NeoGenomics, Inc. (NASDAQ:NEO) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of NeoGenomics, Inc. (NASDAQ:NEO) have received an average recommendation of “Moderate Buy” from the eleven analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $16.7143.

Several analysts have weighed in on the company. Craig Hallum reaffirmed a “buy” rating and issued a $19.00 price target on shares of NeoGenomics in a report on Wednesday, July 29th. Wall Street Zen upgraded shares of NeoGenomics from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. Benchmark upped their price objective on shares of NeoGenomics from $11.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Leerink Partners raised shares of NeoGenomics from a “market perform” rating to an “outperform” rating and raised their target price for the company from $12.00 to $25.00 in a research note on Wednesday, April 29th. Finally, Weiss Ratings upgraded shares of NeoGenomics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th.

NeoGenomics Price Performance

NEO opened at $16.98 on Monday. The firm has a market capitalization of $2.18 billion, a P/E ratio of -42.45 and a beta of 1.74. NeoGenomics has a one year low of $6.24 and a one year high of $17.08. The company has a fifty day moving average price of $14.50 and a 200-day moving average price of $11.09. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.60 and a quick ratio of 3.35.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings data on Tuesday, July 28th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The company had revenue of $201.66 million for the quarter, compared to the consensus estimate of $196.93 million. NeoGenomics had a negative return on equity of 1.99% and a negative net margin of 6.77%.The firm’s revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.03 earnings per share. Equities research analysts expect that NeoGenomics will post -0.09 earnings per share for the current fiscal year.

Insider Activity at NeoGenomics

In other news, Director Lynn A. Tetrault sold 5,307 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $11.29, for a total transaction of $59,916.03. Following the sale, the director owned 91,422 shares in the company, valued at approximately $1,032,154.38. This trade represents a 5.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On NeoGenomics

A number of large investors have recently added to or reduced their stakes in NEO. Royal Bank of Canada boosted its holdings in shares of NeoGenomics by 51.2% in the 1st quarter. Royal Bank of Canada now owns 56,026 shares of the medical research company’s stock worth $532,000 after purchasing an additional 18,966 shares in the last quarter. AQR Capital Management LLC bought a new stake in NeoGenomics in the 1st quarter worth approximately $271,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in NeoGenomics by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 75,798 shares of the medical research company’s stock worth $719,000 after buying an additional 3,254 shares during the last quarter. Intech Investment Management LLC boosted its stake in NeoGenomics by 19.7% in the first quarter. Intech Investment Management LLC now owns 151,806 shares of the medical research company’s stock worth $1,441,000 after buying an additional 24,965 shares in the last quarter. Finally, Creative Planning grew its position in NeoGenomics by 20.4% during the second quarter. Creative Planning now owns 16,735 shares of the medical research company’s stock valued at $122,000 after acquiring an additional 2,840 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

About NeoGenomics

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.