Analysts Set NeoGenomics, Inc. (NASDAQ:NEO) PT at $20.63

   2019-07-30 23:07

NeoGenomics, Inc. (NASDAQ:NEO) has earned a consensus recommendation of “Buy” from the eleven research firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $20.63.

NEO has been the subject of several research reports. Needham & Company LLC reissued a “buy” rating and set a $24.00 price objective (up previously from $22.00) on shares of NeoGenomics in a report on Wednesday, May 1st. Zacks Investment Research cut shares of NeoGenomics from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. BidaskClub cut shares of NeoGenomics from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 18th. Finally, CIBC upgraded shares of NeoGenomics from a “neutral” rating to an “outperform” rating and decreased their target price for the company from $18.00 to $15.00 in a research report on Tuesday, March 12th.



In other news, insider George Cardoza sold 151,676 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $22.82, for a total transaction of $3,461,246.32. Following the sale, the insider now directly owns 452,507 shares in the company, valued at approximately $10,326,209.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jennifer Balliet sold 30,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $22.74, for a total transaction of $682,200.00. Following the sale, the vice president now owns 39,529 shares in the company, valued at $898,889.46. The disclosure for this sale can be found here. Insiders have sold a total of 338,876 shares of company stock worth $7,674,362 over the last 90 days. Corporate insiders own 8.80% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in NEO. Los Angeles Capital Management & Equity Research Inc. raised its position in NeoGenomics by 29.0% in the 4th quarter. Los Angeles Capital Management & Equity Research Inc. now owns 64,134 shares of the medical research company’s stock worth $809,000 after purchasing an additional 14,405 shares during the period. Oberweis Asset Management Inc. purchased a new stake in NeoGenomics in the 4th quarter worth about $816,000. Convergence Investment Partners LLC purchased a new stake in NeoGenomics in the 4th quarter worth about $252,000. American Century Companies Inc. raised its position in NeoGenomics by 123.5% in the 4th quarter. American Century Companies Inc. now owns 687,775 shares of the medical research company’s stock worth $8,673,000 after purchasing an additional 380,041 shares during the period. Finally, Suntrust Banks Inc. raised its position in NeoGenomics by 2.6% in the 4th quarter. Suntrust Banks Inc. now owns 39,959 shares of the medical research company’s stock worth $504,000 after purchasing an additional 1,028 shares during the period. Hedge funds and other institutional investors own 84.23% of the company’s stock.

NEO opened at $23.28 on Friday. The firm’s 50-day moving average is $22.52. NeoGenomics has a 52 week low of $11.05 and a 52 week high of $24.84. The company has a market cap of $2.22 billion, a P/E ratio of 179.08 and a beta of 0.78. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.59 and a quick ratio of 1.46.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings data on Tuesday, April 30th. The medical research company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.02 by $0.03. NeoGenomics had a negative net margin of 0.14% and a positive return on equity of 3.07%. The business had revenue of $95.60 million during the quarter, compared to the consensus estimate of $89.71 million. During the same quarter in the prior year, the firm earned $0.04 EPS. The business’s revenue was up 50.8% on a year-over-year basis. As a group, analysts forecast that NeoGenomics will post 0.18 earnings per share for the current year.

About NeoGenomics

NeoGenomics, Inc, together with its subsidiaries, operates a network of cancer-focused genetic testing laboratories in the United States; and laboratories in Switzerland and Singapore. It operates in two segments, Clinical Services and Pharma Services. The company’s laboratories provide genetic and molecular testing services to hospitals, pathologists, oncologists, urologists, other clinicians and researchers, pharmaceutical firms, academic centers, and other clinical laboratories.

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Analyst Recommendations for NeoGenomics (NASDAQ:NEO)

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