NeoGenomics (NASDAQ:NEO) Receives Buy Rating from Needham & Company LLC

NeoGenomics (NASDAQ:NEO)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research report issued on Wednesday,Benzinga reports. They presently have a $19.00 target price on the medical research company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 20.10% from the stock’s previous close.

A number of other brokerages have also recently weighed in on NEO. Stephens reiterated an “overweight” rating and issued a $19.00 target price on shares of NeoGenomics in a report on Tuesday, July 30th. Benchmark restated a “buy” rating and set a $18.00 target price on shares of NeoGenomics in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.89.

NeoGenomics Stock Up 2.3 %

NEO stock opened at $15.82 on Wednesday. The company has a 50 day moving average price of $14.69 and a two-hundred day moving average price of $14.73. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.93 and a current ratio of 2.01. The stock has a market capitalization of $2.03 billion, a P/E ratio of -25.52 and a beta of 1.19. NeoGenomics has a one year low of $12.77 and a one year high of $21.22.

NeoGenomics (NASDAQ:NEO) last released its earnings results on Tuesday, November 5th. The medical research company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. The firm had revenue of $167.80 million during the quarter, compared to analyst estimates of $167.00 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 10.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.06) earnings per share. As a group, sell-side analysts expect that NeoGenomics will post -0.21 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NEO. Blue Trust Inc. raised its stake in NeoGenomics by 107.2% during the second quarter. Blue Trust Inc. now owns 2,331 shares of the medical research company’s stock valued at $32,000 after buying an additional 1,206 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in NeoGenomics during the second quarter worth $57,000. KBC Group NV boosted its holdings in NeoGenomics by 33.1% in the third quarter. KBC Group NV now owns 4,530 shares of the medical research company’s stock worth $67,000 after purchasing an additional 1,127 shares during the period. Banque Cantonale Vaudoise increased its stake in 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 purchasing an additional 1,633 shares during the last quarter. Finally, Gabelli Funds LLC bought a new position in shares of NeoGenomics in the 1st quarter worth about $283,000. 98.50% of the stock is owned by institutional investors and hedge funds.

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.