NeoGenomics (NASDAQ:NEO) Price Target Raised to $19.00 at Bank of America

NeoGenomics (NASDAQ:NEO) had its price target upped by equities researchers at Bank of America from $18.00 to $19.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the medical research company’s stock. Bank of America‘s target price suggests a potential upside of 7.65% from the company’s previous close.

A number of other brokerages have also recently commented on NEO. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price objective on shares of NeoGenomics in a research note on Wednesday, November 6th. Benchmark restated a “buy” rating and set a $18.00 target price on shares of NeoGenomics in a research report on Tuesday, September 24th. Finally, Jefferies Financial Group assumed coverage on NeoGenomics in a research note on Tuesday. They issued a “buy” rating and a $22.00 price target for the company. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, NeoGenomics currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.30.

NeoGenomics Trading Down 1.4 %

NASDAQ:NEO traded down $0.25 on Friday, hitting $17.65. 91,303 shares of the stock were exchanged, compared to its average volume of 797,365. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of -28.97 and a beta of 1.24. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.91 and a current ratio of 1.99. NeoGenomics has a 52 week low of $12.77 and a 52 week high of $21.22. The company’s 50-day moving average price is $15.31 and its 200 day moving average price is $15.11.

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

Insider Activity at NeoGenomics

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 5,175 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $15.36, for a total value of $79,488.00. Following the sale, the general counsel now owns 37,129 shares in the company, valued at approximately $570,301.44. The trade was a 12.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.30% of the stock is owned by insiders.

Institutional Trading of NeoGenomics

A number of hedge funds and other institutional investors have recently made changes to their positions in NEO. Loomis Sayles & Co. L P bought a new position in NeoGenomics in the third quarter valued at $17,807,000. Segall Bryant & Hamill LLC grew its holdings in shares of NeoGenomics by 67.0% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,893,407 shares of the medical research company’s stock valued at $27,928,000 after acquiring an additional 759,524 shares in the last quarter. First Light Asset Management LLC grew its holdings in shares of NeoGenomics by 14.5% in the 2nd quarter. First Light Asset Management LLC now owns 3,782,561 shares of the medical research company’s stock valued at $52,464,000 after acquiring an additional 480,396 shares in the last quarter. Bellevue Group AG raised its holdings in NeoGenomics by 34.2% during the third quarter. Bellevue Group AG now owns 1,612,612 shares of the medical research company’s stock worth $23,786,000 after acquiring an additional 410,516 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in NeoGenomics by 7.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,324,624 shares of the medical research company’s stock worth $46,108,000 after acquiring an additional 217,687 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

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.