NeoGenomics (NASDAQ:NEO) Downgraded to Hold Rating by Benchmark

Benchmark downgraded shares of NeoGenomics (NASDAQ:NEO) from a buy rating to a hold rating in a research report released on Monday, Marketbeat reports.

A number of other research analysts also recently issued reports on NEO. Bank of America raised their price target on NeoGenomics from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 price objective on shares of NeoGenomics in a research note on Friday. Finally, Jefferies Financial Group initiated coverage on shares of NeoGenomics in a research note on Tuesday, December 10th. They issued a “buy” rating and a $22.00 price objective on the stock. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $20.30.

NeoGenomics Stock Performance

NASDAQ NEO opened at $12.63 on Monday. The company has a market cap of $1.62 billion, a P/E ratio of -20.70 and a beta of 1.24. NeoGenomics has a 1-year low of $12.13 and a 1-year high of $19.11. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.99 and a quick ratio of 1.91. The stock has a 50-day moving average of $16.79 and a two-hundred day moving average of $15.67.

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

Insider Activity at NeoGenomics

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

Institutional Trading of NeoGenomics

Several large investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc lifted its position in shares of 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 purchasing an additional 1,142 shares in the last quarter. Quarry LP bought a new position in NeoGenomics in the third quarter worth about $40,000. Blue Trust Inc. increased its stake in shares of NeoGenomics by 42.3% in the third quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock valued at $46,000 after purchasing an additional 987 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of NeoGenomics during the second quarter valued at about $57,000. Finally, KBC Group NV lifted its position in NeoGenomics by 33.1% in the third quarter. KBC Group NV now owns 4,530 shares of the medical research company’s stock worth $67,000 after purchasing an additional 1,127 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

About NeoGenomics

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.