NeoGenomics, Inc. (NASDAQ:NEO) Receives $13.86 Average PT from Brokerages

NeoGenomics, Inc. (NASDAQ:NEO) has been given a consensus rating of “Hold” by the twelve ratings firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $13.8571.

NEO has been the subject of several research analyst reports. Weiss Ratings downgraded shares of NeoGenomics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 29th. Wall Street Zen upgraded shares of NeoGenomics from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. Benchmark raised shares of NeoGenomics from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Wednesday, April 29th. Leerink Partners upgraded shares of NeoGenomics from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $12.00 to $25.00 in a report on Wednesday, April 29th. Finally, William Blair reiterated a “market perform” rating on shares of NeoGenomics in a research note on Monday, March 16th.

Insiders Place Their Bets

In other NeoGenomics news, Director Lynn A. Tetrault sold 5,307 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $11.29, for a total transaction of $59,916.03. Following the completion of the transaction, the director directly owned 91,422 shares of the company’s stock, valued at approximately $1,032,154.38. This trade represents a 5.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. First Light Asset Management LLC raised its position in NeoGenomics by 1.1% in the fourth quarter. First Light Asset Management LLC now owns 10,035,063 shares of the medical research company’s stock worth $118,012,000 after acquiring an additional 107,794 shares in the last quarter. Greenhouse Funds LLLP boosted its position in shares of NeoGenomics by 10.6% during the 3rd quarter. Greenhouse Funds LLLP now owns 8,220,657 shares of the medical research company’s stock valued at $63,463,000 after purchasing an additional 789,510 shares in the last quarter. First Trust Advisors LP acquired a new position in shares of NeoGenomics in the 1st quarter worth approximately $45,725,000. Geode Capital Management LLC grew its stake in shares of NeoGenomics by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 3,176,644 shares of the medical research company’s stock worth $37,364,000 after purchasing an additional 44,733 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of NeoGenomics by 9.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,674,335 shares of the medical research company’s stock worth $19,842,000 after purchasing an additional 225,588 shares during the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

NeoGenomics Price Performance

NEO opened at $15.16 on Friday. The stock’s 50 day moving average price is $10.48 and its 200 day moving average price is $10.41. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.42 and a quick ratio of 4.06. The stock has a market cap of $1.97 billion, a P/E ratio of -19.69 and a beta of 1.74. NeoGenomics has a 12 month low of $4.72 and a 12 month high of $15.56.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings results on Tuesday, April 28th. The medical research company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. The company had revenue of $186.67 million during the quarter, compared to analyst estimates of $184.54 million. NeoGenomics had a negative return on equity of 2.80% and a negative net margin of 13.30%.The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, research analysts predict that NeoGenomics will post -0.15 earnings per share for the current year.

About NeoGenomics

NeoGenomics, traded on the Nasdaq under the symbol NEO, is a leading provider of cancer-focused genetic and molecular testing services. Headquartered in Fort Myers, Florida, the company operates an integrated network of CAP-accredited and CLIA-certified laboratories across the United States, Europe and Asia. NeoGenomics delivers diagnostic insights that support oncologists, pathologists and healthcare institutions in the detection, prognosis and treatment of hematologic and solid tumor cancers.

The company’s core service offerings include flow cytometry, immunohistochemistry, fluorescence in situ hybridization (FISH), karyotyping and advanced molecular assays such as next-generation sequencing (NGS) panels and polymerase chain reaction (PCR) tests.