NeoGenomics (NASDAQ:NEO) Price Target Raised to $22.00

NeoGenomics (NASDAQ:NEO) had its price objective raised by Needham & Company LLC from $19.00 to $22.00 in a research note issued to investors on Tuesday, Marketbeat reports. They currently have a buy rating on the medical research company’s stock.

Several other research firms also recently commented on NEO. Weiss Ratings raised NeoGenomics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. Wall Street Zen raised NeoGenomics from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. TD Cowen restated a “buy” rating on shares of NeoGenomics in a research note on Wednesday, July 15th. Benchmark upped their price objective on NeoGenomics from $11.00 to $16.00 and gave the company a “buy” rating in a report on Friday, July 24th. Finally, Craig Hallum reiterated a “buy” rating and set a $19.00 price objective on shares of NeoGenomics in a research report on Wednesday, July 29th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.17.

NeoGenomics Stock Performance

NEO opened at $16.02 on Tuesday. The business has a 50 day moving average of $17.47 and a 200-day moving average of $13.06. NeoGenomics has a 12-month low of $7.07 and a 12-month high of $20.15. The stock 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.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of NeoGenomics by 30.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,782 shares of the medical research company’s stock valued at $51,000 after purchasing an additional 644 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of NeoGenomics by 117.0% in the third quarter. Farther Finance Advisors LLC now owns 1,701 shares of the medical research company’s stock valued at $31,000 after buying an additional 917 shares during the period. First Light Asset Management LLC increased its position 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 acquiring an additional 2,549,545 shares during the period. WINTON GROUP Ltd acquired a new stake in NeoGenomics in the second quarter valued at $925,000. Finally, Integrated Wealth Concepts LLC bought a new position in shares of NeoGenomics during the second quarter worth about $99,000. 98.50% of the stock is owned by institutional investors.

About NeoGenomics

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.