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

Shares of NeoGenomics, Inc. (NASDAQ:NEO) have earned a consensus recommendation of “Buy” from the eleven brokerages that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $52.81.

NEO has been the subject of several research analyst reports. Benchmark increased their target price on shares of NeoGenomics from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, August 26th. Morgan Stanley lowered their price objective on shares of NeoGenomics from $64.00 to $58.00 and set an “overweight” rating for the company in a research note on Monday, August 9th. The Goldman Sachs Group assumed coverage on shares of NeoGenomics in a research note on Thursday, June 3rd. They issued a “buy” rating and a $55.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $55.00 price objective on shares of NeoGenomics in a research note on Monday, August 9th. Finally, Zacks Investment Research raised shares of NeoGenomics from a “sell” rating to a “hold” rating in a research note on Tuesday, August 17th.

Hedge funds have recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC grew its position in NeoGenomics by 4.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 235,441 shares of the medical research company’s stock valued at $10,635,000 after buying an additional 10,090 shares during the last quarter. Thrivent Financial for Lutherans grew its position in NeoGenomics by 0.4% in the 2nd quarter. Thrivent Financial for Lutherans now owns 96,405 shares of the medical research company’s stock valued at $4,355,000 after buying an additional 343 shares during the last quarter. Metropolitan Life Insurance Co NY grew its position in NeoGenomics by 105,910.3% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 30,743 shares of the medical research company’s stock valued at $1,389,000 after buying an additional 30,714 shares during the last quarter. Man Group plc grew its position in NeoGenomics by 1.9% in the 2nd quarter. Man Group plc now owns 97,473 shares of the medical research company’s stock valued at $4,402,000 after buying an additional 1,787 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in NeoGenomics by 0.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,559,047 shares of the medical research company’s stock valued at $70,422,000 after buying an additional 6,811 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors.

NEO stock traded up $0.39 during mid-day trading on Friday, hitting $47.77. 2,244 shares of the company were exchanged, compared to its average volume of 814,998. The company has a quick ratio of 7.07, a current ratio of 7.28 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $5.87 billion, a P/E ratio of 83.12 and a beta of 0.66. The business has a fifty day simple moving average of $46.20 and a 200-day simple moving average of $45.54. NeoGenomics has a 12-month low of $34.18 and a 12-month high of $61.57.

About NeoGenomics

NeoGenomics, Inc is a clinical laboratory company, which engages in cancer genetics diagnostic testing and pharma services. It operates through the Clinical Services and Pharma Services segments. The Clinical Services segment offers cancer testing services to community-based pathologists, hospitals, academic centers, and oncology groups.

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Analyst Recommendations for NeoGenomics (NASDAQ:NEO)

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