NeoGenomics, Inc. (NASDAQ:NEO) Receives $19.89 Average Target Price from Brokerages

Shares of NeoGenomics, Inc. (NASDAQ:NEO) have been assigned a consensus rating of “Moderate Buy” from the ten brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $19.89.

A number of equities analysts have issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price objective on shares of NeoGenomics in a report on Wednesday, September 25th. Stephens restated an “overweight” rating and set a $19.00 price target on shares of NeoGenomics in a report on Tuesday, July 30th. Finally, Benchmark restated a “buy” rating and set a $18.00 price target on shares of NeoGenomics in a report on Tuesday, September 24th.

NeoGenomics Price Performance

Shares of NeoGenomics stock opened at $13.53 on Friday. The business has a 50 day moving average of $15.64 and a 200 day moving average of $14.84. The company has a quick ratio of 1.93, a current ratio of 2.01 and a debt-to-equity ratio of 0.37. The company has a market cap of $1.73 billion, a PE ratio of -20.50 and a beta of 1.19. NeoGenomics has a 52 week low of $11.97 and a 52 week high of $21.22.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data 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 the consensus estimate of $161.82 million. NeoGenomics had a negative return on equity of 2.72% and a negative net margin of 12.50%. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.09) earnings per share. As a group, equities research analysts forecast that NeoGenomics will post -0.21 earnings per share for the current year.

Institutional Investors Weigh In On NeoGenomics

Several institutional investors have recently modified their holdings of NEO. Blue Trust Inc. boosted its position 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 buying an additional 1,206 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in NeoGenomics in the second quarter worth about $57,000. PNC Financial Services Group Inc. boosted its position in NeoGenomics by 27.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,434 shares of the medical research company’s stock worth $136,000 after purchasing an additional 1,791 shares during the last quarter. Banque Cantonale Vaudoise boosted its position in NeoGenomics by 10.2% in the second quarter. Banque Cantonale Vaudoise now owns 17,575 shares of the medical research company’s stock worth $244,000 after purchasing an additional 1,633 shares during the last quarter. Finally, Gabelli Funds LLC purchased a new position in NeoGenomics in the first quarter worth about $283,000. 98.50% of the stock is 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.