NeoGenomics (NASDAQ:NEO) Now Covered by Jefferies Financial Group

Research analysts at Jefferies Financial Group initiated coverage on shares of NeoGenomics (NASDAQ:NEO) in a report issued on Tuesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $22.00 price target on the medical research company’s stock. Jefferies Financial Group’s price target indicates a potential upside of 21.55% from the stock’s previous close.

Several other research firms have also recently commented on NEO. Needham & Company LLC reiterated a “buy” rating and set a $19.00 target price on shares of NeoGenomics in a research note on Wednesday, November 6th. Benchmark reiterated a “buy” rating and set a $18.00 target price on shares of NeoGenomics in a research note on Tuesday, September 24th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, NeoGenomics presently has a consensus rating of “Buy” and a consensus price target of $20.44.

NeoGenomics Stock Up 1.1 %

NASDAQ:NEO traded up $0.19 during trading hours on Tuesday, hitting $18.10. The stock had a trading volume of 31,943 shares, compared to its average volume of 798,211. The company has a current ratio of 1.99, a quick ratio of 1.91 and a debt-to-equity ratio of 0.37. NeoGenomics has a 1-year low of $12.77 and a 1-year high of $21.22. The business has a 50 day simple moving average of $15.07 and a two-hundred day simple moving average of $15.03. The company has a market cap of $2.32 billion, a PE ratio of -29.67 and a beta of 1.24.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings data on Tuesday, November 5th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. The company had revenue of $167.80 million during the quarter, compared to the consensus estimate of $167.00 million. During the same quarter last year, the company earned ($0.06) earnings per share. NeoGenomics’s revenue for the quarter was up 10.5% on a year-over-year basis. Analysts predict that NeoGenomics will post -0.17 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Alicia C. Olivo sold 5,175 shares of NeoGenomics stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $15.36, for a total transaction of $79,488.00. Following the completion of the sale, the general counsel now directly owns 37,129 shares in the company, valued at $570,301.44. The trade was a 12.23 % decrease in their position. 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 Investors Weigh In On NeoGenomics

Several institutional investors have recently made changes to their positions in NEO. Blue Trust Inc. lifted its holdings in shares of NeoGenomics by 107.2% during the 2nd quarter. Blue Trust Inc. now owns 2,331 shares of the medical research company’s stock valued at $32,000 after buying an additional 1,206 shares during the last quarter. Quarry LP bought a new position in shares of NeoGenomics in the 3rd quarter valued at approximately $40,000. Canada Pension Plan Investment Board bought a new position in shares of NeoGenomics in the 2nd quarter valued at approximately $57,000. KBC Group NV raised its stake in shares of NeoGenomics by 33.1% in the 3rd quarter. KBC Group NV now owns 4,530 shares of the medical research company’s stock valued at $67,000 after acquiring an additional 1,127 shares in the last quarter. Finally, FMR LLC raised its stake in shares of NeoGenomics by 7.6% in the 3rd quarter. FMR LLC now owns 13,255 shares of the medical research company’s stock valued at $196,000 after acquiring an additional 931 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.