NeoGenomics’ (NEO) Buy Rating Reiterated at Needham & Company LLC

NeoGenomics (NASDAQ:NEO)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a note issued to investors on Friday,Benzinga reports. They currently have a $19.00 price target on the medical research company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 26.58% from the company’s previous close.

Several other brokerages also recently commented on NEO. Bank of America raised their target price on NeoGenomics from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Jefferies Financial Group assumed coverage on shares of NeoGenomics in a research note on Tuesday, December 10th. They set a “buy” rating and a $22.00 price objective on the stock. Finally, Benchmark restated a “buy” rating and issued a $18.00 target price on shares of NeoGenomics in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $20.30.

NeoGenomics Trading Down 19.3 %

Shares of NeoGenomics stock traded down $3.60 during mid-day trading on Friday, hitting $15.01. 1,117,580 shares of the stock were exchanged, compared to its average volume of 700,841. The company has a 50-day simple moving average of $16.81 and a 200 day simple moving average of $15.63. The company has a current ratio of 1.99, a quick ratio of 1.91 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of -24.61 and a beta of 1.24. NeoGenomics has a twelve month low of $12.77 and a twelve month high of $19.11.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Tuesday, November 5th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. NeoGenomics had a negative return on equity of 2.11% and a negative net margin of 12.07%. The business had revenue of $167.80 million for the quarter, compared to analysts’ expectations of $167.00 million. During the same quarter last year, the firm earned ($0.06) earnings per share. The business’s revenue was up 10.5% on a year-over-year basis. Research analysts forecast that NeoGenomics will post -0.16 EPS for the current year.

Insider Activity at NeoGenomics

In other news, General Counsel Alicia C. Olivo sold 5,175 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $15.36, for a total value of $79,488.00. Following the completion of the sale, the general counsel now directly owns 37,129 shares of the company’s stock, valued at $570,301.44. This represents a 12.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On NeoGenomics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc boosted its holdings in NeoGenomics by 174.9% in the fourth quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company’s stock worth $30,000 after purchasing an additional 1,142 shares in the last quarter. Quarry LP bought a new stake in shares of NeoGenomics during the 3rd quarter worth about $40,000. Blue Trust Inc. increased its holdings in shares of NeoGenomics by 42.3% during the 3rd quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock valued at $46,000 after acquiring an additional 987 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of NeoGenomics in the 2nd quarter valued at approximately $57,000. Finally, KBC Group NV lifted its holdings in NeoGenomics by 33.1% in the 3rd quarter. KBC Group NV now owns 4,530 shares of the medical research company’s stock worth $67,000 after purchasing an additional 1,127 shares during the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

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.