NeoGenomics, Inc. (NASDAQ:NEO) Given Average Rating of “Moderate Buy” by Brokerages

NeoGenomics, Inc. (NASDAQ:NEO) has earned an average recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $17.6667.

A number of research firms have recently commented on NEO. Needham & Company LLC raised their price objective on shares of NeoGenomics from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Benchmark upped their target price on shares of NeoGenomics from $11.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Zacks Research raised shares of NeoGenomics from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. TD Cowen restated a “buy” rating on shares of NeoGenomics in a research note on Wednesday, July 15th. Finally, Weiss Ratings raised NeoGenomics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th.

Institutional Trading of NeoGenomics

Several institutional investors have recently bought and sold shares of NEO. Entropy Technologies LP raised its position in shares of NeoGenomics by 6.9% during the fourth quarter. Entropy Technologies LP now owns 23,037 shares of the medical research company’s stock worth $271,000 after purchasing an additional 1,480 shares during the period. Smartleaf Asset Management LLC grew its position in shares of NeoGenomics by 77.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,466 shares of the medical research company’s stock valued at $42,000 after purchasing an additional 1,515 shares during the period. MetLife Investment Management LLC grew its position in shares of NeoGenomics by 2.2% in the 4th quarter. MetLife Investment Management LLC now owns 71,734 shares of the medical research company’s stock valued at $844,000 after purchasing an additional 1,524 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in NeoGenomics by 110.2% during the 4th 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. Finally, Moors & Cabot Inc. increased its stake in NeoGenomics by 14.6% during the 3rd quarter. Moors & Cabot Inc. now owns 13,750 shares of the medical research company’s stock worth $106,000 after purchasing an additional 1,750 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

NeoGenomics Stock Performance

Shares of NASDAQ NEO opened at $17.61 on Friday. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of -44.02 and a beta of 1.75. NeoGenomics has a one year low of $7.07 and a one year high of $19.76. The business has a fifty day simple moving average of $15.86 and a 200 day simple moving average of $11.71. The company has a current ratio of 3.60, a quick ratio of 3.35 and a debt-to-equity ratio of 0.48.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Tuesday, July 28th. The medical research company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The firm had revenue of $201.66 million for the quarter, compared to the consensus estimate of $196.93 million. NeoGenomics had a negative net margin of 6.77% and a negative return on equity of 1.99%. The business’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.03 earnings per share. Sell-side analysts expect that NeoGenomics will post -0.09 EPS for the current year.

About NeoGenomics

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.