Analysts Set NeoGenomics, Inc. (NASDAQ:NEO) Target Price at $19.60

NeoGenomics, Inc. (NASDAQ:NEO) has received an average recommendation of “Moderate Buy” from the ten brokerages that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $19.60.

A number of research analysts have recently issued reports on the company. Benchmark cut NeoGenomics from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. The Goldman Sachs Group decreased their price target on NeoGenomics from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Piper Sandler cut their target price on shares of NeoGenomics from $21.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Jefferies Financial Group started coverage on shares of NeoGenomics in a research report on Tuesday, December 10th. They set a “buy” rating and a $22.00 price target for the company. Finally, Bank of America decreased their price objective on shares of NeoGenomics from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th.

Hedge Funds Weigh In On NeoGenomics

A number of institutional investors have recently added to or reduced their stakes in NEO. Charles Schwab Investment Management Inc. lifted its position in NeoGenomics by 5.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,134,651 shares of the medical research company’s stock valued at $16,736,000 after acquiring an additional 57,677 shares during the period. FMR LLC lifted its holdings in shares of NeoGenomics by 7.6% during the third quarter. FMR LLC now owns 13,255 shares of the medical research company’s stock valued at $196,000 after purchasing an additional 931 shares during the last quarter. BNP Paribas Financial Markets increased its position in NeoGenomics by 110.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 72,963 shares of the medical research company’s stock valued at $1,076,000 after buying an additional 38,238 shares in the last quarter. Verition Fund Management LLC purchased a new position in NeoGenomics during the third quarter valued at $229,000. Finally, Paloma Partners Management Co bought a new stake in NeoGenomics in the third quarter worth $255,000. Institutional investors own 98.50% of the company’s stock.

NeoGenomics Price Performance

Shares of NeoGenomics stock opened at $8.78 on Friday. The firm has a market capitalization of $1.13 billion, a PE ratio of -14.16 and a beta of 1.41. The company has a current ratio of 1.98, a quick ratio of 1.91 and a debt-to-equity ratio of 0.38. NeoGenomics has a 12 month low of $8.27 and a 12 month high of $19.12. The business’s 50-day moving average price is $11.39 and its 200-day moving average price is $14.09.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings data on Tuesday, February 18th. The medical research company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. The business had revenue of $172.00 million during the quarter, compared to the consensus estimate of $173.40 million. Sell-side analysts forecast that NeoGenomics will post -0.2 EPS for the current fiscal year.

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.