NeoGenomics, Inc. (NASDAQ:NEO) Receives $20.30 Average PT from Brokerages

NeoGenomics, Inc. (NASDAQ:NEO) has been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $20.30.

A number of brokerages have recently commented on NEO. Needham & Company LLC reissued a “buy” rating and issued a $19.00 price target on shares of NeoGenomics in a report on Wednesday, November 6th. Jefferies Financial Group started coverage on NeoGenomics in a research note on Tuesday, December 10th. They issued a “buy” rating and a $22.00 target price on the stock. Benchmark reaffirmed a “buy” rating and set a $18.00 price target on shares of NeoGenomics in a research note on Tuesday, September 24th. Finally, Bank of America raised their price objective on NeoGenomics from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, December 13th.

NeoGenomics Stock Down 2.6 %

NEO opened at $16.83 on Wednesday. The firm has a market capitalization of $2.16 billion, a P/E ratio of -27.59 and a beta of 1.24. NeoGenomics has a one year low of $12.77 and a one year high of $19.00. The company has a fifty day moving average price of $16.07 and a 200-day moving average price of $15.37. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.99 and a quick ratio of 1.91.

NeoGenomics (NASDAQ:NEO) last posted its earnings results on Tuesday, November 5th. The medical research company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.01 by $0.04. NeoGenomics had a negative return on equity of 2.11% and a negative net margin of 12.07%. The business had revenue of $167.80 million during the quarter, compared to analysts’ expectations of $167.00 million. During the same period in the previous year, the business earned ($0.06) earnings per share. The firm’s revenue was up 10.5% on a year-over-year basis. Equities research analysts expect that NeoGenomics will post -0.16 earnings per share for the current fiscal year.

Insider Transactions at NeoGenomics

In other news, General Counsel Alicia C. Olivo sold 5,175 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $15.36, for a total transaction of $79,488.00. Following the completion of the sale, the general counsel now directly owns 37,129 shares in the company, valued at approximately $570,301.44. This represents a 12.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC boosted its position in shares of NeoGenomics by 4.7% during the third quarter. Jennison Associates LLC now owns 1,276,468 shares of the medical research company’s stock valued at $18,828,000 after purchasing an additional 57,041 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of NeoGenomics by 1.2% in the third quarter. Geode Capital Management LLC now owns 3,051,806 shares of the medical research company’s stock worth $45,022,000 after acquiring an additional 36,136 shares during the last quarter. First Light Asset Management LLC increased its stake in NeoGenomics by 14.5% during the 2nd quarter. First Light Asset Management LLC now owns 3,782,561 shares of the medical research company’s stock valued at $52,464,000 after purchasing an additional 480,396 shares in the last quarter. Blue Trust Inc. raised its holdings in NeoGenomics by 42.3% in the third quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock worth $46,000 after buying an additional 987 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of NeoGenomics by 152.6% during the second quarter. Sei Investments Co. now owns 263,761 shares of the medical research company’s stock valued at $3,658,000 after buying an additional 159,350 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

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.