NeoGenomics, Inc. (NASDAQ:NEO) Receives $12.00 Consensus Target Price from Brokerages

NeoGenomics, Inc. (NASDAQ:NEO) has been given an average recommendation of “Hold” by the thirteen brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $12.00.

Several research firms have recently commented on NEO. Needham & Company LLC reissued a “buy” rating and issued a $14.00 price objective on shares of NeoGenomics in a research note on Monday, January 12th. Leerink Partners set a $14.00 price target on shares of NeoGenomics in a research report on Tuesday, October 28th. TD Cowen restated a “buy” rating on shares of NeoGenomics in a research note on Wednesday, January 7th. Zacks Research upgraded NeoGenomics from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NeoGenomics in a report on Monday, December 29th.

NeoGenomics Trading Down 2.7%

Shares of NeoGenomics stock opened at $12.06 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.91 and a quick ratio of 3.62. The stock’s 50 day simple moving average is $12.27 and its 200-day simple moving average is $9.62. The stock has a market cap of $1.56 billion, a P/E ratio of -13.70 and a beta of 1.58. NeoGenomics has a 1-year low of $4.72 and a 1-year high of $14.88.

Insiders Place Their Bets

In related news, EVP Alicia C. Olivo sold 20,916 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $12.00, for a total value of $250,992.00. Following the completion of the sale, the executive vice president owned 31,083 shares in the company, valued at $372,996. This represents a 40.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Warren Stone sold 22,128 shares of NeoGenomics stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $12.50, for a total transaction of $276,600.00. Following the completion of the transaction, the chief operating officer owned 121,631 shares in the company, valued at approximately $1,520,387.50. This represents a 15.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NeoGenomics

A number of large investors have recently bought and sold shares of NEO. Aster Capital Management DIFC Ltd grew its stake in shares of NeoGenomics by 42.5% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 3,341 shares of the medical research company’s stock worth $26,000 after purchasing an additional 997 shares during the period. First Horizon Corp boosted its holdings in NeoGenomics by 52.6% during the fourth quarter. First Horizon Corp now owns 2,509 shares of the medical research company’s stock worth $30,000 after buying an additional 865 shares in the last quarter. Headlands Technologies LLC acquired a new position in NeoGenomics during the second quarter worth about $32,000. GAMMA Investing LLC grew its position in NeoGenomics by 68.2% during the fourth quarter. GAMMA Investing LLC now owns 3,602 shares of the medical research company’s stock worth $42,000 after buying an additional 1,460 shares during the period. Finally, Capstone Financial Advisors Inc. purchased a new position in NeoGenomics in the second quarter valued at about $73,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

NeoGenomics Company Profile

NeoGenomics, traded on the Nasdaq under the symbol NEO, is a leading provider of cancer-focused genetic and molecular testing services. Headquartered in Fort Myers, Florida, the company operates an integrated network of CAP-accredited and CLIA-certified laboratories across the United States, Europe and Asia. NeoGenomics delivers diagnostic insights that support oncologists, pathologists and healthcare institutions in the detection, prognosis and treatment of hematologic and solid tumor cancers.

The company’s core service offerings include flow cytometry, immunohistochemistry, fluorescence in situ hybridization (FISH), karyotyping and advanced molecular assays such as next-generation sequencing (NGS) panels and polymerase chain reaction (PCR) tests.