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

Shares of NeoGenomics, Inc. (NASDAQ:NEO) have been assigned a consensus recommendation of “Hold” from the twelve analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $13.8571.

Several research firms recently issued reports on NEO. Weiss Ratings raised shares of NeoGenomics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. Leerink Partners raised shares of NeoGenomics from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $12.00 to $25.00 in a report on Wednesday, April 29th. UBS Group reissued a “hold” rating on shares of NeoGenomics in a report on Wednesday, February 18th. Zacks Research cut NeoGenomics from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Finally, Needham & Company LLC raised their target price on shares of NeoGenomics from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th.

NeoGenomics Stock Up 4.5%

NEO stock opened at $11.44 on Wednesday. The company has a current ratio of 4.42, a quick ratio of 4.06 and a debt-to-equity ratio of 0.41. The company’s 50-day moving average price is $8.85 and its 200 day moving average price is $10.31. NeoGenomics has a 52 week low of $4.72 and a 52 week high of $13.74. The company has a market cap of $1.49 billion, a P/E ratio of -14.86 and a beta of 1.82.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings results on Tuesday, April 28th. The medical research company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. NeoGenomics had a negative return on equity of 2.80% and a negative net margin of 13.30%.The business had revenue of $186.67 million for the quarter, compared to analyst estimates of $184.54 million. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, research analysts expect that NeoGenomics will post -0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NeoGenomics

A number of hedge funds have recently added to or reduced their stakes in NEO. First Horizon Corp grew its position in NeoGenomics by 52.6% in the fourth quarter. First Horizon Corp now owns 2,509 shares of the medical research company’s stock worth $30,000 after acquiring an additional 865 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in NeoGenomics by 110.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,968 shares of the medical research company’s stock worth $35,000 after purchasing an additional 1,556 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in NeoGenomics during the fourth quarter worth $39,000. Aster Capital Management DIFC Ltd raised its holdings in NeoGenomics by 42.5% during the third quarter. Aster Capital Management DIFC Ltd now owns 3,341 shares of the medical research company’s stock valued at $26,000 after buying an additional 997 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of NeoGenomics by 77.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,466 shares of the medical research company’s stock worth $42,000 after buying an additional 1,515 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

NeoGenomics Company Profile

NeoGenomics, traded on the Nasdaq under the symbol NEO, is a leading provider of cancer-focused genetic and molecular testing services. Headquartered in Fort Myers, Florida, the company operates an integrated network of CAP-accredited and CLIA-certified laboratories across the United States, Europe and Asia. NeoGenomics delivers diagnostic insights that support oncologists, pathologists and healthcare institutions in the detection, prognosis and treatment of hematologic and solid tumor cancers.

The company’s core service offerings include flow cytometry, immunohistochemistry, fluorescence in situ hybridization (FISH), karyotyping and advanced molecular assays such as next-generation sequencing (NGS) panels and polymerase chain reaction (PCR) tests.