NeoGenomics, Inc. (NASDAQ:NEO) Receives Average Rating of “Buy” from Analysts

Nicole Kennedy 2019-09-01 00:09

Shares of NeoGenomics, Inc. (NASDAQ:NEO) have been assigned a consensus recommendation of “Buy” from the eleven research firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $23.50.

NEO has been the topic of several recent analyst reports. Needham & Company LLC set a $27.00 price objective on shares of NeoGenomics and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Zacks Investment Research lowered shares of NeoGenomics from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Leerink Swann set a $30.00 price objective on shares of NeoGenomics and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Raymond James lifted their target price on shares of NeoGenomics from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, BidaskClub raised shares of NeoGenomics from a “hold” rating to a “buy” rating in a report on Friday, July 19th.

In other NeoGenomics news, Director Steven C. Jones sold 181,339 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $24.92, for a total value of $4,518,967.88. Following the completion of the sale, the director now owns 245,234 shares of the company’s stock, valued at approximately $6,111,231.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.80% of the company’s stock.

Institutional investors have recently modified their holdings of the company. NEXT Financial Group Inc increased its position in NeoGenomics by 200.0% during the 2nd quarter. NEXT Financial Group Inc now owns 2,700 shares of the medical research company’s stock worth $59,000 after purchasing an additional 1,800 shares in the last quarter. Captrust Financial Advisors acquired a new position in NeoGenomics during the 2nd quarter worth approximately $66,000. Winslow Evans & Crocker Inc. acquired a new position in NeoGenomics during the 2nd quarter worth approximately $92,000. Oregon Public Employees Retirement Fund acquired a new position in NeoGenomics during the 1st quarter worth approximately $132,000. Finally, Mark Sheptoff Financial Planning LLC acquired a new position in NeoGenomics in the 1st quarter valued at approximately $141,000. 79.00% of the stock is owned by institutional investors.

NEO stock traded up $0.19 during midday trading on Friday, hitting $24.98. The company’s stock had a trading volume of 462,742 shares, compared to its average volume of 815,961. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.67 and a quick ratio of 4.52. NeoGenomics has a twelve month low of $11.05 and a twelve month high of $26.89. The company’s fifty day moving average price is $24.42 and its 200 day moving average price is $21.88. The stock has a market capitalization of $2.54 billion, a P/E ratio of 192.15 and a beta of 0.96.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings results on Tuesday, July 30th. The medical research company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.02. The firm had revenue of $101.71 million for the quarter, compared to analyst estimates of $97.32 million. NeoGenomics had a net margin of 0.57% and a return on equity of 4.97%. The company’s revenue was up 50.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.05 EPS. Equities analysts expect 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.