NeoGenomics (NASDAQ:NEO) Rating Reiterated by Needham & Company LLC

Lisa Pomrenke 2020-05-03 18:05

NeoGenomics (NASDAQ:NEO)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a research note issued on Wednesday, AnalystRatings.com reports. They currently have a $33.00 price objective on the medical research company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 26.92% from the company’s previous close.

A number of other analysts have also recently commented on the company. First Analysis upgraded NeoGenomics from an “outperform” rating to a “strong-buy” rating and set a $35.00 price target for the company in a research report on Friday, February 28th. Benchmark upped their price target on NeoGenomics from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Raymond James upped their price target on NeoGenomics from $28.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, March 2nd. Stephens began coverage on NeoGenomics in a research report on Tuesday, April 21st. They issued an “overweight” rating and a $33.00 price target for the company. Finally, ValuEngine upgraded NeoGenomics from a “hold” rating to a “buy” rating in a research report on Thursday, April 2nd. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $32.25.

NeoGenomics stock traded down $1.34 during mid-day trading on Wednesday, reaching $26.00. 2,233,582 shares of the stock traded hands, compared to its average volume of 1,038,195. The stock has a market capitalization of $2.88 billion, a PE ratio of 866.96 and a beta of 0.79. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.55 and a quick ratio of 4.32. NeoGenomics has a 12-month low of $18.52 and a 12-month high of $34.97. The business’s 50-day moving average is $26.78 and its 200-day moving average is $27.47.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Tuesday, April 28th. The medical research company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). The firm had revenue of $106.03 million for the quarter, compared to analysts’ expectations of $106.03 million. NeoGenomics had a net margin of 0.82% and a return on equity of 2.95%. The firm’s revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.03) EPS. Equities analysts anticipate that NeoGenomics will post -0.13 EPS for the current fiscal year.

In related news, Director Steven C. Jones sold 297,300 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $28.77, for a total transaction of $8,553,321.00. Following the completion of the transaction, the director now directly owns 195,234 shares of the company’s stock, valued at $5,616,882.18. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Robert J. Shovlin sold 98,093 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $30.86, for a total value of $3,027,149.98. Following the transaction, the insider now directly owns 249,733 shares of the company’s stock, valued at $7,706,760.38. The disclosure for this sale can be found here. Company insiders own 8.80% of the company’s stock.

A number of institutional investors have recently made changes to their positions in NEO. Voya Investment Management LLC boosted its stake in NeoGenomics by 2.6% during the third quarter. Voya Investment Management LLC now owns 58,500 shares of the medical research company’s stock valued at $1,119,000 after buying an additional 1,459 shares during the last quarter. State Street Corp boosted its stake in NeoGenomics by 4.9% during the third quarter. State Street Corp now owns 2,701,490 shares of the medical research company’s stock valued at $51,652,000 after buying an additional 126,750 shares during the last quarter. Virtu Financial LLC boosted its stake in NeoGenomics by 22.8% during the third quarter. Virtu Financial LLC now owns 15,284 shares of the medical research company’s stock valued at $292,000 after buying an additional 2,839 shares during the last quarter. HWG Holdings LP bought a new stake in shares of NeoGenomics in the 4th quarter valued at approximately $404,000. Finally, Sciencast Management LP bought a new stake in shares of NeoGenomics in the 4th quarter valued at approximately $211,000. 89.13% of the stock is owned by institutional investors.

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.