Needham & Company LLC Reaffirms “Buy” Rating for NeoGenomics (NASDAQ:NEO)

Needham & Company LLC reiterated their buy rating on shares of NeoGenomics (NASDAQ:NEO) in a research note released on Friday,Benzinga reports. They currently have a $19.00 price target on the medical research company’s stock.

Several other analysts have also recently issued reports on NEO. Jefferies Financial Group assumed coverage on shares of NeoGenomics in a research note on Tuesday, December 10th. They set a “buy” rating and a $22.00 price objective for the company. Bank of America upped their price target on NeoGenomics from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Finally, Benchmark reaffirmed a “buy” rating and issued a $18.00 price objective on shares of NeoGenomics in a research note on Tuesday, September 24th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, NeoGenomics presently has a consensus rating of “Moderate Buy” and an average target price of $20.30.

NeoGenomics Price Performance

Shares of NASDAQ:NEO opened at $14.77 on Friday. The company has a market cap of $1.90 billion, a P/E ratio of -24.21 and a beta of 1.24. The business has a fifty day simple moving average of $16.82 and a 200-day simple moving average of $15.64. NeoGenomics has a 52 week low of $12.77 and a 52 week high of $19.11. The company has a quick ratio of 1.91, a current ratio of 1.99 and a debt-to-equity ratio of 0.37.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Tuesday, November 5th. The medical research company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. The company had revenue of $167.80 million during the quarter, compared to the consensus estimate of $167.00 million. During the same quarter in the prior year, the company posted ($0.06) EPS. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. Equities research analysts forecast that NeoGenomics will post -0.16 EPS for the current year.

Insiders Place Their Bets

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 5,175 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $15.36, for a total value of $79,488.00. Following the completion of the transaction, the general counsel now directly owns 37,129 shares of the company’s stock, valued at $570,301.44. This represents a 12.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Nordea Investment Management AB raised its position in shares of NeoGenomics by 2.8% in the 4th quarter. Nordea Investment Management AB now owns 77,534 shares of the medical research company’s stock valued at $1,301,000 after purchasing an additional 2,125 shares in the last quarter. Versant Capital Management Inc raised its holdings in NeoGenomics by 174.9% in the fourth quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 1,142 shares in the last quarter. Franklin Resources Inc. boosted its stake in 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 acquiring an additional 39,740 shares during the last quarter. Geode Capital Management LLC grew its holdings in NeoGenomics by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 3,051,806 shares of the medical research company’s stock worth $45,022,000 after acquiring an additional 36,136 shares in the last quarter. Finally, State Street Corp increased its position in shares of NeoGenomics by 1.6% in the 3rd 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. Institutional investors and hedge funds 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.