NeoGenomics, Inc. NEO) Receives Average Recommendation of “Buy” from Analysts

Renee Jackson 2020-05-25 21:05

NeoGenomics, Inc. (NASDAQ:NEO) has received a consensus rating of “Buy” from the twelve brokerages that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $30.63.

A number of brokerages have commented on NEO. Benchmark raised their price objective on NeoGenomics from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Craig Hallum initiated coverage on NeoGenomics in a research report on Monday, March 2nd. They set a “buy” rating and a $38.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $33.00 price objective on shares of NeoGenomics in a report on Wednesday, April 29th. First Analysis raised 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. Finally, CIBC lowered NeoGenomics to a “neutral” rating and decreased their target price for the stock from $11.00 to $9.00 in a research report on Friday, May 15th.

In other news, insider Robert J. Shovlin sold 98,093 shares of NeoGenomics stock in a transaction that occurred on 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 completion of the sale, the insider now owns 249,733 shares of the company’s stock, valued at $7,706,760.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven C. Jones sold 297,300 shares of NeoGenomics stock in a transaction that occurred on Monday, March 2nd. The shares were 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 of the company’s stock, valued at approximately $5,616,882.18. The disclosure for this sale can be found here. 6.50% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Kopp Family Office LLC acquired a new stake in shares of NeoGenomics in the 4th quarter worth about $141,705,000. Invesco Ltd. grew its stake in NeoGenomics by 68.2% in the first quarter. Invesco Ltd. now owns 3,861,808 shares of the medical research company’s stock valued at $106,624,000 after acquiring an additional 1,565,935 shares during the period. State Street Corp grew its stake in NeoGenomics by 8.5% in the first quarter. State Street Corp now owns 3,007,606 shares of the medical research company’s stock valued at $83,040,000 after acquiring an additional 236,659 shares during the period. Artisan Partners Limited Partnership grew its stake in NeoGenomics by 31.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,932,090 shares of the medical research company’s stock valued at $85,764,000 after acquiring an additional 705,037 shares during the period. Finally, Eagle Asset Management Inc. grew its stake in NeoGenomics by 0.8% in the first quarter. Eagle Asset Management Inc. now owns 2,506,782 shares of the medical research company’s stock valued at $69,212,000 after acquiring an additional 19,679 shares during the period. 88.93% of the stock is owned by hedge funds and other institutional investors.

Shares of NeoGenomics stock traded up $0.36 on Monday, reaching $28.18. 575,837 shares of the company were exchanged, compared to its average volume of 1,371,230. The company has a current ratio of 3.18, a quick ratio of 2.88 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average of $27.58 and a 200 day moving average of $28.17. NeoGenomics has a one year low of $18.52 and a one year high of $34.97. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 939.65 and a beta of 0.79.

NeoGenomics (NASDAQ:NEO) last released its earnings results on Tuesday, April 28th. The medical research company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.04). The company had revenue of $106.03 million for the quarter, compared to analyst estimates of $106.03 million. NeoGenomics had a return on equity of 2.94% and a net margin of 0.82%. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period last year, the company posted ($0.03) earnings per share. Analysts predict that NeoGenomics will post -0.12 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.