NeoGenomics (NASDAQ:NEO) Rating Reiterated by SVB Leerink
NeoGenomics (NASDAQ:NEO)‘s stock had its “buy” rating reiterated by equities researchers at SVB Leerink in a report released on Wednesday, AnalystRatings.com reports. They currently have a $35.00 price target on the medical research company’s stock, up from their previous price target of $33.00. SVB Leerink’s price objective suggests a potential upside of 34.62% from the company’s current price. SVB Leerink also issued estimates for NeoGenomics’ Q3 2020 earnings at $0.02 EPS, Q4 2020 earnings at $0.04 EPS and Q3 2021 earnings at $0.10 EPS.
NEO has been the subject of several other research reports. First Analysis raised shares of NeoGenomics from an “outperform” rating to a “strong-buy” rating and set a $35.00 price target for the company in a report on Friday, February 28th. Craig Hallum began coverage on shares of NeoGenomics in a report on Monday, March 2nd. They issued a “buy” rating and a $38.00 price target for the company. Needham & Company LLC reissued a “buy” rating and issued a $33.00 price target on shares of NeoGenomics in a report on Wednesday. Stephens began coverage on shares of NeoGenomics in a report on Tuesday, April 21st. They issued an “overweight” rating and a $33.00 price target for the company. Finally, ValuEngine raised shares of NeoGenomics from a “hold” rating to a “buy” rating in a report on Thursday, April 2nd. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $32.25.
Shares of NeoGenomics stock traded down $1.34 on Wednesday, hitting $26.00. 2,233,582 shares of the company’s stock traded hands, compared to its average volume of 1,038,195. The firm’s 50-day moving average price is $26.78 and its two-hundred day moving average price is $27.47. The stock has a market capitalization of $2.88 billion, a PE ratio of 866.96 and a beta of 0.79. NeoGenomics has a one year low of $18.52 and a one year high of $34.97. 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 (NASDAQ:NEO) last issued its earnings results on Tuesday, April 28th. The medical research company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.04). The business had revenue of $106.03 million for the quarter, compared to the consensus estimate of $106.03 million. NeoGenomics had a net margin of 0.82% and a return on equity of 2.95%. The business’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.03) EPS. On average, analysts forecast that NeoGenomics will post -0.13 earnings per share for the current fiscal year.
In other NeoGenomics news, insider Robert J. Shovlin sold 98,093 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $30.86, for a total transaction of $3,027,149.98. Following the sale, the insider now directly owns 249,733 shares of the company’s stock, valued at approximately $7,706,760.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven C. Jones sold 297,300 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 195,234 shares in the company, valued at $5,616,882.18. The disclosure for this sale can be found here. 8.80% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of NEO. Oppenheimer Asset Management Inc. lifted its position in NeoGenomics by 503.9% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 936 shares of the medical research company’s stock worth $28,000 after buying an additional 781 shares in the last quarter. Archer Investment Corp bought a new stake in NeoGenomics during the 4th quarter worth about $33,000. Sowell Financial Services LLC lifted its position in NeoGenomics by 66.1% during the 4th quarter. Sowell Financial Services LLC now owns 1,742 shares of the medical research company’s stock worth $51,000 after buying an additional 693 shares in the last quarter. Global Retirement Partners LLC lifted its position in NeoGenomics by 27.1% during the 1st quarter. Global Retirement Partners LLC now owns 2,110 shares of the medical research company’s stock worth $58,000 after buying an additional 450 shares in the last quarter. Finally, Exchange Traded Concepts LLC bought a new stake in NeoGenomics during the 4th quarter worth about $96,000. 89.13% of the stock is currently owned by hedge funds and other institutional investors.
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.
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