NeoGenomics, Inc. (NASDAQ:NEO) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of NeoGenomics, Inc. (NASDAQ:NEO) have earned an average rating of “Moderate Buy” from the ten brokerages that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $19.78.

Several equities analysts have recently issued reports on the company. TD Cowen cut their price target on NeoGenomics from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Needham & Company LLC dropped their price objective on NeoGenomics from $24.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. Craig Hallum started coverage on NeoGenomics in a report on Wednesday, May 1st. They issued a “buy” rating and a $26.00 price objective for the company. Benchmark reiterated a “buy” rating and issued a $18.00 price objective on shares of NeoGenomics in a report on Wednesday, May 1st. Finally, BTIG Research dropped their price objective on NeoGenomics from $23.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, May 2nd.

Hedge Funds Weigh In On NeoGenomics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of NeoGenomics by 0.3% during the first quarter. Vanguard Group Inc. now owns 14,211,019 shares of the medical research company’s stock worth $223,397,000 after buying an additional 41,354 shares during the period. Brown Advisory Inc. raised its position in NeoGenomics by 16.9% in the 4th quarter. Brown Advisory Inc. now owns 9,643,599 shares of the medical research company’s stock valued at $156,033,000 after buying an additional 1,397,397 shares during the last quarter. First Light Asset Management LLC raised its position in NeoGenomics by 29.6% in the 4th quarter. First Light Asset Management LLC now owns 3,926,756 shares of the medical research company’s stock valued at $63,535,000 after buying an additional 897,843 shares during the last quarter. Dimensional Fund Advisors LP raised its position in NeoGenomics by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,006,523 shares of the medical research company’s stock valued at $48,650,000 after buying an additional 18,603 shares during the last quarter. Finally, Schroder Investment Management Group raised its position in NeoGenomics by 26.7% in the 3rd quarter. Schroder Investment Management Group now owns 2,513,307 shares of the medical research company’s stock valued at $30,914,000 after buying an additional 529,178 shares during the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

NeoGenomics Trading Down 2.3 %

NeoGenomics stock opened at $13.40 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 7.48 and a quick ratio of 7.22. The business’s fifty day moving average is $14.03 and its two-hundred day moving average is $14.95. NeoGenomics has a 52 week low of $11.03 and a 52 week high of $21.22.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings results on Tuesday, April 30th. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.01). NeoGenomics had a negative net margin of 13.79% and a negative return on equity of 3.54%. The firm had revenue of $156.24 million for the quarter, compared to analyst estimates of $149.82 million. On average, equities analysts forecast that NeoGenomics will post -0.21 EPS for the current year.

NeoGenomics Company Profile

NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States and the United Kingdom. It operates through Clinical Services and Advanced Diagnostics segments. The company offers testing services to hospitals, academic centers, pathologists, oncologists, clinicians, pharmaceutical companies, and clinical laboratories.