NeoGenomics’ (NEO) Buy Rating Reiterated at Benchmark

Benchmark reaffirmed their buy rating on shares of NeoGenomics (NASDAQ:NEO) in a research report released on Tuesday, Benzinga reports. The brokerage currently has a $18.00 price objective on the medical research company’s stock.

Several other research firms have also weighed in on NEO. Craig Hallum assumed coverage on shares of NeoGenomics in a research report on Wednesday, May 1st. They set a buy rating and a $26.00 price target for the company. TD Cowen decreased their price target on shares of NeoGenomics from $21.00 to $20.00 and set a buy rating for the company in a research note on Wednesday, May 1st. Needham & Company LLC dropped their price objective on NeoGenomics from $24.00 to $19.00 and set a buy rating on the stock in a research note on Tuesday, April 30th. Finally, BTIG Research decreased their target price on NeoGenomics from $23.00 to $21.00 and set a buy rating for the company in a research report on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, NeoGenomics currently has an average rating of Moderate Buy and an average target price of $19.89.

NeoGenomics Stock Performance

NeoGenomics stock opened at $17.50 on Tuesday. NeoGenomics has a 52 week low of $11.03 and a 52 week high of $21.22. The company’s 50 day moving average price is $14.11 and its two-hundred day moving average price is $14.73. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.01 and a quick ratio of 7.22.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings results on Monday, July 29th. The medical research company reported $0.03 EPS for the quarter. The business had revenue of $164.50 million for 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% compared to the same quarter last year. During the same period last year, the company posted ($0.09) earnings per share. On average, research analysts predict that NeoGenomics will post -0.19 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its holdings in shares of NeoGenomics by 107.2% in the second quarter. Blue Trust Inc. now owns 2,331 shares of the medical research company’s stock worth $32,000 after buying an additional 1,206 shares in the last quarter. Burkett Financial Services LLC purchased a new stake in NeoGenomics in the 4th quarter worth approximately $46,000. Quadrant Capital Group LLC boosted its holdings in NeoGenomics by 22.0% in the 4th quarter. Quadrant Capital Group LLC now owns 4,900 shares of the medical research company’s stock valued at $79,000 after purchasing an additional 883 shares during the period. PNC Financial Services Group Inc. grew its position in shares of NeoGenomics by 27.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,434 shares of the medical research company’s stock valued at $136,000 after purchasing an additional 1,791 shares in the last quarter. Finally, Banque Cantonale Vaudoise increased its holdings in shares of NeoGenomics by 10.2% in the second quarter. Banque Cantonale Vaudoise now owns 17,575 shares of the medical research company’s stock worth $244,000 after purchasing an additional 1,633 shares during the period. Institutional investors own 98.50% of the company’s stock.

NeoGenomics Company Profile

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.