NeoGenomics, Inc. (NASDAQ:NEO) Receives $19.60 Consensus Price Target from Brokerages

Shares of NeoGenomics, Inc. (NASDAQ:NEO) have been assigned an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $19.60.

Several analysts have recently commented on the company. Piper Sandler lowered their price objective on NeoGenomics from $21.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Jefferies Financial Group assumed coverage on NeoGenomics in a research note on Tuesday, December 10th. They issued a “buy” rating and a $22.00 price objective for the company. The Goldman Sachs Group lowered their price objective on NeoGenomics from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Benchmark downgraded NeoGenomics from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Bank of America reduced their target price on NeoGenomics from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th.

Hedge Funds Weigh In On NeoGenomics

Institutional investors and hedge funds have recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in NeoGenomics during the fourth quarter valued at $26,000. Versant Capital Management Inc grew its holdings in NeoGenomics by 174.9% during the fourth quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 1,142 shares during the period. Quarry LP bought a new position in NeoGenomics during the third quarter valued at $40,000. Sterling Capital Management LLC grew its holdings in NeoGenomics by 788.7% during the fourth quarter. Sterling Capital Management LLC now owns 3,706 shares of the medical research company’s stock valued at $61,000 after purchasing an additional 3,289 shares during the period. Finally, KBC Group NV grew its holdings in NeoGenomics by 33.1% during the third quarter. KBC Group NV now owns 4,530 shares of the medical research company’s stock valued at $67,000 after purchasing an additional 1,127 shares during the period. 98.50% of the stock is owned by institutional investors.

NeoGenomics Stock Up 3.2 %

NEO stock opened at $9.82 on Monday. The stock’s 50 day simple moving average is $13.11 and its 200 day simple moving average is $14.78. NeoGenomics has a fifty-two week low of $8.98 and a fifty-two week high of $19.12. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.91 and a current ratio of 1.98. The company has a market cap of $1.26 billion, a P/E ratio of -15.84 and a beta of 1.28.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Tuesday, February 18th. The medical research company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $173.40 million. On average, research analysts expect that NeoGenomics will post -0.2 earnings per share for the current fiscal year.

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.