NeoGenomics, Inc. (NASDAQ:NEO) Receives $19.60 Average Target Price from Analysts

NeoGenomics, Inc. (NASDAQ:NEO) has been assigned an average recommendation of “Moderate Buy” from the ten analysts that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $19.60.

NEO has been the subject of a number of recent research reports. The Goldman Sachs Group cut their target price on NeoGenomics from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Needham & Company LLC dropped their price objective on shares of NeoGenomics from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Jefferies Financial Group started coverage on shares of NeoGenomics in a report on Tuesday, December 10th. They set a “buy” rating and a $22.00 price objective for the company. Benchmark cut shares of NeoGenomics from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Piper Sandler cut their price target on shares of NeoGenomics from $21.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th.

NeoGenomics Trading Down 6.0 %

Shares of NEO stock opened at $10.23 on Monday. The company has a current ratio of 1.98, a quick ratio of 1.91 and a debt-to-equity ratio of 0.38. NeoGenomics has a 1 year low of $8.98 and a 1 year high of $19.12. The firm’s fifty day simple moving average is $13.39 and its 200 day simple moving average is $14.89. The firm has a market capitalization of $1.31 billion, a P/E ratio of -16.50 and a beta of 1.28.

NeoGenomics (NASDAQ:NEO) last released its earnings results on Tuesday, February 18th. The medical research company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). NeoGenomics had a negative net margin of 11.92% and a negative return on equity of 2.10%. The company had revenue of $172.00 million during the quarter, compared to the consensus estimate of $173.40 million. As a group, sell-side analysts predict that NeoGenomics will post -0.2 EPS for the current year.

Hedge Funds Weigh In On NeoGenomics

A number of institutional investors and hedge funds have recently bought and sold shares of NEO. Vanguard Group Inc. raised its holdings in shares of NeoGenomics by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 14,239,887 shares of the medical research company’s stock valued at $234,673,000 after buying an additional 195,793 shares during the last quarter. State Street Corp increased its position in NeoGenomics by 1.6% in the 3rd quarter. State Street Corp now owns 4,958,582 shares of the medical research company’s stock valued at $73,139,000 after acquiring an additional 80,449 shares in the last quarter. Greenhouse Funds LLLP raised its stake in shares of NeoGenomics by 5.3% in the fourth quarter. Greenhouse Funds LLLP now owns 4,701,897 shares of the medical research company’s stock worth $77,487,000 after acquiring an additional 237,491 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of NeoGenomics by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,436,858 shares of the medical research company’s stock worth $56,645,000 after purchasing an additional 78,211 shares in the last quarter. Finally, First Light Asset Management LLC grew its stake in shares of NeoGenomics by 3.0% during the fourth quarter. First Light Asset Management LLC now owns 3,167,585 shares of the medical research company’s stock valued at $52,202,000 after purchasing an additional 91,030 shares during the last quarter. Institutional investors and hedge funds 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.