NeoGenomics, Inc. (NASDAQ:NEO) Receives $11.57 Average Price Target from Brokerages

Shares of NeoGenomics, Inc. (NASDAQ:NEO) have been assigned a consensus rating of “Hold” from the fourteen research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $11.8571.

NEO has been the topic of several research analyst reports. Needham & Company LLC upped their target price on NeoGenomics from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Benchmark restated a “hold” rating on shares of NeoGenomics in a research report on Wednesday, February 18th. Piper Sandler lifted their target price on shares of NeoGenomics from $12.00 to $13.00 and gave the company an “overweight” rating in a report on Tuesday. Weiss Ratings reissued a “sell (d-)” rating on shares of NeoGenomics in a research report on Monday, December 29th. Finally, UBS Group reaffirmed a “hold” rating on shares of NeoGenomics in a report on Wednesday, February 18th.

NeoGenomics Stock Performance

Shares of NEO stock opened at $9.83 on Monday. The stock has a market capitalization of $1.28 billion, a PE ratio of -11.70 and a beta of 1.58. The company has a quick ratio of 3.94, a current ratio of 4.26 and a debt-to-equity ratio of 0.41. NeoGenomics has a 52 week low of $4.72 and a 52 week high of $13.74. The firm has a 50 day moving average of $11.87 and a two-hundred day moving average of $10.29.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings data on Tuesday, February 17th. The medical research company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The business had revenue of $190.17 million for the quarter, compared to analyst estimates of $188.25 million. NeoGenomics had a negative net margin of 14.85% and a negative return on equity of 3.10%. The company’s revenue was up 10.6% on a year-over-year basis. During the same period last year, the business earned $0.04 EPS. On average, research analysts predict that NeoGenomics will post -0.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other NeoGenomics news, COO Warren Stone sold 22,128 shares of the company’s 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NeoGenomics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Horizon Corp boosted its position in shares of NeoGenomics by 52.6% during the 4th quarter. First Horizon Corp now owns 2,509 shares of the medical research company’s stock worth $30,000 after purchasing an additional 865 shares in the last quarter. Aster Capital Management DIFC Ltd boosted its holdings in NeoGenomics by 42.5% during the third quarter. Aster Capital Management DIFC Ltd now owns 3,341 shares of the medical research company’s stock worth $26,000 after buying an additional 997 shares in the last quarter. State of Alaska Department of Revenue grew its position in NeoGenomics by 1.7% during the fourth quarter. State of Alaska Department of Revenue now owns 73,044 shares of the medical research company’s stock worth $858,000 after buying an additional 1,215 shares during the period. Moody National Bank Trust Division grew its position in NeoGenomics by 1.4% during the third quarter. Moody National Bank Trust Division now owns 90,476 shares of the medical research company’s stock worth $698,000 after buying an additional 1,227 shares during the period. Finally, Amalgamated Bank increased its holdings in NeoGenomics by 3.4% in the third quarter. Amalgamated Bank now owns 37,965 shares of the medical research company’s stock valued at $293,000 after buying an additional 1,255 shares in the last quarter. Institutional investors and hedge funds 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.