NeoGenomics, Inc. (NASDAQ:NEO) Receives $19.89 Average Price Target from Brokerages

Shares of NeoGenomics, Inc. (NASDAQ:NEO) have earned an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $19.89.

NEO has been the topic of several recent analyst reports. Stephens reaffirmed an “overweight” rating and set a $19.00 target price on shares of NeoGenomics in a research report on Tuesday, July 30th. Needham & Company LLC restated a “buy” rating and set a $19.00 price target on shares of NeoGenomics in a research note on Wednesday. Finally, Benchmark reaffirmed a “buy” rating and issued a $18.00 price objective on shares of NeoGenomics in a research report on Tuesday, September 24th.

Hedge Funds Weigh In On NeoGenomics

A number of institutional investors have recently bought and sold shares of NEO. Blue Trust Inc. boosted its holdings in shares of NeoGenomics by 107.2% in the 2nd quarter. Blue Trust Inc. now owns 2,331 shares of the medical research company’s stock valued at $32,000 after acquiring an additional 1,206 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in NeoGenomics in the second quarter valued at $57,000. KBC Group NV raised its stake in shares of NeoGenomics by 33.1% during the 3rd quarter. KBC Group NV now owns 4,530 shares of the medical research company’s stock valued at $67,000 after buying an additional 1,127 shares during the last quarter. Banque Cantonale Vaudoise raised its stake in shares of NeoGenomics by 10.2% during the 2nd quarter. Banque Cantonale Vaudoise now owns 17,575 shares of the medical research company’s stock valued at $244,000 after buying an additional 1,633 shares during the last quarter. Finally, Gabelli Funds LLC acquired a new position in shares of NeoGenomics in the 1st quarter valued at about $283,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

NeoGenomics Stock Up 2.3 %

NASDAQ:NEO opened at $15.82 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.93 and a current ratio of 2.01. The stock has a market capitalization of $2.03 billion, a P/E ratio of -25.52 and a beta of 1.19. The company’s 50-day simple moving average is $14.69 and its 200-day simple moving average is $14.73. NeoGenomics has a fifty-two week low of $12.77 and a fifty-two week high of $21.22.

NeoGenomics (NASDAQ:NEO) last announced its earnings results on Tuesday, November 5th. The medical research company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.04. The company had revenue of $167.80 million during the quarter, compared to the consensus estimate of $167.00 million. NeoGenomics had a negative net margin of 12.50% and a negative return on equity of 2.72%. NeoGenomics’s revenue was up 10.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.06) earnings per share. On average, equities analysts anticipate that NeoGenomics will post -0.21 earnings per share for the current fiscal year.

NeoGenomics Company Profile

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.