NeoGenomics (NASDAQ:NEO) Earns Buy Rating from Analysts at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of NeoGenomics (NASDAQ:NEO) in a research report report published on Thursday, Analyst Ratings Network reports. The firm issued a buy rating and a $55.00 price target on the medical research company’s stock.

Several other equities analysts have also issued reports on NEO. Needham & Company LLC reiterated a buy rating and issued a $65.00 price target on shares of NeoGenomics in a research note on Friday, April 16th. Zacks Investment Research lowered NeoGenomics from a hold rating to a sell rating in a research note on Wednesday, April 28th. Raymond James reissued a market perform rating on shares of NeoGenomics in a report on Wednesday, March 3rd. Craig Hallum raised their price objective on NeoGenomics from $50.00 to $65.00 and gave the company a buy rating in a report on Thursday, February 25th. Finally, Morgan Stanley raised their price objective on NeoGenomics from $46.00 to $64.00 and gave the company an overweight rating in a report on Thursday, February 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $50.46.

Shares of NASDAQ NEO opened at $40.90 on Thursday. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of -511.25 and a beta of 0.69. The company has a debt-to-equity ratio of 0.63, a quick ratio of 13.60 and a current ratio of 13.91. NeoGenomics has a 1-year low of $25.67 and a 1-year high of $61.57. The business’s 50 day moving average price is $44.50.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Wednesday, May 5th. The medical research company reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.05). NeoGenomics had a positive return on equity of 0.83% and a negative net margin of 2.42%. The company had revenue of $115.30 million for the quarter, compared to the consensus estimate of $112.17 million. During the same quarter last year, the business earned ($0.07) EPS. NeoGenomics’s revenue was up 8.8% on a year-over-year basis. On average, research analysts predict that NeoGenomics will post -0.33 earnings per share for the current fiscal year.

In related news, insider Robert J. Shovlin sold 130,604 shares of the business’s stock in a transaction dated Tuesday, May 25th. The stock was sold at an average price of $39.31, for a total value of $5,134,043.24. Following the completion of the sale, the insider now directly owns 249,914 shares of the company’s stock, valued at approximately $9,824,119.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider George Cardoza sold 169,230 shares of the business’s stock in a transaction dated Wednesday, June 2nd. The shares were sold at an average price of $40.39, for a total value of $6,835,199.70. Following the completion of the sale, the insider now directly owns 207,879 shares of the company’s stock, valued at $8,396,232.81. The disclosure for this sale can be found here. 4.70% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its holdings in NeoGenomics by 5.3% during the 4th quarter. BlackRock Inc. now owns 17,246,570 shares of the medical research company’s stock worth $928,557,000 after purchasing an additional 861,490 shares in the last quarter. Artisan Partners Limited Partnership increased its holdings in NeoGenomics by 2.6% during the 1st quarter. Artisan Partners Limited Partnership now owns 4,852,328 shares of the medical research company’s stock worth $234,028,000 after purchasing an additional 124,841 shares in the last quarter. Janus Henderson Group PLC increased its holdings in NeoGenomics by 51.0% during the 1st quarter. Janus Henderson Group PLC now owns 4,103,784 shares of the medical research company’s stock worth $197,926,000 after purchasing an additional 1,386,761 shares in the last quarter. Brown Advisory Inc. increased its holdings in NeoGenomics by 2.2% during the 1st quarter. Brown Advisory Inc. now owns 3,142,710 shares of the medical research company’s stock worth $151,573,000 after purchasing an additional 67,143 shares in the last quarter. Finally, Oak Ridge Investments LLC increased its holdings in NeoGenomics by 751.8% during the 1st quarter. Oak Ridge Investments LLC now owns 2,723,474 shares of the medical research company’s stock worth $131,353,000 after purchasing an additional 2,403,756 shares in the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

About NeoGenomics

NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States, Europe, and Asia. It operates in two segments, Clinical Services and Pharma Services. The company offers testing services to hospitals, reference labs, pathologists, oncologists, clinicians, pharmaceutical firms, and researchers It provides cytogenetics testing services to study normal and abnormal chromosomes and their relationship to diseases; fluorescence in-situ hybridization testing services that focus on detecting and locating the presence or absence of specific DNA sequences and genes on chromosomes; flow cytometry testing services to measure the characteristics of cell populations; and immunohistochemistry and digital imaging testing services to localize cellular proteins in tissue section, as well as to allow clients to visualize scanned slides, and perform quantitative analysis for various stains.

Featured Story: What is a CD ladder?

Analyst Recommendations for NeoGenomics (NASDAQ:NEO)

Receive News & Ratings for NeoGenomics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NeoGenomics and related companies with MarketBeat.com's FREE daily email newsletter.