NeoGenomics, Inc. (NASDAQ:NEO) Receives $11.57 Average Price Target from Analysts

Shares of NeoGenomics, Inc. (NASDAQ:NEO) have been assigned a consensus rating of “Hold” from the fourteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $11.8571.

A number of equities research analysts have recently commented on NEO shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of NeoGenomics in a research report on Monday, December 29th. Zacks Research cut shares of NeoGenomics from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Piper Sandler increased their price objective on shares of NeoGenomics from $12.00 to $13.00 and gave the company an “overweight” rating in a report on Tuesday. Needham & Company LLC boosted their target price on NeoGenomics from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Finally, TD Cowen restated a “buy” rating on shares of NeoGenomics in a research report on Wednesday, January 7th.

NeoGenomics Stock Performance

NASDAQ NEO opened at $9.82 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.26 and a quick ratio of 3.94. The stock’s 50 day simple moving average is $11.94 and its 200-day simple moving average is $10.26. The company has a market cap of $1.27 billion, a PE ratio of -11.69 and a beta of 1.58. NeoGenomics has a 1-year low of $4.72 and a 1-year high of $13.74.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings results on Tuesday, February 17th. The medical research company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02. The firm had revenue of $190.17 million during the quarter, compared to analysts’ expectations of $188.25 million. NeoGenomics had a negative return on equity of 3.10% and a negative net margin of 14.85%.The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.04 earnings per share. As a group, equities research analysts anticipate that NeoGenomics will post -0.2 EPS for the current fiscal year.

Insider Transactions at NeoGenomics

In other NeoGenomics news, COO Warren Stone sold 22,128 shares of the company’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $12.50, for a total value of $276,600.00. Following the completion of the sale, the chief operating officer directly owned 121,631 shares in the company, valued at $1,520,387.50. This represents a 15.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NeoGenomics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its holdings in shares of NeoGenomics by 51.2% during the 1st quarter. Royal Bank of Canada now owns 56,026 shares of the medical research company’s stock worth $532,000 after purchasing an additional 18,966 shares during the period. AQR Capital Management LLC acquired a new position in NeoGenomics in the first quarter valued at about $271,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in NeoGenomics by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 75,798 shares of the medical research company’s stock worth $719,000 after buying an additional 3,254 shares during the period. Intech Investment Management LLC increased its position in shares of NeoGenomics by 19.7% during the first quarter. Intech Investment Management LLC now owns 151,806 shares of the medical research company’s stock valued at $1,441,000 after acquiring an additional 24,965 shares during the last quarter. Finally, CWM LLC raised its stake in shares of NeoGenomics by 118.9% in the 2nd quarter. CWM LLC now owns 13,787 shares of the medical research company’s stock valued at $101,000 after acquiring an additional 7,488 shares during the period. Hedge funds and other institutional investors own 98.50% of the company’s stock.

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.