Blurbs

Needham downgrades NeoGenomics (NEO) to a Hold

NeoGenomics (NEOResearch Report) received a Hold rating and price target from Needham analyst Michael Matson today. The company’s shares closed last Friday at $11.14.

According to TipRanks, Matson is a 4-star analyst with an average return of 3.6% and a 50.00% success rate. Matson covers the Healthcare sector, focusing on stocks such as Resmed, Boston Scientific, and Haemonetics.

In addition to Needham, NeoGenomics also received a Hold from BTIG’s Mark Massaro in a report issued on August 10. However, on August 17, Piper Sandler maintained a Buy rating on NeoGenomics (NASDAQ: NEO).

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NEO market cap is currently $1.39B and has a P/E ratio of -9.37.

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NeoGenomics, Inc. is a clinical laboratory, which specializes in cancer genetics diagnostic testing and pharma services. It operates through the following two segments: Clinical and Pharma Services. The Clinical Services segment offers clinical cancer testing services to community-based pathologists. The Pharma Services segments supports pharmaceutical firms in their drug development programs by supporting various clinical trials and research. The Clinical Services Segment provides various clinical testing services to community-based pathology practices, hospital pathology labs and academic centers with reimbursement from various payers including client direct billing, commercial insurance, Medicare and other government payers, and patients. The Pharma Services segment: provides comprehensive testing services in supports pharmaceutical clients’ oncology programs from discovery to commercialization. Its services include cytogenetics, fluorescence in-situ hybridization, flow cytometry, immunohistochemistry, anatomic pathology and molecular genetic testing. The company was founded by Michael T. Dent on October 29, 1998 and is headquartered in Fort Myers, FL.

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