NeoGenomics (NASDAQ:NEO) Price Target Raised to $19.00

NeoGenomics (NASDAQ:NEO) had its target price hoisted by Needham & Company LLC from $15.00 to $19.00 in a research note released on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has a buy rating on the medical research company’s stock.

NEO has been the topic of several other reports. Benchmark increased their price objective on NeoGenomics from $11.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Wall Street Zen upgraded NeoGenomics from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. TD Cowen reaffirmed a “buy” rating on shares of NeoGenomics in a research note on Wednesday, July 15th. Leerink Partners upgraded shares of NeoGenomics from a “market perform” rating to an “outperform” rating and increased their price target for the company from $12.00 to $25.00 in a research report on Wednesday, April 29th. Finally, Weiss Ratings raised shares of NeoGenomics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, NeoGenomics presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.71.

NeoGenomics Trading Down 3.7%

Shares of NEO stock opened at $15.29 on Wednesday. The company has a market capitalization of $1.96 billion, a PE ratio of -38.22 and a beta of 1.74. NeoGenomics has a 52-week low of $4.72 and a 52-week high of $16.17. The business’s fifty day moving average is $12.77 and its 200 day moving average is $10.72. The company has a debt-to-equity ratio of 0.48, a quick ratio of 4.06 and a current ratio of 3.60.

NeoGenomics (NASDAQ:NEO) last posted its earnings results on Tuesday, July 28th. The medical research company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. The business had revenue of $201.66 million during the quarter, compared to analysts’ expectations of $196.93 million. NeoGenomics had a negative return on equity of 1.99% and a negative net margin of 6.77%.The firm’s revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.03 earnings per share. On average, equities research analysts anticipate that NeoGenomics will post -0.16 EPS for the current fiscal year.

Insider Activity at NeoGenomics

In other news, Director Lynn A. Tetrault sold 5,307 shares of NeoGenomics stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $11.29, for a total value of $59,916.03. Following the transaction, the director owned 91,422 shares in the company, valued at approximately $1,032,154.38. The trade was a 5.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On NeoGenomics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. First Horizon Corp lifted 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 valued at $30,000 after purchasing an additional 865 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of NeoGenomics by 110.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,968 shares of the medical research company’s stock valued at $35,000 after purchasing an additional 1,556 shares during the period. Kestra Advisory Services LLC bought a new position in shares of NeoGenomics in the fourth quarter worth approximately $39,000. Smartleaf Asset Management LLC grew its holdings 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 purchasing an additional 1,515 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of NeoGenomics by 68.2% in the fourth quarter. GAMMA Investing LLC now owns 3,602 shares of the medical research company’s stock worth $42,000 after buying an additional 1,460 shares during the period. 98.50% of the stock is currently owned by institutional investors.

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.