NeoGenomics, Inc. (NASDAQ:NEO) Stock Has Consensus Target Price of $20.88 According to Brokerages

NeoGenomics, Inc. (NASDAQ:NEO) has received a consensus recommendation of “Moderate Buy” from the twelve research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $20.88.

Several equities research analysts recently issued reports on NEO shares. Craig Hallum reaffirmed a “buy” rating and set a $19.00 price target on shares of NeoGenomics in a research note on Wednesday, July 29th. Jefferies Financial Group restated a “buy” rating and issued a $21.00 target price on shares of NeoGenomics in a research note on Thursday, October 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NeoGenomics in a research note on Monday, October 12th. Zacks Research downgraded NeoGenomics from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Finally, BTIG Research restated a “buy” rating and issued a $28.00 price objective on shares of NeoGenomics in a research report on Thursday, October 29th.

Hedge Funds Weigh In On NeoGenomics

A number of hedge funds have recently made changes to their positions in NEO. First Light Asset Management LLC lifted its holdings in NeoGenomics by 26.2% in the 2nd quarter. First Light Asset Management LLC now owns 12,279,523 shares of the medical research company’s stock valued at $179,158,000 after purchasing an additional 2,549,545 shares in the last quarter. First Trust Advisors LP bought a new position in shares of NeoGenomics in the first quarter worth about $45,725,000. Dimensional Fund Advisors LP grew its position in NeoGenomics by 9.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,674,335 shares of the medical research company’s stock valued at $19,842,000 after buying an additional 225,588 shares during the last quarter. American Capital Management Inc. bought a new position in NeoGenomics in the 2nd quarter valued at about $32,648,000. Finally, Granite Investment Partners LLC acquired a new position in NeoGenomics in the 1st quarter worth $5,583,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

NeoGenomics Stock Up 2.1%

Shares of NASDAQ NEO opened at $16.84 on Friday. The stock’s 50-day simple moving average is $17.64 and its two-hundred day simple moving average is $12.92. NeoGenomics has a twelve month low of $7.07 and a twelve month high of $20.15. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.31 and a current ratio of 3.53.

NeoGenomics (NASDAQ:NEO) last issued its earnings results on Wednesday, October 28th. The medical research company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. NeoGenomics had a negative net margin of 4.10% and a negative return on equity of 0.99%. The company had revenue of $209.25 million during the quarter, compared to the consensus estimate of $206.70 million. During the same quarter in the prior year, the firm posted $0.03 EPS. NeoGenomics’s quarterly revenue was up 11.3% compared to the same quarter last year. On average, analysts predict that NeoGenomics will post -0.06 EPS for the current year.

NeoGenomics Company Profile

NeoGenomics, Inc (NASDAQ: NEO) is a cancer-focused diagnostics company that provides laboratory testing and related services to oncologists, hospitals, academic institutions, and biopharmaceutical companies. Its diagnostic offerings support the detection, classification, and monitoring of cancer and help inform treatment decisions.

The company’s services include pathology, immunohistochemistry, flow cytometry, cytogenetics, molecular testing, and other specialized oncology assays. NeoGenomics also provides clinical trial and pharmaceutical services, including biomarker testing, central laboratory support, and companion diagnostic development for drug developers.

Founded in 1999, NeoGenomics has expanded through internal growth and acquisitions and operates a network of clinical laboratories serving customers primarily in the United States, with additional international capabilities.