Analysts Set NeoGenomics, Inc. (NASDAQ:NEO) Price Target at $20.30

NeoGenomics, Inc. (NASDAQ:NEO) has been given a consensus recommendation of “Moderate Buy” by the eleven ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $20.30.

NEO has been the topic of several research reports. Bank of America raised their target price on NeoGenomics from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Benchmark restated a “buy” rating and set a $18.00 target price on shares of NeoGenomics in a research report on Tuesday, September 24th. Jefferies Financial Group assumed coverage on shares of NeoGenomics in a research report on Tuesday, December 10th. They issued a “buy” rating and a $22.00 price target on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $19.00 price objective on shares of NeoGenomics in a research note on Wednesday, November 6th.

Insider Buying and Selling

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 5,175 shares of NeoGenomics stock in a transaction on Friday, November 15th. The shares were sold at an average price of $15.36, for a total value of $79,488.00. Following the sale, the general counsel now directly owns 37,129 shares in the company, valued at approximately $570,301.44. The trade was a 12.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NEO. Quarry LP purchased a new position in NeoGenomics during the 3rd quarter valued at approximately $40,000. Blue Trust Inc. grew its holdings in shares of NeoGenomics by 42.3% in the third quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock valued at $46,000 after purchasing an additional 987 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in NeoGenomics in the second quarter worth $57,000. KBC Group NV raised its stake in 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 position in 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 during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

NeoGenomics Price Performance

NEO opened at $16.83 on Wednesday. The company’s 50-day simple moving average is $16.07 and its two-hundred day simple moving average is $15.37. NeoGenomics has a 52-week low of $12.77 and a 52-week high of $19.00. The stock has a market capitalization of $2.16 billion, a P/E ratio of -27.59 and a beta of 1.24. 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 (NASDAQ:NEO) last posted its earnings results on Tuesday, November 5th. The medical research company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The business had revenue of $167.80 million during the quarter, compared to the consensus estimate of $167.00 million. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. The firm’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.06) EPS. As a group, analysts predict that NeoGenomics will post -0.16 EPS for the current year.

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.