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

NeoGenomics, Inc. (NASDAQ:NEO) has earned a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $17.6667.

A number of analysts have recently weighed in on the stock. Zacks Research raised shares of NeoGenomics from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. TD Cowen reissued a “buy” rating on shares of NeoGenomics in a research note on Wednesday, July 15th. Wall Street Zen upgraded shares of NeoGenomics from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. Craig Hallum restated a “buy” rating and set a $19.00 target price on shares of NeoGenomics in a research note on Wednesday, July 29th. Finally, Needham & Company LLC raised their target price on NeoGenomics from $15.00 to $19.00 and gave the company a “buy” rating in a report on Wednesday, July 29th.

Institutional Trading of NeoGenomics

Several institutional investors and hedge funds have recently modified their holdings of the business. First Light Asset Management LLC raised its stake in NeoGenomics by 26.2% during the second quarter. First Light Asset Management LLC now owns 12,279,523 shares of the medical research company’s stock worth $179,158,000 after acquiring an additional 2,549,545 shares in the last quarter. First Trust Advisors LP acquired a new position in NeoGenomics during the 1st quarter worth approximately $45,725,000. American Capital Management Inc. acquired a new position in NeoGenomics during the 2nd quarter worth approximately $32,648,000. GW&K Investment Management LLC increased its position in NeoGenomics by 7.5% during the 4th quarter. GW&K Investment Management LLC now owns 2,238,767 shares of the medical research company’s stock worth $26,328,000 after purchasing an additional 155,882 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in 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 valued at $19,842,000 after purchasing an additional 225,588 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

NeoGenomics Stock Up 5.0%

Shares of NASDAQ NEO opened at $19.89 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.35 and a current ratio of 3.60. NeoGenomics has a 52 week low of $7.07 and a 52 week high of $19.89. The stock has a market capitalization of $2.56 billion, a P/E ratio of -49.73 and a beta of 1.75. The stock’s fifty day moving average is $16.26 and its 200 day moving average is $12.02.

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 during the quarter, compared to the consensus estimate of $196.93 million. During the same quarter in the previous year, the firm earned $0.03 earnings per share. NeoGenomics’s revenue for the quarter was up 11.2% compared to the same quarter last year. Sell-side analysts forecast that NeoGenomics will post -0.09 earnings per share for the current fiscal year.

About NeoGenomics

NeoGenomics, Inc is a provider of cancer-focused diagnostic testing and contract research services. The company operates clinical laboratories that support physicians, hospitals and other healthcare organizations with information used to help diagnose, classify and monitor cancer.

Its testing services include anatomic pathology, immunohistochemistry, flow cytometry, cytogenetics, fluorescence in situ hybridization, molecular testing and next-generation sequencing. NeoGenomics also provides biopharmaceutical companies with clinical trial testing, central laboratory services, biomarker development and other research services intended to support the development of oncology therapies and companion diagnostics.

Founded in 1999, NeoGenomics serves healthcare providers and pharmaceutical and biotechnology customers primarily in the United States, with additional capabilities supporting international clinical research programs.