Brokerages Set NeoGenomics, Inc. (NASDAQ:NEO) Target Price at $36.30
Shares of NeoGenomics, Inc. (NASDAQ:NEO) have been assigned a consensus recommendation of “Buy” from the fourteen ratings firms that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $36.30.
A number of equities research analysts recently weighed in on the company. Craig Hallum raised their price objective on NeoGenomics from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Benchmark raised their price target on shares of NeoGenomics from $35.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Zacks Investment Research lowered shares of NeoGenomics from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. BidaskClub lowered NeoGenomics from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Bank of America began coverage on shares of NeoGenomics in a report on Thursday, June 25th. They set a “buy” rating and a $34.00 price objective on the stock.
In related news, insider Robert J. Shovlin sold 81,356 shares of NeoGenomics stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $38.17, for a total transaction of $3,105,358.52. Following the completion of the transaction, the insider now directly owns 212,902 shares in the company, valued at $8,126,469.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jennifer Balliet sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $39.25, for a total value of $510,250.00. Following the completion of the transaction, the vice president now directly owns 37,980 shares of the company’s stock, valued at $1,490,715. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 198,856 shares of company stock valued at $7,711,404. Company insiders own 6.50% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Citizens Financial Group Inc RI grew its position in NeoGenomics by 11.8% during the second quarter. Citizens Financial Group Inc RI now owns 4,332 shares of the medical research company’s stock valued at $134,000 after buying an additional 457 shares during the period. Ameritas Investment Partners Inc. grew its position in shares of NeoGenomics by 6.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,152 shares of the medical research company’s stock valued at $284,000 after acquiring an additional 583 shares during the period. Private Advisor Group LLC grew its position in shares of NeoGenomics by 3.2% during the 1st quarter. Private Advisor Group LLC now owns 19,035 shares of the medical research company’s stock valued at $526,000 after acquiring an additional 589 shares during the period. ETRADE Capital Management LLC increased its stake in shares of NeoGenomics by 1.5% in the 2nd quarter. ETRADE Capital Management LLC now owns 43,648 shares of the medical research company’s stock valued at $1,353,000 after purchasing an additional 628 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in NeoGenomics by 5.1% in the 1st quarter. Fifth Third Bancorp now owns 14,127 shares of the medical research company’s stock worth $390,000 after purchasing an additional 683 shares during the period. Hedge funds and other institutional investors own 91.67% of the company’s stock.
Shares of NEO opened at $35.80 on Wednesday. The company has a 50 day moving average price of $38.39 and a 200-day moving average price of $31.05. NeoGenomics has a fifty-two week low of $18.52 and a fifty-two week high of $41.03. The stock has a market capitalization of $4.34 billion, a PE ratio of -716.00 and a beta of 0.80. The company has a debt-to-equity ratio of 0.32, a quick ratio of 6.44 and a current ratio of 6.79.
NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings data on Tuesday, July 28th. The medical research company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.06. The company had revenue of $86.90 million during the quarter, compared to the consensus estimate of $86.55 million. NeoGenomics had a negative net margin of 1.33% and a positive return on equity of 0.73%. NeoGenomics’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.07 earnings per share. Equities research analysts forecast that NeoGenomics will post -0.01 EPS for the current 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.
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