NeoGenomics, Inc. (NASDAQ:NEO) Receives $13.86 Average PT from Brokerages

Shares of NeoGenomics, Inc. (NASDAQ:NEO) have been given an average recommendation of “Hold” by the thirteen analysts that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $13.8571.

Several research firms recently issued reports on NEO. UBS Group restated a “hold” rating on shares of NeoGenomics in a research report on Wednesday, February 18th. Weiss Ratings restated a “sell (d-)” rating on shares of NeoGenomics in a research report on Friday, March 27th. TD Cowen raised their price target on NeoGenomics from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Needham & Company LLC raised their price target on NeoGenomics from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Finally, Piper Sandler raised their price target on NeoGenomics from $12.00 to $13.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 24th.

NeoGenomics Price Performance

NEO opened at $8.26 on Friday. The stock’s 50 day simple moving average is $8.31 and its 200 day simple moving average is $10.37. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.42 and a quick ratio of 4.06. NeoGenomics has a 1 year low of $4.72 and a 1 year high of $13.74. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -10.73 and a beta of 1.81.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Tuesday, April 28th. The medical research company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. NeoGenomics had a negative return on equity of 2.80% and a negative net margin of 13.30%.The business had revenue of $186.67 million for the quarter, compared to analyst estimates of $184.54 million. The firm’s revenue was up 11.3% on a year-over-year basis. As a group, analysts predict that NeoGenomics will post -0.15 earnings per share for the current year.

Institutional Investors Weigh In On NeoGenomics

A number of large investors have recently made changes to their positions in NEO. First Trust Advisors LP bought a new stake in shares of NeoGenomics in the 1st quarter worth approximately $45,725,000. First Light Asset Management LLC grew its position in shares of NeoGenomics by 45.0% in the 3rd quarter. First Light Asset Management LLC now owns 9,927,269 shares of the medical research company’s stock worth $76,639,000 after buying an additional 3,080,837 shares during the last quarter. Loomis Sayles & Co. L P bought a new stake in shares of NeoGenomics in the 4th quarter worth approximately $19,182,000. American Capital Management Inc. grew its position in shares of NeoGenomics by 120.9% in the 3rd quarter. American Capital Management Inc. now owns 2,345,263 shares of the medical research company’s stock worth $18,105,000 after buying an additional 1,283,390 shares during the last quarter. Finally, Aberdeen Group plc grew its position in shares of NeoGenomics by 127.1% in the 4th quarter. Aberdeen Group plc now owns 1,798,939 shares of the medical research company’s stock worth $21,156,000 after buying an additional 1,006,676 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

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.