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

NeoGenomics, Inc. (NASDAQ:NEO) has been given a consensus recommendation of “Moderate Buy” by the ten research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $19.78.

A number of analysts have commented on NEO shares. Craig Hallum started coverage on shares of NeoGenomics in a research note on Wednesday, May 1st. They set a “buy” rating and a $26.00 price target for the company. 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 report on Tuesday, April 30th. BTIG Research cut their price target on shares of NeoGenomics from $23.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Benchmark restated a “buy” rating and issued a $18.00 price objective on shares of NeoGenomics in a research note on Wednesday, May 1st. Finally, TD Cowen lowered their price objective on NeoGenomics from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NEO. First Light Asset Management LLC boosted its stake in NeoGenomics by 29.6% in the fourth quarter. First Light Asset Management LLC now owns 3,926,756 shares of the medical research company’s stock worth $63,535,000 after buying an additional 897,843 shares in the last quarter. Redwood Investments LLC bought a new position in NeoGenomics in the fourth quarter worth $2,399,000. Legato Capital Management LLC bought a new position in NeoGenomics in the fourth quarter worth $401,000. Norges Bank bought a new position in NeoGenomics in the fourth quarter worth $14,512,000. Finally, Schroder Investment Management Group increased its holdings in shares of NeoGenomics by 26.7% during the third quarter. Schroder Investment Management Group now owns 2,513,307 shares of the medical research company’s stock valued at $30,914,000 after acquiring an additional 529,178 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors.

NeoGenomics Stock Performance

NASDAQ:NEO opened at $13.73 on Wednesday. The company has a market capitalization of $1.75 billion, a PE ratio of -20.80 and a beta of 1.19. The company has a 50 day simple moving average of $14.08 and a two-hundred day simple moving average of $15.11. The company has a debt-to-equity ratio of 0.58, a quick ratio of 7.22 and a current ratio of 7.48. NeoGenomics has a fifty-two week low of $11.03 and a fifty-two week high of $21.22.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings data on Tuesday, April 30th. The medical research company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The company had revenue of $156.24 million during the quarter, compared to the consensus estimate of $149.82 million. NeoGenomics had a negative net margin of 13.79% and a negative return on equity of 3.54%. Research analysts anticipate that NeoGenomics will post -0.21 earnings per share for the current year.

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.