NeoGenomics (NEO) Given Buy Rating at Needham & Company LLC
Needham & Company LLC reaffirmed their buy rating on shares of NeoGenomics (NASDAQ:NEO) in a research note released on Wednesday, Briefing.com Automated Import reports. Needham & Company LLC currently has a $24.00 price target on the medical research company’s stock, up from their previous price target of $22.00.
A number of other equities analysts also recently commented on the stock. BidaskClub raised shares of NeoGenomics from a buy rating to a strong-buy rating in a research note on Tuesday. Zacks Investment Research raised shares of NeoGenomics from a hold rating to a buy rating and set a $22.00 target price on the stock in a research note on Tuesday, March 5th. ValuEngine raised shares of NeoGenomics from a buy rating to a strong-buy rating in a research note on Thursday, January 10th. Finally, CIBC raised shares of NeoGenomics from a neutral rating to an outperform rating and cut their target price for the company from $18.00 to $15.00 in a research note on Tuesday, March 12th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $19.73.
NASDAQ:NEO traded up $0.99 during trading hours on Wednesday, reaching $22.49. 63,010 shares of the company were exchanged, compared to its average volume of 636,787. The company has a quick ratio of 1.56, a current ratio of 1.59 and a debt-to-equity ratio of 0.30. The company has a market cap of $2.05 billion, a P/E ratio of 172.15 and a beta of 0.91. NeoGenomics has a 52-week low of $9.57 and a 52-week high of $22.17.
NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Tuesday, April 30th. The medical research company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.03. The company had revenue of $95.60 million for the quarter, compared to the consensus estimate of $89.71 million. NeoGenomics had a negative net margin of 0.14% and a positive return on equity of 3.07%. NeoGenomics’s revenue was up 50.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.04 earnings per share. Research analysts forecast that NeoGenomics will post 0.18 earnings per share for the current fiscal year.
In related news, Director Raymond R. Hipp sold 18,889 shares of the firm’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $18.90, for a total transaction of $357,002.10. Following the completion of the sale, the director now directly owns 297,580 shares of the company’s stock, valued at approximately $5,624,262. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Jennifer Balliet sold 14,000 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $19.09, for a total transaction of $267,260.00. Following the sale, the vice president now directly owns 40,000 shares of the company’s stock, valued at $763,600. The disclosure for this sale can be found here. In the last three months, insiders sold 263,524 shares of company stock worth $5,019,496. Insiders own 12.20% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Howland Capital Management LLC grew its holdings in NeoGenomics by 2.9% during the 4th quarter. Howland Capital Management LLC now owns 31,337 shares of the medical research company’s stock valued at $395,000 after purchasing an additional 888 shares in the last quarter. Marshall Wace North America L.P. grew its holdings in NeoGenomics by 0.4% during the 3rd quarter. Marshall Wace North America L.P. now owns 220,059 shares of the medical research company’s stock worth $3,378,000 after acquiring an additional 934 shares in the last quarter. Legal & General Group Plc grew its holdings in NeoGenomics by 10.0% during the 3rd quarter. Legal & General Group Plc now owns 10,559 shares of the medical research company’s stock worth $162,000 after acquiring an additional 963 shares in the last quarter. Ruggie Capital Group grew its holdings in NeoGenomics by 74.1% during the 4th quarter. Ruggie Capital Group now owns 2,350 shares of the medical research company’s stock worth $30,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Suntrust Banks Inc. grew its holdings in NeoGenomics by 2.6% during the 4th quarter. Suntrust Banks Inc. now owns 39,959 shares of the medical research company’s stock worth $504,000 after acquiring an additional 1,028 shares in the last quarter. 76.22% of the stock is owned by institutional investors and hedge funds.
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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