NeoGenomics (NASDAQ:NEO) Now Covered by Craig Hallum

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

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

NeoGenomics Price Performance

NASDAQ:NEO opened at $13.96 on Wednesday. NeoGenomics has a 52 week low of $11.03 and a 52 week high of $21.22. The company has a quick ratio of 5.95, a current ratio of 7.48 and a debt-to-equity ratio of 0.58. The firm’s fifty day moving average is $14.99 and its 200-day moving average is $15.96.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings results on Tuesday, February 20th. The medical research company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. NeoGenomics had a negative net margin of 13.79% and a negative return on equity of 3.54%. The business had revenue of $155.55 million for the quarter, compared to analysts’ expectations of $152.90 million. On average, equities analysts forecast that NeoGenomics will post -0.2 earnings per share for the current year.

Insider Activity at NeoGenomics

In related news, General Counsel Alicia C. Olivo sold 2,587 shares of the stock in a transaction 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 completion of the sale, the general counsel now directly owns 34,866 shares of the company’s stock, valued at approximately $521,595.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On NeoGenomics

Several hedge funds have recently modified their holdings of NEO. Quadrant Capital Group LLC grew its holdings in shares of NeoGenomics by 22.0% in the fourth quarter. Quadrant Capital Group LLC now owns 4,900 shares of the medical research company’s stock valued at $79,000 after acquiring an additional 883 shares in the last quarter. Banque Cantonale Vaudoise grew its stake in NeoGenomics by 6.6% in the 1st quarter. Banque Cantonale Vaudoise now owns 15,942 shares of the medical research company’s stock valued at $251,000 after purchasing an additional 993 shares during the period. Handelsbanken Fonder AB increased its position in shares of NeoGenomics by 7.0% during the 4th quarter. Handelsbanken Fonder AB now owns 19,900 shares of the medical research company’s stock valued at $322,000 after purchasing an additional 1,300 shares during the last quarter. Yousif Capital Management LLC raised its stake in shares of NeoGenomics by 2.6% during the 4th quarter. Yousif Capital Management LLC now owns 65,447 shares of the medical research company’s stock worth $1,059,000 after purchasing an additional 1,654 shares during the period. Finally, PNC Financial Services Group Inc. raised 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 purchasing an additional 1,791 shares during the period. Institutional investors own 98.50% of the company’s stock.

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.