NeoGenomics (NASDAQ:NEO) had its target price lifted by Needham & Company LLC from $33.00 to $39.00 in a research note released on Wednesday morning, BenzingaRatingsTable reports. They currently have a buy rating on the medical research company’s stock.
Several other equities analysts have also recently issued reports on the company. ValuEngine cut NeoGenomics from a buy rating to a hold rating in a research report on Friday, May 1st. SVB Leerink reaffirmed a buy rating and issued a $35.00 price objective (up from $33.00) on shares of NeoGenomics in a research report on Wednesday, April 29th. Bank of America assumed coverage on NeoGenomics in a research report on Thursday, June 25th. They issued a buy rating and a $34.00 price objective on the stock. CIBC cut NeoGenomics to a neutral rating and lowered their price objective for the company from $11.00 to $9.00 in a research report on Friday, May 15th. Finally, Stephens started coverage on NeoGenomics in a report on Tuesday, April 21st. They set an overweight rating and a $33.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. NeoGenomics currently has a consensus rating of Buy and a consensus price target of $35.80.
Shares of NEO opened at $38.23 on Wednesday. The company has a quick ratio of 2.88, a current ratio of 6.79 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average price is $32.69 and its 200-day moving average price is $29.86. NeoGenomics has a 52 week low of $18.52 and a 52 week high of $38.74. The stock has a market cap of $4.03 billion, a P/E ratio of -764.60 and a beta of 0.76.
NeoGenomics (NASDAQ:NEO) last released its quarterly earnings data on Tuesday, July 28th. The medical research company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.06. The business had revenue of $86.90 million for the quarter, compared to analysts’ expectations of $86.55 million. NeoGenomics had a positive return on equity of 0.73% and a negative net margin of 1.33%. The firm’s quarterly revenue was down 14.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.07 EPS. On average, equities analysts anticipate that NeoGenomics will post -0.1 EPS for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. C M Bidwell & Associates Ltd. purchased a new stake in shares of NeoGenomics in the 1st quarter worth $30,000. Carroll Financial Associates Inc. purchased a new stake in shares of NeoGenomics in the 2nd quarter worth $31,000. Global Retirement Partners LLC increased its stake in shares of NeoGenomics by 27.1% in the 1st quarter. Global Retirement Partners LLC now owns 2,110 shares of the medical research company’s stock worth $58,000 after purchasing an additional 450 shares in the last quarter. Jacobi Capital Management LLC increased its stake in shares of NeoGenomics by 70.1% in the 2nd quarter. Jacobi Capital Management LLC now owns 3,401 shares of the medical research company’s stock worth $62,000 after purchasing an additional 1,401 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC increased its stake in shares of NeoGenomics by 108.3% in the 2nd quarter. Prime Capital Investment Advisors LLC now owns 2,083 shares of the medical research company’s stock worth $65,000 after purchasing an additional 1,083 shares in the last quarter. 88.78% of the stock is currently owned by hedge funds and other institutional investors.
NeoGenomics Company Profile
NeoGenomics, Inc, together with its subsidiaries, operates a network of cancer-focused genetic testing laboratories in the United States; and laboratories in Switzerland and Singapore. It operates in two segments, Clinical Services and Pharma Services. The company's laboratories provide genetic and molecular testing services to hospitals, pathologists, oncologists, urologists, other clinicians and researchers, pharmaceutical firms, academic centers, and other clinical laboratories.
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