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

Shares of NeoGenomics, Inc. (NASDAQ:NEO) have been given an average recommendation of “Moderate Buy” by the ten brokerages that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 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 analyst reports. Piper Sandler reduced their price objective on shares of NeoGenomics from $21.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Bank of America cut their price objective on NeoGenomics from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. The Goldman Sachs Group decreased their target price on NeoGenomics from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Jefferies Financial Group initiated coverage on shares of NeoGenomics in a report on Tuesday, December 10th. They issued a “buy” rating and a $22.00 price target on the stock. Finally, Benchmark cut shares of NeoGenomics from a “buy” rating to a “hold” rating in a research note on Monday, January 13th.

NeoGenomics Price Performance

NEO stock opened at $8.78 on Friday. 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 business has a 50-day simple moving average of $11.39 and a two-hundred day simple moving average of $14.09. The company has a market capitalization of $1.13 billion, a P/E ratio of -14.16 and a beta of 1.41. NeoGenomics has a 52-week low of $8.27 and a 52-week high of $19.12.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its stake in NeoGenomics by 5.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 15,610 shares of the medical research company’s stock valued at $257,000 after acquiring an additional 770 shares in the last quarter. Summit Investment Advisors Inc. raised its position in shares of NeoGenomics by 6.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 13,339 shares of the medical research company’s stock worth $220,000 after buying an additional 863 shares in the last quarter. FMR LLC boosted its stake in NeoGenomics by 7.6% during the third quarter. FMR LLC now owns 13,255 shares of the medical research company’s stock valued at $196,000 after buying an additional 931 shares during the period. Blue Trust Inc. increased its stake in NeoGenomics by 33.2% in the 4th quarter. Blue Trust Inc. now owns 4,421 shares of the medical research company’s stock worth $73,000 after acquiring an additional 1,103 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of NeoGenomics by 174.9% in the 4th quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 1,142 shares in the last quarter. Hedge funds and other 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.