NeoGenomics’ (NEO) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of NeoGenomics (NASDAQ:NEO) in a report issued on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a $19.00 target price on the medical research company’s stock.

Other equities research analysts have also issued reports about the company. Stephens restated an “overweight” rating and issued a $19.00 price objective on shares of NeoGenomics in a research note on Tuesday, July 30th. Benchmark reaffirmed a “buy” rating and issued a $18.00 price objective on shares of NeoGenomics in a research note on Tuesday, September 24th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $20.25.

NeoGenomics Stock Down 0.3 %

NeoGenomics stock opened at $15.77 on Wednesday. The stock has a market cap of $2.02 billion, a PE ratio of -25.85 and a beta of 1.19. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.93 and a current ratio of 1.99. The stock has a fifty day moving average of $14.68 and a 200 day moving average of $14.75. NeoGenomics has a one year low of $12.77 and a one year high of $21.22.

NeoGenomics (NASDAQ:NEO) last issued 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. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. The firm had revenue of $167.80 million for the quarter, compared to analysts’ expectations of $167.00 million. During the same quarter in the prior year, the business earned ($0.06) EPS. The business’s quarterly revenue was up 10.5% on a year-over-year basis. As a group, sell-side analysts predict that NeoGenomics will post -0.21 EPS for the current year.

Hedge Funds Weigh In On NeoGenomics

A number of hedge funds have recently made changes to their positions in the business. Blue Trust Inc. raised its stake in NeoGenomics by 107.2% during the 2nd quarter. Blue Trust Inc. now owns 2,331 shares of the medical research company’s stock valued at $32,000 after purchasing an additional 1,206 shares during the period. Canada Pension Plan Investment Board purchased a new stake in NeoGenomics during the 2nd quarter valued at approximately $57,000. KBC Group NV raised its position in shares of NeoGenomics by 33.1% during the third quarter. KBC Group NV now owns 4,530 shares of the medical research company’s stock valued at $67,000 after buying an additional 1,127 shares during the last quarter. Banque Cantonale Vaudoise lifted its holdings in shares of NeoGenomics by 10.2% in the second quarter. Banque Cantonale Vaudoise now owns 17,575 shares of the medical research company’s stock worth $244,000 after buying an additional 1,633 shares in the last quarter. Finally, Gabelli Funds LLC bought a new position in shares of NeoGenomics during the first quarter worth $283,000. 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.