NeoGenomics (NASDAQ:NEO) Now Covered by Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of NeoGenomics (NASDAQ:NEO) in a report issued on Tuesday, Marketbeat.com reports. The brokerage issued a buy rating and a $22.00 price target on the medical research company’s stock.

Other analysts have also recently issued reports about the stock. Needham & Company LLC restated a “buy” rating and set a $19.00 price target on shares of NeoGenomics in a research note on Wednesday, November 6th. Benchmark restated a “buy” rating and set a $18.00 target price on shares of NeoGenomics in a research report on Tuesday, September 24th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, NeoGenomics currently has a consensus rating of “Buy” and an average price target of $20.44.

NeoGenomics Stock Performance

NASDAQ:NEO opened at $18.43 on Tuesday. The company has a market capitalization of $2.37 billion, a P/E ratio of -30.21 and a beta of 1.24. The business has a fifty day simple moving average of $15.16 and a two-hundred day simple moving average of $15.06. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.99 and a quick ratio of 1.91. NeoGenomics has a 1 year low of $12.77 and a 1 year high of $21.22.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings data on Tuesday, November 5th. The medical research company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. The company had revenue of $167.80 million during the quarter, compared to analyst estimates of $167.00 million. NeoGenomics had a negative return on equity of 2.11% and a negative net margin of 12.07%. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.06) EPS. On average, analysts expect that NeoGenomics will post -0.17 earnings per share for the current year.

Insider Buying and Selling

In other news, General Counsel Alicia C. Olivo sold 5,175 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $15.36, for a total transaction of $79,488.00. Following the completion of the transaction, the general counsel now owns 37,129 shares of the company’s stock, valued at approximately $570,301.44. The trade was a 12.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NeoGenomics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. raised its position in shares of NeoGenomics by 2.0% during the 3rd quarter. Franklin Resources Inc. now owns 2,043,840 shares of the medical research company’s stock valued at $28,225,000 after buying an additional 39,740 shares in the last quarter. Geode Capital Management LLC increased its stake in NeoGenomics by 1.2% in the third quarter. Geode Capital Management LLC now owns 3,051,806 shares of the medical research company’s stock valued at $45,022,000 after acquiring an additional 36,136 shares during the last quarter. State Street Corp lifted its stake in NeoGenomics by 1.6% during the third quarter. State Street Corp now owns 4,958,582 shares of the medical research company’s stock worth $73,139,000 after purchasing an additional 80,449 shares during the last quarter. Quarry LP purchased a new position in shares of NeoGenomics in the 3rd quarter worth about $40,000. Finally, Paloma Partners Management Co purchased a new position in shares of NeoGenomics in the 3rd quarter worth about $255,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

About NeoGenomics

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.