NeoGenomics (NASDAQ:NEO) Price Target Raised to $19.00

NeoGenomics (NASDAQ:NEO) had its target price lifted by stock analysts at Bank of America from $18.00 to $19.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the medical research company’s stock. Bank of America‘s target price suggests a potential upside of 7.16% from the company’s previous close.

NEO has been the topic of several other reports. Needham & Company LLC reiterated a “buy” rating and set a $19.00 price target on shares of NeoGenomics in a research note on Wednesday, November 6th. Jefferies Financial Group began coverage on NeoGenomics in a research note on Tuesday, December 10th. They issued a “buy” rating and a $22.00 price target on the stock. Finally, Benchmark reaffirmed a “buy” rating and set a $18.00 price target on shares of NeoGenomics in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $20.30.

NeoGenomics Price Performance

Shares of NEO opened at $17.73 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.99 and a quick ratio of 1.91. The firm has a 50-day simple moving average of $15.39 and a two-hundred day simple moving average of $15.13. NeoGenomics has a 1-year low of $12.77 and a 1-year high of $21.22. The stock has a market cap of $2.28 billion, a PE ratio of -29.07 and a beta of 1.24.

NeoGenomics (NASDAQ:NEO) last released its earnings results on Tuesday, November 5th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. The company had revenue of $167.80 million for the quarter, compared to analyst estimates of $167.00 million. During the same period in the prior year, the business earned ($0.06) EPS. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. As a group, analysts forecast that NeoGenomics will post -0.16 EPS for the current year.

Insider Buying and Selling at NeoGenomics

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 5,175 shares of NeoGenomics stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $15.36, for a total transaction of $79,488.00. Following the transaction, the general counsel now directly owns 37,129 shares of the company’s stock, valued at $570,301.44. The trade was a 12.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On NeoGenomics

A number of hedge funds have recently made changes to their positions in the business. Blue Trust Inc. grew its stake in shares of NeoGenomics by 107.2% during the second 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 in the last quarter. Oak Family Advisors LLC increased its position in NeoGenomics by 1.4% in the 2nd quarter. Oak Family Advisors LLC now owns 109,095 shares of the medical research company’s stock valued at $1,513,000 after acquiring an additional 1,454 shares during the period. Louisiana State Employees Retirement System lifted its holdings in NeoGenomics by 1.9% in the second quarter. Louisiana State Employees Retirement System now owns 64,300 shares of the medical research company’s stock worth $892,000 after purchasing an additional 1,200 shares during the period. Bank of New York Mellon Corp raised its holdings in NeoGenomics by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 953,875 shares of the medical research company’s stock worth $13,230,000 after purchasing an additional 16,023 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in NeoGenomics by 36.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 29,040 shares of the medical research company’s stock valued at $403,000 after buying an additional 7,793 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

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.