NeoGenomics, Inc. (NASDAQ:NEO) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of NeoGenomics, Inc. (NASDAQ:NEO) have earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $19.89.

Several research analysts have recently weighed in on NEO shares. Needham & Company LLC restated a “buy” rating and issued a $19.00 target price on shares of NeoGenomics in a research note on Tuesday, July 30th. TD Cowen cut their price target on shares of NeoGenomics from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. BTIG Research cut their price target on shares of NeoGenomics from $23.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Benchmark reaffirmed a “buy” rating and issued a $18.00 price target on shares of NeoGenomics in a report on Tuesday, July 30th. Finally, Stephens reaffirmed an “overweight” rating and issued a $19.00 price target on shares of NeoGenomics in a report on Tuesday, July 30th.

NeoGenomics Price Performance

Shares of NEO stock opened at $17.17 on Friday. The company has a market capitalization of $2.20 billion, a PE ratio of -26.02 and a beta of 1.18. The firm has a fifty day simple moving average of $14.17 and a 200-day simple moving average of $14.73. The company has a current ratio of 2.01, a quick ratio of 7.22 and a debt-to-equity ratio of 0.37. NeoGenomics has a twelve month low of $11.03 and a twelve 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 for the quarter. The business had revenue of $164.50 million during the quarter, compared to the consensus estimate of $161.82 million. NeoGenomics had a negative net margin of 12.50% and a negative return on equity of 2.72%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.09) earnings per share. Equities research analysts anticipate that NeoGenomics will post -0.19 earnings per share for the current fiscal year.

Institutional Trading of NeoGenomics

A number of institutional investors and hedge funds have recently modified their holdings of NEO. Crossmark Global Holdings Inc. increased its stake in NeoGenomics by 2.9% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 29,494 shares of the medical research company’s stock valued at $409,000 after buying an additional 842 shares during the period. Quadrant Capital Group LLC increased its position in shares of NeoGenomics by 22.0% in the fourth quarter. Quadrant Capital Group LLC now owns 4,900 shares of the medical research company’s stock worth $79,000 after acquiring an additional 883 shares in the last quarter. Banque Cantonale Vaudoise increased its position in shares of NeoGenomics by 6.6% in the first quarter. Banque Cantonale Vaudoise now owns 15,942 shares of the medical research company’s stock worth $251,000 after acquiring an additional 993 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of NeoGenomics by 1.9% in the second quarter. Louisiana State Employees Retirement System now owns 64,300 shares of the medical research company’s stock worth $892,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Blue Trust Inc. increased its position 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 acquiring an additional 1,206 shares in the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

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.