NeoGenomics, Inc. (NASDAQ:NEO) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of NeoGenomics, Inc. (NASDAQ:NEO) have been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $19.60.

NEO has been the subject of several recent analyst reports. Benchmark cut NeoGenomics from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Jefferies Financial Group initiated coverage on NeoGenomics in a research report on Tuesday, December 10th. They set a “buy” rating and a $22.00 target price for the company. Bank of America reduced their target price on NeoGenomics from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Needham & Company LLC reduced their target price on NeoGenomics from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Finally, Piper Sandler dropped their price target on NeoGenomics from $21.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th.

Institutional Investors Weigh In On NeoGenomics

A number of hedge funds and other institutional investors have recently modified their holdings of NEO. Loomis Sayles & Co. L P bought a new stake in shares of NeoGenomics in the 3rd quarter valued at about $17,807,000. Segall Bryant & Hamill LLC lifted its stake in shares of NeoGenomics by 67.0% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,893,407 shares of the medical research company’s stock valued at $27,928,000 after acquiring an additional 759,524 shares during the last quarter. Bellevue Group AG lifted its stake in shares of NeoGenomics by 34.2% in the 3rd quarter. Bellevue Group AG now owns 1,612,612 shares of the medical research company’s stock valued at $23,786,000 after acquiring an additional 410,516 shares during the last quarter. Norges Bank bought a new stake in shares of NeoGenomics in the 4th quarter valued at about $6,273,000. Finally, Jennison Associates LLC lifted its stake in shares of NeoGenomics by 18.7% in the 4th quarter. Jennison Associates LLC now owns 1,514,756 shares of the medical research company’s stock valued at $24,963,000 after acquiring an additional 238,288 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

NeoGenomics Price Performance

NeoGenomics stock opened at $9.82 on Monday. NeoGenomics has a one year low of $8.98 and a one year high of $19.12. The business has a fifty day moving average price of $13.11 and a 200-day moving average price of $14.78. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.98 and a quick ratio of 1.91. The firm has a market capitalization of $1.26 billion, a P/E ratio of -15.84 and a beta of 1.28.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings data on Tuesday, February 18th. The medical research company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. The business had revenue of $172.00 million during the quarter, compared to analysts’ expectations of $173.40 million. As a group, equities research analysts forecast that NeoGenomics will post -0.2 EPS for the current year.

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.