NeoGenomics (NASDAQ:NEO) Stock Rating Reaffirmed by Benchmark

NeoGenomics (NASDAQ:NEO)‘s stock had its “buy” rating reiterated by stock analysts at Benchmark in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $18.00 price target on the medical research company’s stock. Benchmark’s price objective indicates a potential upside of 17.65% from the stock’s previous close.

NEO has been the topic of a number of other reports. William Blair reissued an “outperform” rating on shares of NeoGenomics in a research note on Wednesday, February 21st. Craig Hallum assumed coverage on shares of NeoGenomics in a research note on Wednesday. They issued a “buy” rating and a $26.00 price target for the company. The Goldman Sachs Group upped their price objective on NeoGenomics from $17.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Piper Sandler increased their target price on NeoGenomics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, February 26th. Finally, Needham & Company LLC cut their price target on shares of NeoGenomics from $24.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.78.

NeoGenomics Stock Performance

NeoGenomics stock traded up $0.58 during mid-day trading on Wednesday, hitting $15.30. The company had a trading volume of 875,872 shares, compared to its average volume of 934,598. The company has a current ratio of 7.48, a quick ratio of 5.95 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of -23.18 and a beta of 1.12. The company’s fifty day moving average is $14.92 and its 200-day moving average is $15.97. NeoGenomics has a 12-month low of $11.03 and a 12-month high of $21.22.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings results on Tuesday, February 20th. The medical research company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.05. The company had revenue of $155.55 million during 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%. Equities research analysts predict that NeoGenomics will post -0.2 EPS for the current year.

Insider Activity at NeoGenomics

In other news, General Counsel Alicia C. Olivo sold 2,587 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $14.96, for a total value of $38,701.52. Following the completion of the transaction, the general counsel now owns 34,866 shares of the company’s stock, valued at $521,595.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NeoGenomics

Several institutional investors have recently added to or reduced their stakes in the business. Redwood Investments LLC acquired a new position in NeoGenomics during the fourth quarter worth approximately $2,399,000. Aigen Investment Management LP acquired a new stake in NeoGenomics in the third quarter valued at $163,000. Legato Capital Management LLC bought a new position in NeoGenomics during the 4th quarter valued at $401,000. Illinois Municipal Retirement Fund bought a new stake in shares of NeoGenomics in the 3rd quarter valued at approximately $960,000. Finally, Brown Advisory Inc. raised its holdings in shares of NeoGenomics by 25.0% during the third quarter. Brown Advisory Inc. now owns 8,246,202 shares of the medical research company’s stock worth $101,428,000 after purchasing an additional 1,651,717 shares during the period. 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.