NeoGenomics, Inc. (NASDAQ:NEO) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of NeoGenomics, Inc. (NASDAQ:NEO) have earned a consensus rating of “Moderate Buy” from the eleven research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $16.7143.

Several analysts recently issued reports on the company. TD Cowen reiterated a “buy” rating on shares of NeoGenomics in a research report on Wednesday, July 15th. Zacks Research upgraded NeoGenomics from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. Leerink Partners raised 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. Wall Street Zen upgraded shares of NeoGenomics from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. Finally, Benchmark boosted their target price on shares of NeoGenomics from $11.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, July 24th.

NeoGenomics Stock Performance

Shares of NeoGenomics stock opened at $15.94 on Monday. The company has a market capitalization of $2.05 billion, a P/E ratio of -39.85 and a beta of 1.74. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.35 and a current ratio of 3.60. The company has a fifty day moving average of $13.98 and a 200 day moving average of $10.95. NeoGenomics has a fifty-two week low of $5.94 and a fifty-two week high of $16.92.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Tuesday, July 28th. The medical research company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. NeoGenomics had a negative return on equity of 1.99% and a negative net margin of 6.77%.The business had revenue of $201.66 million for the quarter, compared to analysts’ expectations of $196.93 million. During the same period last year, the firm earned $0.03 earnings per share. The business’s quarterly revenue was up 11.2% on a year-over-year basis. On average, sell-side analysts anticipate that NeoGenomics will post -0.09 earnings per share for the current fiscal year.

Insider Activity at NeoGenomics

In other NeoGenomics news, Director Lynn A. Tetrault sold 5,307 shares of the firm’s stock in a transaction that occurred 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 owned 91,422 shares in the company, valued at $1,032,154.38. This trade represents a 5.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On NeoGenomics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. American Capital Management Inc. bought a new position in NeoGenomics during the second quarter valued at $32,648,000. Bank of New York Mellon Corp purchased a new position in shares of NeoGenomics during the 2nd quarter worth about $10,744,000. MFG Wealth Management Inc. purchased a new position in shares of NeoGenomics during the 2nd quarter worth about $1,218,000. Amundi bought a new position in NeoGenomics during the 1st quarter valued at about $157,000. Finally, California State Teachers Retirement System raised its position in NeoGenomics by 56.8% in the 1st quarter. California State Teachers Retirement System now owns 194,103 shares of the medical research company’s stock worth $1,440,000 after purchasing an additional 70,320 shares during the period. Hedge funds and other institutional investors own 98.50% of the company’s stock.

NeoGenomics Company Profile

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.