NeoGenomics, Inc. (NASDAQ:NEO) Stock Has Average Target Price of $17.67

NeoGenomics, Inc. (NASDAQ:NEO) has earned a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $18.17.

Several equities research analysts have commented on the company. Zacks Research lowered NeoGenomics from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Benchmark boosted their target price on NeoGenomics from $11.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Weiss Ratings raised shares of NeoGenomics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. Wall Street Zen raised shares of NeoGenomics from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. Finally, Craig Hallum restated a “buy” rating and issued a $19.00 price target on shares of NeoGenomics in a report on Wednesday, July 29th.

Hedge Funds Weigh In On NeoGenomics

Hedge funds have recently made changes to their positions in the business. Squarepoint Ops LLC boosted its position in NeoGenomics by 118.3% during the 2nd quarter. Squarepoint Ops LLC now owns 222,036 shares of the medical research company’s stock worth $3,240,000 after purchasing an additional 120,342 shares during the period. WINTON GROUP Ltd purchased a new position in NeoGenomics in the second quarter valued at about $925,000. Bank of New York Mellon Corp purchased a new position in NeoGenomics in the second quarter valued at about $10,744,000. First Light Asset Management LLC lifted its stake in shares of NeoGenomics by 26.2% during the second quarter. First Light Asset Management LLC now owns 12,279,523 shares of the medical research company’s stock worth $179,158,000 after purchasing an additional 2,549,545 shares in the last quarter. Finally, American Capital Management Inc. acquired a new position in shares of NeoGenomics during the second quarter worth about $32,648,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

NeoGenomics Trading Up 0.3%

NEO stock opened at $16.02 on Tuesday. The company has a market cap of $2.06 billion, a price-to-earnings ratio of -40.05 and a beta of 1.79. The company has a quick ratio of 3.35, a current ratio of 3.60 and a debt-to-equity ratio of 0.48. The business has a fifty day simple moving average of $17.47 and a 200-day simple moving average of $13.06. NeoGenomics has a 52 week low of $7.07 and a 52 week high of $20.15.

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

NeoGenomics Company Profile

NeoGenomics, Inc (NASDAQ:NEO) is a specialized oncology diagnostics company that provides testing services to hospitals, physicians, pathologists, pharmaceutical companies and other healthcare organizations. Its services support the diagnosis, classification and monitoring of cancer, helping guide treatment decisions and drug development.

The company offers a broad range of pathology and laboratory services, including molecular testing, next-generation sequencing, fluorescence in situ hybridization, cytogenetics, flow cytometry, immunohistochemistry and digital pathology.