NeoGenomics, Inc. (NASDAQ:NEO) Receives Average Recommendation of “Moderate Buy” from Brokerages

NeoGenomics, Inc. (NASDAQ:NEO) has received a consensus rating of “Moderate Buy” from the ten research firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $19.50.

Several equities research analysts recently issued reports on NEO shares. William Blair reiterated an “outperform” rating on shares of NeoGenomics in a report on Wednesday, February 21st. Needham & Company LLC lifted their target price on shares of NeoGenomics from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. TD Cowen lowered their price target on shares of NeoGenomics from $22.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday, December 29th. BTIG Research lowered their price target on shares of NeoGenomics from $25.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, December 29th. Finally, The Goldman Sachs Group boosted their price target on shares of NeoGenomics from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd.

Insider Activity at NeoGenomics

In related news, General Counsel Alicia C. Olivo sold 2,587 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $14.96, for a total value of $38,701.52. Following the completion of the transaction, the general counsel now directly owns 34,866 shares in the company, valued at $521,595.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NeoGenomics

Hedge funds have recently made changes to their positions in the stock. Brown Advisory Inc. boosted its position in shares of NeoGenomics by 25.0% during the third quarter. Brown Advisory Inc. now owns 8,246,202 shares of the medical research company’s stock worth $101,428,000 after buying an additional 1,651,717 shares during the period. First Light Asset Management LLC boosted its position in shares of NeoGenomics by 29.6% during the fourth quarter. First Light Asset Management LLC now owns 3,926,756 shares of the medical research company’s stock worth $63,535,000 after buying an additional 897,843 shares during the period. Norges Bank purchased a new position in NeoGenomics during the 4th quarter valued at about $14,512,000. Schroder Investment Management Group boosted its holdings in NeoGenomics by 26.7% during the 3rd quarter. Schroder Investment Management Group now owns 2,513,307 shares of the medical research company’s stock valued at $30,914,000 after acquiring an additional 529,178 shares during the period. Finally, Jennison Associates LLC purchased a new position in NeoGenomics during the 3rd quarter valued at about $6,176,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

NeoGenomics Price Performance

NeoGenomics stock opened at $14.16 on Friday. The company’s fifty day moving average price is $15.08 and its 200 day moving average price is $15.91. NeoGenomics has a 1 year low of $11.03 and a 1 year high of $21.22. The stock has a market capitalization of $1.81 billion, a P/E ratio of -20.23 and a beta of 1.10. The company has a debt-to-equity ratio of 0.57, a quick ratio of 5.95 and a current ratio of 6.20.

NeoGenomics (NASDAQ:NEO) last announced its earnings results on Tuesday, February 20th. The medical research company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.05. NeoGenomics had a negative net margin of 14.87% and a negative return on equity of 4.13%. The business had revenue of $155.55 million for the quarter, compared to analyst estimates of $152.90 million. As a group, equities research analysts anticipate that NeoGenomics will post -0.2 earnings per share for the current fiscal year.

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.