NeoGenomics (NASDAQ:NEO) Downgraded by Benchmark to Hold

NeoGenomics (NASDAQ:NEO - Get Free Report) was downgraded by analysts at Benchmark from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Monday, MarketBeat reports.

Other analysts have also issued research reports about the company. Needham & Company LLC reiterated a "buy" rating and issued a $19.00 target price on shares of NeoGenomics in a research note on Friday. 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 target on the stock. Finally, Bank of America lifted their price objective on shares of NeoGenomics from $18.00 to $19.00 and gave the company a "neutral" rating in a report on Friday, December 13th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.30.

NeoGenomics Trading Down 14.5 %

Shares of NASDAQ:NEO traded down $2.14 during trading on Monday, hitting $12.63. The company had a trading volume of 3,528,324 shares, compared to its average volume of 1,318,503. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -20.70 and a beta of 1.24. 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 company has a fifty day simple moving average of $16.82 and a two-hundred day simple moving average of $15.67. NeoGenomics has a one year low of $12.13 and a one year high of $19.11.

NeoGenomics (NASDAQ:NEO - Get Free Report) last announced 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 business had revenue of $167.80 million for the quarter, compared to the consensus estimate of $167.00 million. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. The business's revenue for the quarter was up 10.5% on a year-over-year basis. As a group, equities analysts forecast that NeoGenomics will post -0.16 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On NeoGenomics

Several institutional investors have recently bought and sold shares of NEO. Versant Capital Management Inc lifted its holdings in shares of 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. Quarry LP acquired a new position in NeoGenomics during the 3rd quarter valued at approximately $40,000. Blue Trust Inc. raised its holdings 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 worth $46,000 after buying an additional 987 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of NeoGenomics during the second quarter worth $57,000. Finally, KBC Group NV grew its holdings in shares of NeoGenomics by 33.1% during the third quarter. KBC Group NV now owns 4,530 shares of the medical research company's stock valued at $67,000 after buying an additional 1,127 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

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.