NeoGenomics, Inc. (NASDAQ:NEO) Receives $23.50 Average Price Target from Analysts

Gary James 2019-09-01 00:09

NeoGenomics, Inc. (NASDAQ:NEO) has been given a consensus recommendation of “Buy” by the eleven brokerages that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $23.50.

A number of equities research analysts have recently commented on NEO shares. ValuEngine downgraded NeoGenomics from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Raymond James increased their price objective on NeoGenomics from $23.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. BidaskClub upgraded NeoGenomics from a “hold” rating to a “buy” rating in a research report on Friday, July 19th. Zacks Investment Research downgraded NeoGenomics from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Finally, Benchmark set a $27.00 target price on shares of NeoGenomics and gave the company a “buy” rating in a research note on Wednesday, July 31st.

In other NeoGenomics news, Director Steven C. Jones sold 181,339 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $24.92, for a total transaction of $4,518,967.88. Following the completion of the sale, the director now directly owns 245,234 shares in the company, valued at $6,111,231.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.80% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in NeoGenomics by 150.5% in the first quarter. BlackRock Inc. now owns 13,825,064 shares of the medical research company’s stock worth $282,861,000 after purchasing an additional 8,305,417 shares in the last quarter. Vanguard Group Inc. raised its position in NeoGenomics by 41.6% in the second quarter. Vanguard Group Inc. now owns 8,173,714 shares of the medical research company’s stock worth $179,331,000 after purchasing an additional 2,401,227 shares in the last quarter. Marshall Wace LLP raised its position in NeoGenomics by 492.5% in the second quarter. Marshall Wace LLP now owns 1,358,313 shares of the medical research company’s stock worth $29,801,000 after purchasing an additional 1,129,043 shares in the last quarter. Nuveen Asset Management LLC acquired a new position in NeoGenomics in the second quarter worth about $19,966,000. Finally, Eagle Asset Management Inc. raised its position in NeoGenomics by 19.0% in the first quarter. Eagle Asset Management Inc. now owns 2,705,536 shares of the medical research company’s stock worth $55,355,000 after purchasing an additional 431,393 shares in the last quarter. 79.00% of the stock is owned by hedge funds and other institutional investors.

NEO traded up $0.19 during trading on Friday, reaching $24.98. The stock had a trading volume of 462,742 shares, compared to its average volume of 815,961. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 192.15 and a beta of 0.96. The company has a quick ratio of 4.52, a current ratio of 4.67 and a debt-to-equity ratio of 0.25. NeoGenomics has a 1-year low of $11.05 and a 1-year high of $26.89. The stock has a 50 day moving average of $24.42 and a two-hundred day moving average of $21.88.

NeoGenomics (NASDAQ:NEO) last released its earnings results on Tuesday, July 30th. The medical research company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. NeoGenomics had a return on equity of 4.97% and a net margin of 0.57%. The firm had revenue of $101.71 million during the quarter, compared to the consensus estimate of $97.32 million. During the same period in the prior year, the firm posted $0.05 earnings per share. The firm’s revenue for the quarter was up 50.1% compared to the same quarter last year. On average, research analysts forecast that NeoGenomics will post 0.18 EPS for the current fiscal year.

NeoGenomics Company Profile

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.