NeoGenomics’ (NEO) “Buy” Rating Reaffirmed at Needham & Company LLC

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

A number of other equities research analysts have also recently weighed in on the company. Benchmark restated a “buy” rating and issued a $18.00 price target on shares of NeoGenomics in a research note on Tuesday, September 24th. Stephens restated an “overweight” rating and set a $19.00 price objective on shares of NeoGenomics in a research report on Tuesday, July 30th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $20.25.

NeoGenomics Stock Down 0.3 %

NEO traded down $0.05 during trading on Wednesday, reaching $15.77. 1,133,212 shares of the stock were exchanged, compared to its average volume of 821,002. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.93 and a current ratio of 1.99. The stock’s 50 day moving average price is $14.68 and its two-hundred day moving average price is $14.75. NeoGenomics has a twelve month low of $12.77 and a twelve month high of $21.22. The stock has a market cap of $2.02 billion, a P/E ratio of -25.85 and a beta of 1.19.

NeoGenomics (NASDAQ:NEO) last issued its earnings results on Tuesday, November 5th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. The business had revenue of $167.80 million during the quarter, compared to the consensus estimate of $167.00 million. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. NeoGenomics’s revenue was up 10.5% on a year-over-year basis. During the same period last year, the business posted ($0.06) EPS. Equities analysts expect that NeoGenomics will post -0.21 EPS for the current year.

Hedge Funds Weigh In On NeoGenomics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bellevue Group AG bought a new stake in shares of NeoGenomics during the first quarter worth about $14,872,000. Kopp LeRoy C acquired a new position in shares of NeoGenomics in the first quarter worth approximately $14,062,000. Segall Bryant & Hamill LLC boosted its holdings in NeoGenomics by 67.0% in the third quarter. Segall Bryant & Hamill LLC now owns 1,893,407 shares of the medical research company’s stock valued at $27,928,000 after acquiring an additional 759,524 shares during the last quarter. First Light Asset Management LLC increased its position 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 purchasing an additional 480,396 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in NeoGenomics by 7.0% during 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 last quarter. 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.