NeoGenomics (NASDAQ:NEO) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of NeoGenomics (NASDAQ:NEO) in a report published on Wednesday morning, Benzinga reports. The firm currently has a $19.00 target price on the medical research company’s stock.

NEO has been the subject of a number of other reports. Stephens reaffirmed an overweight rating and issued a $19.00 price objective on shares of NeoGenomics in a research note on Tuesday, July 30th. Benchmark restated a buy rating and issued a $18.00 price target on shares of NeoGenomics in a report on Tuesday, September 24th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $19.89.

NeoGenomics Trading Down 1.0 %

Shares of NEO opened at $14.50 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.01 and a quick ratio of 1.93. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of -21.97 and a beta of 1.19. The company has a 50-day moving average of $16.06 and a 200 day moving average of $14.93. NeoGenomics has a 1-year low of $11.03 and a 1-year high of $21.22.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings results on Monday, July 29th. The medical research company reported $0.03 earnings per share (EPS) for the quarter. The firm had revenue of $164.50 million during the quarter, compared to analyst estimates of $161.82 million. NeoGenomics had a negative return on equity of 2.72% and a negative net margin of 12.50%. NeoGenomics’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.09) earnings per share. On average, research analysts expect that NeoGenomics will post -0.22 EPS for the current year.

Institutional Investors Weigh In On NeoGenomics

Institutional investors have recently added to or reduced their stakes in the business. Bellevue Group AG acquired a new position in shares of NeoGenomics in the 1st quarter valued at $14,872,000. First Light Asset Management LLC lifted its holdings in shares of NeoGenomics by 29.6% during the fourth quarter. First Light Asset Management LLC now owns 3,926,756 shares of the medical research company’s stock worth $63,535,000 after purchasing an additional 897,843 shares during the period. Norges Bank purchased a new stake in NeoGenomics in the fourth quarter valued at approximately $14,512,000. Kopp LeRoy C purchased a new position in NeoGenomics during the 1st quarter worth approximately $14,062,000. Finally, Jennison Associates LLC boosted its holdings in shares of NeoGenomics by 77.8% in the 1st quarter. Jennison Associates LLC now owns 1,051,627 shares of the medical research company’s stock valued at $16,532,000 after acquiring an additional 460,071 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

About NeoGenomics

NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States and the United Kingdom. It operates through Clinical Services and Advanced Diagnostics segments. The company offers testing services to hospitals, academic centers, pathologists, oncologists, clinicians, pharmaceutical companies, and clinical laboratories.