Needham & Company LLC Reaffirms Buy Rating for NeoGenomics (NASDAQ:NEO)

Needham & Company LLC reaffirmed their buy rating on shares of NeoGenomics (NASDAQ:NEO) in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has a $19.00 price target on the medical research company’s stock.

NEO has been the topic of a number of other reports. Benchmark reissued a buy rating and set a $18.00 target price on shares of NeoGenomics in a research report on Tuesday. Stephens reissued an overweight rating and issued a $19.00 price objective on shares of NeoGenomics in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, NeoGenomics has a consensus rating of Moderate Buy and a consensus target price of $19.89.

NeoGenomics Stock Down 5.3 %

Shares of NeoGenomics stock opened at $14.96 on Wednesday. The company has a fifty day moving average price of $16.06 and a 200 day moving average price of $14.94. The company has a current ratio of 2.01, a quick ratio of 1.93 and a debt-to-equity ratio of 0.37. NeoGenomics has a twelve month low of $11.03 and a twelve month high of $21.22. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of -22.67 and a beta of 1.19.

NeoGenomics (NASDAQ:NEO) last posted its earnings results on Monday, July 29th. The medical research company reported $0.03 earnings per share (EPS) for the quarter. The business had revenue of $164.50 million during the quarter, compared to analyst estimates of $161.82 million. NeoGenomics had a negative return on equity of 2.72% and a negative net margin of 12.50%. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.09) earnings per share. Equities research analysts forecast that NeoGenomics will post -0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NeoGenomics

Hedge funds and other institutional investors have recently modified their holdings of the stock. First Light Asset Management LLC lifted its position in shares of NeoGenomics by 29.6% during 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 position in shares of NeoGenomics in the 1st quarter worth approximately $680,000. Edgestream Partners L.P. acquired a new position in shares of NeoGenomics in the 1st quarter worth approximately $1,894,000. Jennison Associates LLC increased its holdings in shares of NeoGenomics by 77.8% in the 1st quarter. Jennison Associates LLC now owns 1,051,627 shares of the medical research company’s stock valued at $16,532,000 after acquiring an additional 460,071 shares during the last quarter. Finally, Bellevue Group AG acquired a new stake in shares of NeoGenomics during the 1st quarter valued at approximately $14,872,000. Institutional investors own 98.50% of the company’s stock.

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.