NeoGenomics, Inc. (NASDAQ:NEO) Given Consensus Rating of “Buy” by Brokerages

Shares of NeoGenomics, Inc. (NASDAQ:NEO) have been given a consensus recommendation of “Buy” by the nine ratings firms that are covering the firm, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a buy recommendation. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $20.25.

NEO has been the subject of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $19.00 target price on shares of NeoGenomics in a research note on Wednesday, November 6th. Benchmark restated a “buy” rating and issued a $18.00 price objective on shares of NeoGenomics in a research note on Tuesday, September 24th.

Insider Buying and Selling

In related news, General Counsel Alicia C. Olivo sold 5,175 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $15.36, for a total transaction of $79,488.00. Following the completion of the sale, the general counsel now owns 37,129 shares in the company, valued at $570,301.44. This trade represents a 12.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NeoGenomics

A number of hedge funds have recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in NeoGenomics by 107.2% during the 2nd quarter. Blue Trust Inc. now owns 2,331 shares of the medical research company’s stock worth $32,000 after acquiring an additional 1,206 shares during the last quarter. Quarry LP bought a new stake in NeoGenomics during the 3rd quarter worth about $40,000. Canada Pension Plan Investment Board bought a new stake in NeoGenomics during the 2nd quarter worth about $57,000. KBC Group NV grew its holdings in NeoGenomics by 33.1% during the 3rd quarter. KBC Group NV now owns 4,530 shares of the medical research company’s stock worth $67,000 after acquiring an additional 1,127 shares during the last quarter. Finally, FMR LLC grew its holdings in NeoGenomics by 7.6% during the 3rd quarter. FMR LLC now owns 13,255 shares of the medical research company’s stock worth $196,000 after acquiring an additional 931 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

NeoGenomics Price Performance

NASDAQ:NEO opened at $17.73 on Friday. The stock has a market cap of $2.28 billion, a P/E ratio of -29.07 and a beta of 1.19. NeoGenomics has a one year low of $12.77 and a one year high of $21.22. The company has a fifty day moving average price of $14.75 and a 200 day moving average price of $14.91. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.99 and a quick ratio of 1.91.

NeoGenomics (NASDAQ:NEO) last released its earnings results on Tuesday, November 5th. The medical research company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. The firm had revenue of $167.80 million during the quarter, compared to analysts’ expectations of $167.00 million. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.06) EPS. Analysts anticipate that NeoGenomics will post -0.17 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.