NeoGenomics (NASDAQ:NEO) Research Coverage Started at Craig Hallum

Craig Hallum assumed coverage on shares of NeoGenomics (NASDAQ:NEO) in a research note issued to investors on Wednesday morning, MarketBeat reports. The firm issued a buy rating and a $26.00 price target on the medical research company’s stock.

Several other equities analysts have also weighed in on NEO. Needham & Company LLC cut their target price on NeoGenomics from $24.00 to $19.00 and set a buy rating on the stock in a research note on Tuesday. William Blair reissued an outperform rating on shares of NeoGenomics in a research note on Wednesday, February 21st. The Goldman Sachs Group increased their target price on NeoGenomics from $17.00 to $19.00 and gave the company a buy rating in a research note on Thursday, February 22nd. Finally, Piper Sandler increased their target price on NeoGenomics from $18.00 to $20.00 and gave the company an overweight rating in a research note on Monday, February 26th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, NeoGenomics presently has a consensus rating of Moderate Buy and an average price target of $19.78.

NeoGenomics Stock Performance

NeoGenomics stock opened at $15.30 on Wednesday. The business’s 50-day simple moving average is $14.92 and its 200 day simple moving average is $15.97. NeoGenomics has a 12-month low of $11.03 and a 12-month high of $21.22. The company has a current ratio of 7.48, a quick ratio of 5.95 and a debt-to-equity ratio of 0.58.

NeoGenomics (NASDAQ:NEO) last posted its quarterly 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. The business had revenue of $155.55 million for the quarter, compared to analysts’ expectations of $152.90 million. NeoGenomics had a negative return on equity of 3.54% and a negative net margin of 13.79%. On average, equities analysts predict that NeoGenomics will post -0.19 EPS for the current fiscal year.

Insider Activity at NeoGenomics

In related news, General Counsel Alicia C. Olivo sold 2,587 shares of NeoGenomics 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 sale, the general counsel now owns 34,866 shares of the company’s stock, valued at approximately $521,595.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On NeoGenomics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Jennison Associates LLC grew its stake in NeoGenomics by 77.8% in the first quarter. Jennison Associates LLC now owns 1,051,627 shares of the medical research company’s stock valued at $16,532,000 after purchasing an additional 460,071 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of NeoGenomics by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 21,247 shares of the medical research company’s stock worth $334,000 after acquiring an additional 1,791 shares during the period. Oak Family Advisors LLC boosted its stake in shares of NeoGenomics by 7.7% during the 1st quarter. Oak Family Advisors LLC now owns 107,641 shares of the medical research company’s stock worth $1,692,000 after acquiring an additional 7,663 shares during the period. Banque Cantonale Vaudoise boosted its stake in shares of NeoGenomics by 6.6% during the 1st quarter. Banque Cantonale Vaudoise now owns 15,942 shares of the medical research company’s stock worth $251,000 after acquiring an additional 993 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in shares of NeoGenomics by 27.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,434 shares of the medical research company’s stock worth $136,000 after acquiring an additional 1,791 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

About NeoGenomics

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.