Brokerages Set NeoGenomics, Inc. (NASDAQ:NEO) PT at $19.78

NeoGenomics, Inc. (NASDAQ:NEO) has been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $19.89.

NEO has been the subject of several research reports. Stephens reaffirmed an “overweight” rating and set a $19.00 price target on shares of NeoGenomics in a research report on Tuesday, July 30th. TD Cowen reduced their price target on shares of NeoGenomics from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Benchmark reaffirmed a “buy” rating and set a $18.00 price target on shares of NeoGenomics in a research report on Tuesday, July 30th. Craig Hallum initiated coverage on shares of NeoGenomics in a report on Wednesday, May 1st. They issued a “buy” rating and a $26.00 target price for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $19.00 target price on shares of NeoGenomics in a report on Tuesday, July 30th.

NeoGenomics Price Performance

Shares of NASDAQ:NEO opened at $17.17 on Friday. NeoGenomics has a fifty-two week low of $11.03 and a fifty-two week high of $21.22. The business has a 50-day simple moving average of $14.17 and a two-hundred day simple moving average of $14.73. The company has a debt-to-equity ratio of 0.37, a quick ratio of 7.22 and a current ratio of 2.01. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of -26.02 and a beta of 1.18.

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

Hedge Funds Weigh In On NeoGenomics

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in NeoGenomics by 0.3% during the first quarter. Vanguard Group Inc. now owns 14,211,019 shares of the medical research company’s stock worth $223,397,000 after buying an additional 41,354 shares during the period. Brown Advisory Inc. lifted its holdings in shares of NeoGenomics by 16.9% in the 4th quarter. Brown Advisory Inc. now owns 9,643,599 shares of the medical research company’s stock worth $156,033,000 after acquiring an additional 1,397,397 shares during the last quarter. First Light Asset Management LLC increased its position in shares of NeoGenomics by 29.6% during the fourth quarter. First Light Asset Management LLC now owns 3,926,756 shares of the medical research company’s stock worth $63,535,000 after acquiring an additional 897,843 shares during the period. Dimensional Fund Advisors LP increased its position in shares of NeoGenomics by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,006,523 shares of the medical research company’s stock worth $48,650,000 after acquiring an additional 18,603 shares during the period. Finally, Jennison Associates LLC increased its position in shares of NeoGenomics by 77.8% during the first quarter. Jennison Associates LLC now owns 1,051,627 shares of the medical research company’s stock worth $16,532,000 after acquiring an additional 460,071 shares during the period. 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.