NeoGenomics, Inc. (NASDAQ:NEO) Given Average Recommendation of “Buy” by Analysts

NeoGenomics, Inc. (NASDAQ:NEO) has earned a consensus rating of “Buy” from the nine ratings firms that are currently covering the company, Marketbeat.com reports. Nine analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have covered the stock in the last year is $20.25.

Several research analysts have weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $19.00 price objective on shares of NeoGenomics in a research report on Wednesday. Benchmark restated a “buy” rating and set a $18.00 price target on shares of NeoGenomics in a research report on Tuesday, September 24th. Finally, Stephens reaffirmed an “overweight” rating and issued a $19.00 price objective on shares of NeoGenomics in a research report on Tuesday, July 30th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Blue Trust Inc. boosted its holdings 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 worth $32,000 after acquiring an additional 1,206 shares during the period. Canada Pension Plan Investment Board purchased a new position in NeoGenomics during the 2nd quarter valued at about $57,000. KBC Group NV increased 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 period. Banque Cantonale Vaudoise increased its position in shares of NeoGenomics by 10.2% during the second quarter. Banque Cantonale Vaudoise now owns 17,575 shares of the medical research company’s stock valued at $244,000 after buying an additional 1,633 shares during the period. Finally, Gabelli Funds LLC purchased a new stake in shares of NeoGenomics in the first quarter worth about $283,000. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

NeoGenomics Price Performance

NEO opened at $15.77 on Tuesday. NeoGenomics has a 1 year low of $12.77 and a 1 year high of $21.22. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.99 and a quick ratio of 1.93. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of -25.85 and a beta of 1.19. The firm’s fifty day moving average price is $14.68 and its two-hundred day moving average price is $14.75.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings results 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. The business had revenue of $167.80 million for the quarter, compared to analysts’ expectations of $167.00 million. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.06) earnings per share. As a group, analysts anticipate that NeoGenomics will post -0.21 earnings per share for the current fiscal year.

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.