Brokerages Set NeoGenomics, Inc. (NASDAQ:NEO) Price Target at $19.50

NeoGenomics, Inc. (NASDAQ:NEO) has received an average rating of “Moderate Buy” from the ten analysts that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $19.50.

Several analysts have commented on NEO shares. TD Cowen reduced their price objective on NeoGenomics from $22.00 to $19.00 and set an “outperform” rating for the company in a research note on Friday, December 29th. Needham & Company LLC upped their price target on NeoGenomics from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Piper Sandler boosted their price objective on shares of NeoGenomics from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, February 26th. William Blair restated an “outperform” rating on shares of NeoGenomics in a research report on Wednesday, February 21st. Finally, The Goldman Sachs Group raised their target price on NeoGenomics from $17.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, February 22nd.

Insider Buying and Selling

In other news, General Counsel Alicia C. Olivo sold 2,587 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $14.96, for a total transaction of $38,701.52. Following the completion of the sale, the general counsel now directly owns 34,866 shares of the company’s stock, valued at approximately $521,595.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NEO. AE Wealth Management LLC increased its holdings in NeoGenomics by 14.4% in the 3rd quarter. AE Wealth Management LLC now owns 36,831 shares of the medical research company’s stock valued at $453,000 after purchasing an additional 4,646 shares in the last quarter. SG Americas Securities LLC acquired a new stake in NeoGenomics in the third quarter valued at approximately $1,844,000. Mach 1 Financial Group LLC boosted its stake in shares of NeoGenomics by 14.4% in the third quarter. Mach 1 Financial Group LLC now owns 34,929 shares of the medical research company’s stock valued at $430,000 after purchasing an additional 4,388 shares during the period. Howland Capital Management LLC grew its holdings in NeoGenomics by 12.9% during the 3rd quarter. Howland Capital Management LLC now owns 42,390 shares of the medical research company’s stock valued at $521,000 after purchasing an additional 4,840 shares in the last quarter. Finally, Brown Advisory Inc. increased its stake in NeoGenomics by 25.0% during the 3rd quarter. Brown Advisory Inc. now owns 8,246,202 shares of the medical research company’s stock worth $101,428,000 after buying an additional 1,651,717 shares during the period. 98.50% of the stock is owned by institutional investors and hedge funds.

NeoGenomics Stock Down 1.3 %

Shares of NEO opened at $13.85 on Friday. The company’s 50 day simple moving average is $15.04 and its 200-day simple moving average is $15.88. NeoGenomics has a 12-month low of $11.03 and a 12-month high of $21.22. The company has a debt-to-equity ratio of 0.57, a quick ratio of 5.95 and a current ratio of 6.20.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings data on Tuesday, February 20th. The medical research company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.05. NeoGenomics had a negative net margin of 14.87% and a negative return on equity of 4.13%. The company had revenue of $155.55 million for the quarter, compared to the consensus estimate of $152.90 million. Sell-side analysts expect that NeoGenomics will post -0.2 earnings per share for the current year.

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.