NeoGenomics (NASDAQ:NEO) Receives Buy Rating from Benchmark

Benchmark reissued their buy rating on shares of NeoGenomics (NASDAQ:NEO) in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a $18.00 price target on the medical research company’s stock.

A number of other equities research analysts have also recently issued reports on NEO. BTIG Research decreased their target price on NeoGenomics from $23.00 to $21.00 and set a buy rating for the company in a research report on Thursday, May 2nd. Needham & Company LLC decreased their target price on NeoGenomics from $24.00 to $19.00 and set a buy rating for the company in a research report on Tuesday, April 30th. TD Cowen decreased their target price on NeoGenomics from $21.00 to $20.00 and set a buy rating for the company in a research report on Wednesday, May 1st. Finally, Craig Hallum assumed coverage on NeoGenomics in a research report on Wednesday, May 1st. They set a buy rating and a $26.00 target price for the company. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, NeoGenomics presently has a consensus rating of Moderate Buy and a consensus target price of $19.89.

NeoGenomics Trading Down 1.9 %

Shares of NASDAQ NEO opened at $17.17 on Tuesday. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of -26.02 and a beta of 1.18. The business has a 50 day simple moving average of $14.17 and a 200 day simple moving average of $14.74. NeoGenomics has a 52 week low of $11.03 and a 52 week high of $21.22. The company has a debt-to-equity ratio of 0.37, a quick ratio of 7.22 and a current ratio of 2.01.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings results on Monday, July 29th. The medical research company reported $0.03 EPS for the quarter. The business had revenue of $164.50 million during the quarter, compared to analysts’ expectations of $161.82 million. NeoGenomics had a negative return on equity of 2.72% and a negative net margin of 12.50%. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.09) EPS. On average, research analysts predict that NeoGenomics will post -0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Blue Trust Inc. raised its stake in shares of 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 purchasing an additional 1,206 shares in the last quarter. Burkett Financial Services LLC acquired a new position in shares of NeoGenomics in the fourth quarter valued at $46,000. Quadrant Capital Group LLC raised its stake in shares of NeoGenomics by 22.0% in the fourth quarter. Quadrant Capital Group LLC now owns 4,900 shares of the medical research company’s stock valued at $79,000 after purchasing an additional 883 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in NeoGenomics by 27.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,434 shares of the medical research company’s stock worth $136,000 after acquiring an additional 1,791 shares in the last quarter. Finally, Banque Cantonale Vaudoise raised its stake in NeoGenomics by 10.2% during the second quarter. Banque Cantonale Vaudoise now owns 17,575 shares of the medical research company’s stock worth $244,000 after acquiring an additional 1,633 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

NeoGenomics Company Profile

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.