NeoGenomics, Inc. (NASDAQ:NEO) Receives $36.30 Consensus PT from Brokerages

Shares of NeoGenomics, Inc. (NASDAQ:NEO) have received a consensus rating of “Buy” from the fourteen brokerages that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $36.30.

A number of equities analysts recently commented on the company. Guggenheim assumed coverage on NeoGenomics in a report on Friday, August 28th. They set a “buy” rating and a $46.00 target price for the company. Bank of America began coverage on shares of NeoGenomics in a research report on Thursday, June 25th. They issued a “buy” rating and a $34.00 target price for the company. BidaskClub cut shares of NeoGenomics from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Zacks Investment Research lowered shares of NeoGenomics from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Finally, SVB Leerink upped their target price on NeoGenomics from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th.

In related news, VP Jennifer Balliet sold 13,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $39.25, for a total value of $510,250.00. Following the transaction, the vice president now owns 37,980 shares in the company, valued at approximately $1,490,715. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider William Bonello sold 22,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $38.61, for a total transaction of $849,420.00. Following the sale, the insider now directly owns 32,096 shares in the company, valued at $1,239,226.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 198,856 shares of company stock valued at $7,711,404. 6.50% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the company. Raymond James & Associates raised its holdings in NeoGenomics by 7.1% in the 1st quarter. Raymond James & Associates now owns 96,966 shares of the medical research company’s stock worth $2,677,000 after acquiring an additional 6,420 shares during the last quarter. Comerica Bank increased its holdings in shares of NeoGenomics by 3.2% in the 1st quarter. Comerica Bank now owns 101,333 shares of the medical research company’s stock worth $3,013,000 after purchasing an additional 3,100 shares in the last quarter. Valmark Advisers Inc. purchased a new position in shares of NeoGenomics in the first quarter worth $234,000. SG Americas Securities LLC raised its stake in shares of NeoGenomics by 70.7% in the first quarter. SG Americas Securities LLC now owns 20,448 shares of the medical research company’s stock worth $565,000 after purchasing an additional 8,470 shares during the last quarter. Finally, Aperio Group LLC lifted its holdings in shares of NeoGenomics by 11.8% during the first quarter. Aperio Group LLC now owns 45,719 shares of the medical research company’s stock valued at $1,262,000 after purchasing an additional 4,834 shares in the last quarter. Hedge funds and other institutional investors own 91.67% of the company’s stock.

Shares of NASDAQ:NEO opened at $35.80 on Wednesday. The company has a current ratio of 6.79, a quick ratio of 6.44 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average price of $38.39 and a 200-day moving average price of $31.05. The company has a market cap of $4.34 billion, a price-to-earnings ratio of -716.00 and a beta of 0.80. NeoGenomics has a 12 month low of $18.52 and a 12 month high of $41.03.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings results on Tuesday, July 28th. The medical research company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.06. NeoGenomics had a positive return on equity of 0.73% and a negative net margin of 1.33%. The company had revenue of $86.90 million for the quarter, compared to the consensus estimate of $86.55 million. During the same quarter in the previous year, the business earned $0.07 EPS. NeoGenomics’s revenue was down 14.6% compared to the same quarter last year. As a group, research analysts forecast that NeoGenomics will post -0.01 EPS for the current fiscal 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.

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