company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. NeoGenomics had a negative return on equity of 2.11% and a negative net margin of 12.07%. The company had revenue of $167.80 million for the quarter, compared to the consensus estimate of $167.00 million. During the same period last year, the firm earned ($0.06) EPS. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, equities analysts forecast that NeoGenomics will post -0.16 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Alicia C. Olivo sold 5,175 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $15.36, for a total transaction of $79,488.00. Following the sale, the general counsel now owns 37,129 shares in the company, valued at $570,301.44. The trade was a 12.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nordea Investment Management AB grew its position in NeoGenomics by 2.8% in the fourth quarter. Nordea Investment Management AB now owns 77,534 shares of the medical research company’s stock worth $1,301,000 after acquiring an additional 2,125 shares in the last quarter. Versant Capital Management Inc raised its stake in NeoGenomics by 174.9% during the 4th quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 1,142 shares during the last quarter. Franklin Resources Inc. raised its stake in NeoGenomics by 2.0% during the 3rd quarter. Franklin Resources Inc. now owns 2,043,840 shares of the medical research company’s stock valued at $28,225,000 after purchasing an additional 39,740 shares during the last quarter. Geode Capital Management LLC raised its stake in NeoGenomics by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 3,051,806 shares of the medical research company’s stock valued at $45,022,000 after purchasing an additional 36,136 shares during the last quarter. Finally, State Street Corp raised its stake in shares of NeoGenomics by 1.6% in the 3rd quarter. State Street Corp now owns 4,958,582 shares of the medical research company’s stock valued at $73,139,000 after buying an additional 80,449 shares in the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

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.