NeoGenomics (NASDAQ:NEO) Given Buy Rating at Benchmark

Benchmark reiterated their buy rating on shares of NeoGenomics (NASDAQ:NEO) in a report issued on Tuesday, Benzinga reports. They currently have a $18.00 price objective on the medical research company’s stock.

Other analysts have also issued reports about the company. Stephens reaffirmed an overweight rating and issued a $19.00 price objective on shares of NeoGenomics in a research note on Tuesday, July 30th. Needham & Company LLC restated a buy rating and issued a $19.00 price target on shares of NeoGenomics in a research note on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, NeoGenomics presently has a consensus rating of Moderate Buy and an average price target of $19.89.

NeoGenomics Price Performance

Shares of NASDAQ:NEO opened at $15.80 on Tuesday. The firm has a 50 day moving average of $16.07 and a 200-day moving average of $14.94. NeoGenomics has a 12 month low of $11.03 and a 12 month high of $21.22. The company has a current ratio of 2.01, a quick ratio of 1.93 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $2.02 billion, a PE ratio of -23.94 and a beta of 1.19.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings data on Monday, July 29th. The medical research company reported $0.03 EPS for the quarter. The business had revenue of $164.50 million during the quarter, compared to the consensus estimate of $161.82 million. NeoGenomics had a negative net margin of 12.50% and a negative return on equity of 2.72%. The company’s revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.09) earnings per share. On average, equities research analysts predict that NeoGenomics will post -0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On NeoGenomics

Several large investors have recently modified their holdings of the business. First Light Asset Management LLC grew its stake in shares of 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 purchasing an additional 897,843 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of NeoGenomics in the first quarter valued at about $680,000. Edgestream Partners L.P. bought a new position in shares of NeoGenomics during the first quarter worth about $1,894,000. Jennison Associates LLC lifted its stake in shares of NeoGenomics by 77.8% in the first quarter. Jennison Associates LLC now owns 1,051,627 shares of the medical research company’s stock worth $16,532,000 after acquiring an additional 460,071 shares during the period. Finally, Bellevue Group AG bought a new stake in NeoGenomics in the first quarter valued at approximately $14,872,000. 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.