NeoGenomics, Inc. (NASDAQ:NEO) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of NeoGenomics, Inc. (NASDAQ:NEO) have earned a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $19.60.

NEO has been the topic of several research analyst reports. Bank of America lowered their price target on NeoGenomics from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. The Goldman Sachs Group dropped their price target on NeoGenomics from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Piper Sandler cut their price target on NeoGenomics from $21.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Benchmark downgraded shares of NeoGenomics from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Needham & Company LLC cut their target price on shares of NeoGenomics from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th.

Hedge Funds Weigh In On NeoGenomics

A number of hedge funds and other institutional investors have recently made changes to their positions in NEO. Loomis Sayles & Co. L P raised its position in NeoGenomics by 48.4% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,791,792 shares of the medical research company’s stock worth $29,528,000 after purchasing an additional 584,502 shares in the last quarter. Norges Bank bought a new stake in shares of NeoGenomics in the 4th quarter valued at approximately $6,273,000. Jennison Associates LLC raised its holdings in shares of NeoGenomics by 18.7% in the 4th quarter. Jennison Associates LLC now owns 1,514,756 shares of the medical research company’s stock worth $24,963,000 after buying an additional 238,288 shares in the last quarter. Greenhouse Funds LLLP lifted its position in shares of NeoGenomics by 5.3% during the 4th quarter. Greenhouse Funds LLLP now owns 4,701,897 shares of the medical research company’s stock worth $77,487,000 after buying an additional 237,491 shares during the period. Finally, Segall Bryant & Hamill LLC boosted its stake in NeoGenomics by 11.6% in the 4th quarter. Segall Bryant & Hamill LLC now owns 2,113,822 shares of the medical research company’s stock valued at $34,836,000 after buying an additional 220,415 shares in the last quarter. 98.50% of the stock is owned by institutional investors.

NeoGenomics Stock Down 2.4 %

Shares of NeoGenomics stock opened at $8.90 on Friday. NeoGenomics has a 12-month low of $8.05 and a 12-month high of $19.12. The company has a quick ratio of 1.91, a current ratio of 1.98 and a debt-to-equity ratio of 0.38. The stock has a 50 day moving average price of $10.68 and a two-hundred day moving average price of $13.81. The stock has a market capitalization of $1.14 billion, a P/E ratio of -14.35 and a beta of 1.41.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Tuesday, February 18th. The medical research company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $172.00 million for the quarter, compared to the consensus estimate of $173.40 million. Equities analysts expect that NeoGenomics will post -0.2 earnings per share for the current year.

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.