NeoGenomics (NASDAQ:NEO) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of NeoGenomics (NASDAQ:NEO) in a research note issued to investors on Tuesday morning, Benzinga reports. The brokerage currently has a $19.00 target price on the medical research company’s stock.

Other equities research analysts have also recently issued reports about the company. Benchmark reissued a buy rating and issued a $18.00 price objective on shares of NeoGenomics in a research report on Tuesday. TD Cowen reduced their price objective on NeoGenomics from $21.00 to $20.00 and set a buy rating for the company in a research report on Wednesday, May 1st. Craig Hallum assumed coverage on NeoGenomics in a research report on Wednesday, May 1st. They issued a buy rating and a $26.00 price objective for the company. Finally, BTIG Research reduced their price objective 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’s stock. According to MarketBeat.com, NeoGenomics currently has a consensus rating of Moderate Buy and an average target price of $19.89.

NeoGenomics Stock Performance

Shares of NeoGenomics stock opened at $17.17 on Tuesday. The company has a quick ratio of 7.22, a current ratio of 2.01 and a debt-to-equity ratio of 0.37. The stock has a 50 day moving average price of $14.17 and a two-hundred day moving average price of $14.74. NeoGenomics has a 12-month low of $11.03 and a 12-month high of $21.22.

NeoGenomics (NASDAQ:NEO) last announced its 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 analysts’ expectations of $161.82 million. NeoGenomics had a negative return on equity of 2.72% and a negative net margin of 12.50%. The company’s revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.09) earnings per share. As a group, equities analysts predict that NeoGenomics will post -0.19 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. TD Asset Management Inc raised its stake in NeoGenomics by 3.2% during the second quarter. TD Asset Management Inc now owns 203,646 shares of the medical research company’s stock worth $2,825,000 after acquiring an additional 6,400 shares in the last quarter. Banque Cantonale Vaudoise raised its stake in NeoGenomics by 10.2% during the second quarter. Banque Cantonale Vaudoise now owns 17,575 shares of the medical research company’s stock worth $244,000 after acquiring an additional 1,633 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in NeoGenomics by 2.9% during the second quarter. Crossmark Global Holdings Inc. now owns 29,494 shares of the medical research company’s stock worth $409,000 after acquiring an additional 842 shares in the last quarter. HighMark Wealth Management LLC raised its stake in NeoGenomics by 2,993.3% during the second quarter. HighMark Wealth Management LLC now owns 92,800 shares of the medical research company’s stock worth $1,287,000 after acquiring an additional 89,800 shares in the last quarter. Finally, Kopp Family Office LLC raised its stake in NeoGenomics by 5.6% during the second quarter. Kopp Family Office LLC now owns 944,775 shares of the medical research company’s stock worth $13,104,000 after acquiring an additional 50,266 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

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.