Brokerages Set NeoGenomics, Inc. (NASDAQ:NEO) Price Target at $20.30

NeoGenomics, Inc. (NASDAQ:NEO) has received an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $20.30.

NEO has been the subject of several recent analyst reports. Benchmark reaffirmed a “buy” rating and set a $18.00 price objective on shares of NeoGenomics in a research report on Tuesday, September 24th. Bank of America lifted their price target on NeoGenomics from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price objective on shares of NeoGenomics in a report on Wednesday, November 6th. Finally, Jefferies Financial Group started coverage on NeoGenomics in a research note on Tuesday, December 10th. They set a “buy” rating and a $22.00 target price for the company.

NeoGenomics Trading Down 2.6 %

NASDAQ:NEO opened at $16.83 on Wednesday. NeoGenomics has a 12-month low of $12.77 and a 12-month high of $19.00. The firm has a market cap of $2.16 billion, a PE ratio of -27.59 and a beta of 1.24. 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 fifty day moving average price of $16.07 and a 200 day moving average price of $15.39.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings data on Tuesday, November 5th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $167.00 million. During the same quarter last year, the business posted ($0.06) EPS. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. Sell-side analysts anticipate that NeoGenomics will post -0.16 earnings per share for the current fiscal year.

Insider Activity

In related news, General Counsel Alicia C. Olivo sold 5,175 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $15.36, for a total transaction of $79,488.00. Following the transaction, the general counsel now owns 37,129 shares of the company’s stock, valued at $570,301.44. This trade represents a 12.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of NeoGenomics

Several institutional investors and hedge funds have recently added to or reduced their stakes in NEO. Louisiana State Employees Retirement System lifted its stake in shares of NeoGenomics by 1.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 64,300 shares of the medical research company’s stock worth $892,000 after acquiring an additional 1,200 shares during the period. Bank of New York Mellon Corp lifted its position in NeoGenomics by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 953,875 shares of the medical research company’s stock valued at $13,230,000 after purchasing an additional 16,023 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in NeoGenomics by 36.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 29,040 shares of the medical research company’s stock valued at $403,000 after purchasing an additional 7,793 shares in the last quarter. Kopp Family Office LLC raised its stake in shares of NeoGenomics by 5.6% during the 2nd quarter. Kopp Family Office LLC now owns 944,775 shares of the medical research company’s stock worth $13,104,000 after buying an additional 50,266 shares in the last quarter. Finally, HighMark Wealth Management LLC lifted its holdings in shares of NeoGenomics by 2,993.3% in the 2nd quarter. HighMark Wealth Management LLC now owns 92,800 shares of the medical research company’s stock valued at $1,287,000 after buying an additional 89,800 shares during the period. 98.50% of the stock is owned by hedge funds and other institutional investors.

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.