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

Shares of NeoGenomics, Inc. (NASDAQ:NEO) have been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $19.89.

NEO has been the subject of several research reports. Needham & Company LLC restated a “buy” rating and set a $19.00 price objective on shares of NeoGenomics in a research report on Tuesday, July 30th. Stephens restated an “overweight” rating and issued a $19.00 price objective on shares of NeoGenomics in a research report on Tuesday, July 30th. Finally, Benchmark reiterated a “buy” rating and set a $18.00 price objective on shares of NeoGenomics in a research report on Tuesday, July 30th.

NeoGenomics Stock Performance

NEO opened at $16.28 on Monday. The stock’s 50 day simple moving average is $16.05 and its 200 day simple moving average is $14.95. The stock has a market cap of $2.08 billion, a P/E ratio of -24.67 and a beta of 1.19. NeoGenomics has a 1-year low of $11.03 and a 1-year high of $21.22. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.01 and a quick ratio of 1.93.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings data on Monday, July 29th. The medical research company reported $0.03 EPS for the quarter. The business had revenue of $164.50 million for the quarter, compared to analyst estimates of $161.82 million. NeoGenomics had a negative net margin of 12.50% and a negative return on equity of 2.72%. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.09) EPS. As a group, equities analysts anticipate that NeoGenomics will post -0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bellevue Group AG purchased a new stake in shares of NeoGenomics in the first quarter worth about $14,872,000. First Light Asset Management LLC lifted its position in shares of NeoGenomics by 29.6% during the fourth quarter. First Light Asset Management LLC now owns 3,926,756 shares of the medical research company’s stock worth $63,535,000 after purchasing an additional 897,843 shares during the last quarter. Norges Bank acquired a new position in NeoGenomics in the fourth quarter worth about $14,512,000. Kopp LeRoy C acquired a new stake in NeoGenomics during the first quarter valued at approximately $14,062,000. Finally, Jennison Associates LLC lifted its holdings in NeoGenomics by 77.8% during the 1st quarter. Jennison Associates LLC now owns 1,051,627 shares of the medical research company’s stock worth $16,532,000 after buying an additional 460,071 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

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.