NeoGenomics (NASDAQ:NEO) Price Target Raised to $16.00

NeoGenomics (NASDAQ:NEO) had its price target upped by Benchmark from $11.00 to $16.00 in a research note issued to investors on Friday, MarketBeat.com reports. Benchmark currently has a buy rating on the medical research company’s stock.

A number of other equities research analysts also recently commented on NEO. Leerink Partners upgraded NeoGenomics from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $12.00 to $25.00 in a research report on Wednesday, April 29th. Wall Street Zen upgraded NeoGenomics from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. Weiss Ratings raised NeoGenomics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. Finally, TD Cowen reaffirmed a “buy” rating on shares of NeoGenomics in a report on Wednesday, July 15th. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $14.57.

NeoGenomics Stock Performance

Shares of NASDAQ NEO opened at $13.89 on Friday. The company has a market cap of $1.81 billion, a P/E ratio of -18.04 and a beta of 1.74. NeoGenomics has a 52-week low of $4.72 and a 52-week high of $15.57. The company has a debt-to-equity ratio of 0.41, a quick ratio of 4.06 and a current ratio of 4.42. The firm’s fifty day moving average is $12.19 and its two-hundred day moving average is $10.64.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings data on Tuesday, April 28th. The medical research company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. The business had revenue of $186.67 million during the quarter, compared to the consensus estimate of $184.54 million. NeoGenomics had a negative net margin of 13.30% and a negative return on equity of 2.80%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, analysts anticipate that NeoGenomics will post -0.15 EPS for the current fiscal year.

Insider Activity

In other news, Director Lynn A. Tetrault sold 5,307 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $11.29, for a total transaction of $59,916.03. Following the sale, the director directly owned 91,422 shares in the company, valued at approximately $1,032,154.38. This represents a 5.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On NeoGenomics

Large investors have recently added to or reduced their stakes in the stock. First Light Asset Management LLC raised its position in NeoGenomics by 1.1% during the fourth quarter. First Light Asset Management LLC now owns 10,035,063 shares of the medical research company’s stock valued at $118,012,000 after purchasing an additional 107,794 shares during the period. First Trust Advisors LP purchased a new position in shares of NeoGenomics in the 1st quarter worth approximately $45,725,000. Geode Capital Management LLC boosted its holdings in shares of NeoGenomics by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 3,176,644 shares of the medical research company’s stock worth $37,364,000 after purchasing an additional 44,733 shares during the period. Dimensional Fund Advisors LP increased its position in shares of NeoGenomics by 9.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,674,335 shares of the medical research company’s stock valued at $19,842,000 after purchasing an additional 225,588 shares during the last quarter. Finally, American Capital Management Inc. increased its position in shares of NeoGenomics by 120.9% during the 3rd quarter. American Capital Management Inc. now owns 2,345,263 shares of the medical research company’s stock valued at $18,105,000 after purchasing an additional 1,283,390 shares during the last quarter. 98.50% of the stock is owned by institutional investors.

NeoGenomics Company Profile

NeoGenomics, traded on the Nasdaq under the symbol NEO, is a leading provider of cancer-focused genetic and molecular testing services. Headquartered in Fort Myers, Florida, the company operates an integrated network of CAP-accredited and CLIA-certified laboratories across the United States, Europe and Asia. NeoGenomics delivers diagnostic insights that support oncologists, pathologists and healthcare institutions in the detection, prognosis and treatment of hematologic and solid tumor cancers.

The company’s core service offerings include flow cytometry, immunohistochemistry, fluorescence in situ hybridization (FISH), karyotyping and advanced molecular assays such as next-generation sequencing (NGS) panels and polymerase chain reaction (PCR) tests.