NeoGenomics (NASDAQ:NEO) Price Target Raised to $19.00

NeoGenomics (NASDAQ:NEO) had its target price upped by Bank of America from $18.00 to $19.00 in a research report report published on Friday morning,Benzinga reports. They currently have a neutral rating on the medical research company’s stock.

Other equities research analysts have also issued reports about the company. Benchmark restated a “buy” rating and set a $18.00 price target on shares of NeoGenomics in a research report on Tuesday, September 24th. Jefferies Financial Group assumed coverage on NeoGenomics in a research report on Tuesday, December 10th. They set a “buy” rating and a $22.00 price target on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $19.00 price target on shares of NeoGenomics in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.30.

NeoGenomics Price Performance

NEO opened at $17.73 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.91 and a current ratio of 1.99. NeoGenomics has a 52-week low of $12.77 and a 52-week high of $21.22. The stock has a market capitalization of $2.28 billion, a PE ratio of -29.07 and a beta of 1.24. The stock’s 50 day moving average price is $15.39 and its 200-day moving average price is $15.14.

NeoGenomics (NASDAQ:NEO) last posted its earnings results 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 return on equity of 2.11% and a negative net margin of 12.07%. The firm had revenue of $167.80 million for the quarter, compared to analysts’ expectations of $167.00 million. During the same period in the previous year, the firm earned ($0.06) earnings per share. The business’s revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts predict that NeoGenomics will post -0.16 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Alicia C. Olivo sold 5,175 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $15.36, for a total transaction of $79,488.00. Following the transaction, the general counsel now directly owns 37,129 shares of the company’s stock, valued at $570,301.44. This represents a 12.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Blue Trust Inc. lifted its holdings in shares of NeoGenomics by 107.2% during the second quarter. Blue Trust Inc. now owns 2,331 shares of the medical research company’s stock valued at $32,000 after purchasing an additional 1,206 shares in the last quarter. Quarry LP bought a new position in shares of NeoGenomics during the third quarter valued at $40,000. Canada Pension Plan Investment Board bought a new position in shares of NeoGenomics during the second quarter valued at $57,000. KBC Group NV lifted its holdings in shares of NeoGenomics by 33.1% during the third quarter. KBC Group NV now owns 4,530 shares of the medical research company’s stock valued at $67,000 after purchasing an additional 1,127 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of NeoGenomics by 7.6% during the third quarter. FMR LLC now owns 13,255 shares of the medical research company’s stock valued at $196,000 after purchasing an additional 931 shares in the last quarter. 98.50% of the stock is owned by institutional investors.

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.