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

NeoGenomics, Inc. (NASDAQ:NEO) has been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $20.30.

Several research firms have recently issued reports on NEO. Benchmark lowered shares of NeoGenomics from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Jefferies Financial Group began coverage on shares of NeoGenomics in a research note on Tuesday, December 10th. They issued a “buy” rating and a $22.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 target price on shares of NeoGenomics in a research note on Friday, January 10th. Finally, Bank of America upped their target price on shares of NeoGenomics from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th.

NeoGenomics Stock Performance

Shares of NEO stock opened at $14.21 on Friday. The firm has a market capitalization of $1.82 billion, a PE ratio of -23.29 and a beta of 1.24. The firm has a fifty day simple moving average of $16.68 and a two-hundred day simple moving average of $15.67. The company has a current ratio of 1.99, a quick ratio of 1.91 and a debt-to-equity ratio of 0.37. NeoGenomics has a 12 month low of $12.13 and a 12 month high of $19.11.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings results 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. The business had revenue of $167.80 million during the quarter, compared to analyst estimates of $167.00 million. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. NeoGenomics’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.06) EPS. Analysts forecast that NeoGenomics will post -0.16 EPS for the current fiscal year.

Insider Buying and Selling

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 transaction of $79,488.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On NeoGenomics

Several institutional investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management UK Ltd. lifted its holdings in NeoGenomics by 16.7% during the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 56,000 shares of the medical research company’s stock valued at $923,000 after purchasing an additional 8,000 shares during the last quarter. Moody National Bank Trust Division raised its stake in NeoGenomics by 20.2% in the fourth quarter. Moody National Bank Trust Division now owns 73,226 shares of the medical research company’s stock valued at $1,207,000 after purchasing an additional 12,314 shares in the last quarter. Nordea Investment Management AB raised its stake in NeoGenomics by 2.8% in the fourth 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 stake 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 purchasing an additional 1,142 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of NeoGenomics by 2.0% during the third quarter. Franklin Resources Inc. now owns 2,043,840 shares of the medical research company’s stock worth $28,225,000 after acquiring an additional 39,740 shares in the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

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.