$NEO

Labcorp and other testing & diagnostics services stocks reported Q2 earnings. RadNet (RDNT) reported $622.7M revenue, up 25% YoY, but stock is down 8%. NeoGenomics (NEO) reported $201.7M revenue, up 11.2%, and stock is up 26.4%. Quest (DGX) reported $3.04B revenue, up 10.2%, and stock is up 11.3%. Guardant Health (GH) reported $335M revenue, up 44.3%, and stock is up 6%.

NeoGenomics expands its digital pathology operations by adopting Indica Labs' HALO AP® platform. The cloud-based system aims to streamline workflows, reduce costs, and enhance AI integration for cancer diagnostics. NeoGenomics expects this to support future AI collaborations and clinical trials, positioning it for advancements in oncology care. The company has a long-standing relationship with Indica Labs and views this as a strategic step in integrated oncology diagnostics.

Argus lowered its target price for NeoGenomics Inc. (NEO) to $17.00. The company offers oncology diagnostic testing and consultative services. NEO provides technical lab services and professional interpretation of test results by licensed physicians or molecular experts in pathology and oncology.

Piper Sandler reiterated an Overweight rating on Neogenomics (NEO), citing its competitive position in the community oncology lab market. The firm highlighted the company's service and menu offerings, with NEO ranking first in menu completeness, turnaround, and service. NEO's stock has fallen 10% to $16.42, despite an 83% return over the past year. Recent earnings exceeded expectations, with adjusted earnings of $0.05 per share and revenue of $202 million.

NeoGenomics shares fell 12% after announcing CEO succession and Q3 revenue of $209M, beating estimates. The company maintained full-year guidance, prompting profit-taking despite a 62% YTD gain. The stock trades at 62x forward earnings, above its 5-year average. Analysts upgraded the stock with new price targets.

NeoGenomics (NEO) shares rose 3.6% premarket after announcing an executive succession plan and preliminary Q3 revenue of $209M, with next-gen sequencing revenue up 28% YoY. The company expects to raise full-year guidance. BTIG upgraded NEO to Buy with a $28 price target. Shares later fell to $17.36, down 9.1% from the previous close.

Analysts updated price targets for several companies. Goldman Sachs raised GM's target to $112, maintaining a Buy rating. Other notable changes include PTC, RYAN, NET, PENN, TEL, NEO, GS, ACN, and MYRG. Prices and ratings varied across the stocks.

StoneX maintained a Buy rating on NeoGenomics with a $20 price target, implying a 4.5% upside from the Oct 5 close. The firm cited strong revenue growth potential due to the company's leadership in cancer diagnostic testing and attractive valuation relative to peers.

Deutsche Bank upgraded Boyd Gaming (BYD) to Buy with a $99 target, NeoGenomics (NEO) to Buy with a $28 target, and PENN Entertainment (PENN) to Buy with a $25 target. BTIG upgraded NeoGenomics (NEO) to Buy and XP Inc (XP) to Outperform with a $27 target. Cantor Fitzgerald upgraded Rezolute (RZLT) to Overweight. All stocks closed lower than their new targets on Monday.

Constellation Energy (CEG) surged 6% after Google's $4.3B power agreement. Option Care Health (OPK) rose 20% on potential $5B acquisition by McKesson (MCK) and Clayton Dubilier. Lennar (LEN) gained 1.5% after Berkshire Hathaway (BRK.A) disclosed a 2.4M share purchase. NeoGenomics (NEO) climbed 5% on revenue beat and succession plan. AMD (AMD) rose 2% on Citi's $800 price target. P&G (PG) up 1.2% after Evercore ISI upgrade. Corteva (CTVA) gained 3% on JPMorgan upgrade.