NeoGenomics (NASDAQ:NEO) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of NeoGenomics (NASDAQ:NEO) in a research report sent to investors on Wednesday, Benzinga reports. They currently have a $19.00 price target on the medical research company’s stock.

NEO has been the topic of a number of other research reports. Stephens restated an overweight rating and set a $19.00 target price on shares of NeoGenomics in a research note on Tuesday, July 30th. Benchmark restated a buy rating and issued a $18.00 price objective on shares of NeoGenomics in a research report on Tuesday, September 24th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, NeoGenomics currently has a consensus rating of Moderate Buy and an average target price of $19.89.

NeoGenomics Trading Down 1.0 %

Shares of NEO stock opened at $14.50 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.01 and a quick ratio of 1.93. The company has a market cap of $1.85 billion, a price-to-earnings ratio of -21.97 and a beta of 1.19. NeoGenomics has a 1 year low of $11.03 and a 1 year high of $21.22. The firm has a fifty day moving average price of $16.06 and a 200-day moving average price of $14.93.

NeoGenomics (NASDAQ:NEO) last issued 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 business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.09) earnings per share. As a group, equities analysts predict that NeoGenomics will post -0.22 earnings per share for the current year.

Hedge Funds Weigh In On NeoGenomics

Institutional investors have recently bought and sold shares of the business. Blue Trust Inc. lifted its position in 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 buying an additional 1,206 shares during the last quarter. Burkett Financial Services LLC purchased a new position in shares of NeoGenomics during the 4th quarter worth about $46,000. Canada Pension Plan Investment Board bought a new position in NeoGenomics during the 2nd quarter valued at about $57,000. PNC Financial Services Group Inc. raised its position in NeoGenomics by 27.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,434 shares of the medical research company’s stock worth $136,000 after purchasing an additional 1,791 shares during the period. Finally, Banque Cantonale Vaudoise lifted its stake in NeoGenomics by 10.2% in the second quarter. Banque Cantonale Vaudoise now owns 17,575 shares of the medical research company’s stock worth $244,000 after purchasing an additional 1,633 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

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.