NeoGenomics (NASDAQ:NEO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of NeoGenomics (NASDAQ:NEO) from a hold rating to a buy rating in a report released on Sunday,Wall Street Zen reports.

A number of other equities analysts have also weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of NeoGenomics in a research report on Monday, October 12th. Needham & Company LLC upped their price objective on shares of NeoGenomics from $19.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, October 6th. Benchmark increased their price objective on shares of NeoGenomics from $11.00 to $16.00 and gave the company a “buy” rating in a report on Friday, July 24th. Craig Hallum reissued a “buy” rating and issued a $19.00 target price on shares of NeoGenomics in a research note on Wednesday, July 29th. Finally, Piper Sandler reissued an “overweight” rating on shares of NeoGenomics in a research note on Wednesday, October 7th. Eight analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.88.

NeoGenomics Stock Performance

Shares of NEO stock opened at $16.96 on Friday. The stock’s fifty day moving average is $17.61 and its two-hundred day moving average is $12.96. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.31 and a current ratio of 3.53. NeoGenomics has a fifty-two week low of $7.07 and a fifty-two week high of $20.15.

NeoGenomics (NASDAQ:NEO) last released its earnings results on Wednesday, October 28th. The medical research company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. NeoGenomics had a negative net margin of 4.10% and a negative return on equity of 0.99%. The business had revenue of $209.25 million during the quarter, compared to analyst estimates of $206.70 million. During the same quarter in the prior year, the firm earned $0.03 earnings per share. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, research analysts forecast that NeoGenomics will post -0.06 earnings per share for the current fiscal year.

Institutional Trading of NeoGenomics

A number of hedge funds and other institutional investors have recently modified their holdings of NEO. GAMMA Investing LLC raised its holdings in shares of NeoGenomics by 30.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,782 shares of the medical research company’s stock worth $51,000 after acquiring an additional 644 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of NeoGenomics by 117.0% in the third quarter. Farther Finance Advisors LLC now owns 1,701 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 917 shares during the period. Root Financial Partners LLC purchased a new stake in shares of NeoGenomics in the third quarter valued at about $29,000. Jacobi Capital Management LLC purchased a new stake in shares of NeoGenomics in the third quarter valued at about $37,000. Finally, Allworth Financial LP increased its position in NeoGenomics by 110.4% during the second quarter. Allworth Financial LP now owns 4,132 shares of the medical research company’s stock worth $60,000 after purchasing an additional 2,168 shares during the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

About NeoGenomics

NeoGenomics is a cancer-focused diagnostics company that provides laboratory testing and related services to physicians, hospitals, pharmaceutical companies and other healthcare organizations. Its clinical testing helps support the diagnosis and treatment of cancer. The company offers a range of oncology tests, including molecular, cytogenetic, pathology and flow cytometry services. Its capabilities also include next-generation sequencing and liquid biopsy testing, which can help clinicians assess tumor characteristics and inform treatment decisions.