NeoGenomics (NASDAQ:NEO) Stock Price Expected to Rise, Bank of America Analyst Says

NeoGenomics (NASDAQ:NEO) had its price target boosted by Bank of America from $18.00 to $19.00 in a research note published on Friday,Benzinga reports. The firm currently has a neutral rating on the medical research company’s stock.

NEO has been the subject of a number of other research reports. Needham & Company LLC restated a “buy” rating and issued a $19.00 price target on shares of NeoGenomics in a research report on Wednesday, November 6th. Benchmark restated a “buy” rating and issued a $18.00 price target on shares of NeoGenomics in a research report on Tuesday, September 24th. Finally, Jefferies Financial Group initiated coverage on NeoGenomics in a research report on Tuesday, December 10th. They issued a “buy” rating and a $22.00 price target for the company. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, NeoGenomics presently has an average rating of “Moderate Buy” and a consensus price target of $20.30.

NeoGenomics Stock Down 0.9 %

NeoGenomics stock opened at $17.73 on Friday. The stock has a market cap of $2.28 billion, a PE ratio of -29.07 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 has a one year low of $12.77 and a one year high of $21.22. The stock has a fifty day moving average of $15.39 and a 200 day moving average of $15.14.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Tuesday, November 5th. The medical research company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The company had revenue of $167.80 million during the quarter, compared to analysts’ expectations of $167.00 million. NeoGenomics had a negative return on equity of 2.11% and a negative net margin of 12.07%. NeoGenomics’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.06) earnings per share. As a group, sell-side analysts predict that NeoGenomics will post -0.16 EPS for the current year.

Insider Activity at NeoGenomics

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

Hedge Funds Weigh In On NeoGenomics

Several institutional investors have recently added to or reduced their stakes in NEO. Loomis Sayles & Co. L P purchased a new position in NeoGenomics during the 3rd quarter valued at approximately $17,807,000. Segall Bryant & Hamill LLC grew its holdings in NeoGenomics by 67.0% during 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 buying an additional 759,524 shares in the last quarter. First Light Asset Management LLC grew its holdings in NeoGenomics by 14.5% during the 2nd quarter. First Light Asset Management LLC now owns 3,782,561 shares of the medical research company’s stock valued at $52,464,000 after buying an additional 480,396 shares in the last quarter. Bellevue Group AG boosted its holdings 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 worth $23,786,000 after purchasing an additional 410,516 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of NeoGenomics by 7.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,324,624 shares of the medical research company’s stock worth $46,108,000 after purchasing an additional 217,687 shares during the period. 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.