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

Shares of NeoGenomics, Inc. (NASDAQ:NEO) have been assigned an average rating of “Moderate Buy” from the ten research firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $19.60.

A number of brokerages have issued reports on NEO. Needham & Company LLC lowered their price objective on NeoGenomics from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Bank of America cut their target price on shares of NeoGenomics from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Piper Sandler decreased their price objective on NeoGenomics from $21.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Benchmark cut NeoGenomics from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Jefferies Financial Group initiated coverage on shares of NeoGenomics in a report on Tuesday, December 10th. They set a “buy” rating and a $22.00 price objective for the company.

NeoGenomics Stock Performance

NASDAQ:NEO opened at $9.82 on Monday. The company has a quick ratio of 1.91, a current ratio of 1.98 and a debt-to-equity ratio of 0.38. The firm’s fifty day simple moving average is $13.11 and its 200 day simple moving average is $14.81. The stock has a market cap of $1.26 billion, a P/E ratio of -15.84 and a beta of 1.28. NeoGenomics has a twelve month low of $8.98 and a twelve month high of $19.12.

NeoGenomics (NASDAQ:NEO) last announced its earnings results on Tuesday, February 18th. The medical research company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. The firm had revenue of $172.00 million during the quarter, compared to the consensus estimate of $173.40 million. As a group, research analysts predict that NeoGenomics will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of NeoGenomics by 7.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 646,111 shares of the medical research company’s stock valued at $10,648,000 after acquiring an additional 42,895 shares during the period. Sovereign s Capital Management LLC acquired a new position in NeoGenomics during the fourth quarter valued at $490,000. Squarepoint Ops LLC purchased a new stake in NeoGenomics in the fourth quarter valued at $276,000. Sherbrooke Park Advisers LLC purchased a new stake in NeoGenomics in the fourth quarter valued at $183,000. Finally, ProShare Advisors LLC grew its position in NeoGenomics by 44.5% during the 4th quarter. ProShare Advisors LLC now owns 38,445 shares of the medical research company’s stock worth $634,000 after purchasing an additional 11,831 shares during the period. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

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.