NeoGenomics (NASDAQ:NEO) Price Target Raised to $19.00 at Bank of America

NeoGenomics (NASDAQ:NEO) had its target price raised by Bank of America from $18.00 to $19.00 in a report released on Friday morning,Benzinga reports. They currently have a neutral rating on the medical research company’s stock.

A number of other brokerages have also recently issued reports on NEO. Benchmark reissued a “buy” rating and set a $18.00 price objective on shares of NeoGenomics in a report on Tuesday, September 24th. Jefferies Financial Group initiated coverage on shares of NeoGenomics in a research report on Tuesday. They issued a “buy” rating and a $22.00 price objective for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $19.00 target price on shares of NeoGenomics in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.30.

NeoGenomics Trading Down 0.9 %

NASDAQ:NEO opened at $17.73 on Friday. NeoGenomics has a 52 week low of $12.77 and a 52 week high of $21.22. The firm has a 50-day moving average price of $15.31 and a two-hundred day moving average price of $15.11. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of -29.05 and a beta of 1.24. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.91 and a current ratio of 1.99.

NeoGenomics (NASDAQ:NEO) last released its earnings results on Tuesday, November 5th. The medical research company reported $0.05 earnings per share 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 firm had revenue of $167.80 million during the quarter, compared to the consensus estimate of $167.00 million. During the same period in the prior year, the firm earned ($0.06) EPS. The company’s revenue was up 10.5% compared to the same quarter last year. On average, equities analysts expect that NeoGenomics will post -0.16 earnings per share for the current fiscal year.

Insider Buying and Selling at NeoGenomics

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

Institutional Investors Weigh In On NeoGenomics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its holdings in NeoGenomics by 107.2% in the second quarter. Blue Trust Inc. now owns 2,331 shares of the medical research company’s stock valued at $32,000 after acquiring an additional 1,206 shares during the period. Quarry LP bought a new stake in NeoGenomics during the third quarter valued at approximately $40,000. Canada Pension Plan Investment Board purchased a new stake in NeoGenomics during the second quarter valued at approximately $57,000. KBC Group NV raised its position in NeoGenomics by 33.1% in the third quarter. KBC Group NV now owns 4,530 shares of the medical research company’s stock worth $67,000 after acquiring an additional 1,127 shares during the period. Finally, FMR LLC boosted its stake in shares of NeoGenomics by 7.6% during the 3rd quarter. FMR LLC now owns 13,255 shares of the medical research company’s stock worth $196,000 after acquiring an additional 931 shares during the last quarter. 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.