Gabelli Begins Coverage on NeoGenomics, Inc. (NEO)
Gabelli initiated coverage on shares of NeoGenomics, Inc. (NASDAQ:NEO) in a research note published on Thursday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $9.00 price objective on the medical research company’s stock.
A number of other equities analysts also recently weighed in on the company. Cantor Fitzgerald set a $11.00 price target on NeoGenomics and gave the stock a buy rating in a research report on Saturday, May 27th. ValuEngine raised NeoGenomics from a sell rating to a hold rating in a research report on Friday, June 23rd. BidaskClub downgraded NeoGenomics from a strong-buy rating to a buy rating in a research report on Friday, July 28th. Zacks Investment Research downgraded NeoGenomics from a hold rating to a sell rating in a research report on Tuesday, June 27th. Finally, BTIG Research reaffirmed a buy rating and set a $11.00 price target on shares of NeoGenomics in a research report on Sunday, May 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $10.17.
NeoGenomics (NASDAQ:NEO) traded down 2.63% during trading on Thursday, hitting $9.24. 207,022 shares of the stock were exchanged. The stock’s 50-day moving average price is $9.26 and its 200-day moving average price is $8.30. The firm’s market cap is $733.55 million. NeoGenomics has a 12-month low of $6.90 and a 12-month high of $9.93.
NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings data on Tuesday, July 25th. The medical research company reported $0.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.03. NeoGenomics had a positive return on equity of 6.09% and a negative net margin of 2.81%. The business had revenue of $66.09 million during the quarter, compared to analyst estimates of $62.95 million. During the same period in the previous year, the firm earned $0.04 EPS. NeoGenomics’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities analysts expect that NeoGenomics will post $0.18 EPS for the current year.
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In related news, insider Steven A. Ross sold 70,833 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $7.76, for a total value of $549,664.08. Following the sale, the insider now owns 4,500 shares in the company, valued at approximately $34,920. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jennifer Balliet sold 10,723 shares of the stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $8.49, for a total value of $91,038.27. The disclosure for this sale can be found here. 12.20% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in NeoGenomics by 1.7% in the second quarter. Vanguard Group Inc. now owns 2,724,603 shares of the medical research company’s stock worth $24,413,000 after buying an additional 44,820 shares during the period. First Light Asset Management LLC boosted its stake in NeoGenomics by 1.0% in the second quarter. First Light Asset Management LLC now owns 2,679,271 shares of the medical research company’s stock worth $24,006,000 after buying an additional 25,617 shares during the period. Janus Henderson Group PLC acquired a new stake in NeoGenomics during the second quarter worth $20,651,000. Russell Investments Group Ltd. boosted its stake in NeoGenomics by 66.1% in the second quarter. Russell Investments Group Ltd. now owns 1,996,710 shares of the medical research company’s stock worth $17,891,000 after buying an additional 794,281 shares during the period. Finally, Granite Investment Partners LLC boosted its stake in NeoGenomics by 52.4% in the second quarter. Granite Investment Partners LLC now owns 1,976,020 shares of the medical research company’s stock worth $17,706,000 after buying an additional 679,778 shares during the period. Institutional investors and hedge funds own 82.56% of the company’s stock.
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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