NeoGenomics, Inc. (NASDAQ:NEO) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts are moderately bullish on NeoGenomics: Ten firms give the stock a consensus “Moderate Buy” rating, including six buys and one strong buy. The average 12-month price target is $17.67.
• NeoGenomics reported quarterly EPS of $0.05, exceeding the $0.03 consensus estimate, while revenue reached $201.66 million, up 11.2% year over year and above expectations.
• The stock opened at $17.61, with a market capitalization of approximately $2.26 billion; institutional investors own a substantial 98.5% of outstanding shares.

NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report) has earned an average rating of "Moderate Buy" from the ten ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $17.6667.

Several brokerages have recently issued reports on NEO. Needham & Company LLC raised their price target on NeoGenomics from $15.00 to $19.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. Wall Street Zen raised NeoGenomics from a "hold" rating to a "buy" rating in a research report on Saturday, June 27th. Craig Hallum restated a "buy" rating and set a $19.00 target price on shares of NeoGenomics in a research note on Wednesday, July 29th. Weiss Ratings raised NeoGenomics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, July 14th. Finally, TD Cowen reaffirmed a "buy" rating on shares of NeoGenomics in a research report on Wednesday, July 15th.

NeoGenomics Price Performance

Shares of NeoGenomics stock opened at $17.61 on Friday. The company has a current ratio of 3.60, a quick ratio of 3.35 and a debt-to-equity ratio of 0.48. The firm has a fifty day simple moving average of $15.86 and a 200-day simple moving average of $11.71. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of -44.02 and a beta of 1.75. NeoGenomics has a 1-year low of $7.07 and a 1-year high of $19.76.

NeoGenomics (NASDAQ:NEO - Get Free Report) last posted its earnings results on Tuesday, July 28th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.02. The business had revenue of $201.66 million for the quarter, compared to analyst estimates of $196.93 million. NeoGenomics had a negative net margin of 6.77% and a negative return on equity of 1.99%. NeoGenomics's revenue was up 11.2% compared to the same quarter last year. During the same period last year, the business posted $0.03 EPS. On average, sell-side analysts expect that NeoGenomics will post -0.09 earnings per share for the current year.

Hedge Funds Weigh In On NeoGenomics

A number of institutional investors and hedge funds have recently bought and sold shares of NEO. Royal Bank of Canada raised its position in shares of NeoGenomics by 51.2% during the first quarter. Royal Bank of Canada now owns 56,026 shares of the medical research company's stock valued at $532,000 after buying an additional 18,966 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of NeoGenomics in the first quarter valued at about $271,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in NeoGenomics by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 75,798 shares of the medical research company's stock worth $719,000 after buying an additional 3,254 shares in the last quarter. Intech Investment Management LLC grew its position in NeoGenomics by 19.7% during the first quarter. Intech Investment Management LLC now owns 151,806 shares of the medical research company's stock worth $1,441,000 after buying an additional 24,965 shares in the last quarter. Finally, Creative Planning increased its stake in NeoGenomics by 20.4% during the second quarter. Creative Planning now owns 16,735 shares of the medical research company's stock valued at $122,000 after acquiring an additional 2,840 shares during the period. Institutional investors own 98.50% of the company's stock.

About NeoGenomics

NeoGenomics, traded on the Nasdaq under the symbol NEO, is a leading provider of cancer-focused genetic and molecular testing services. Headquartered in Fort Myers, Florida, the company operates an integrated network of CAP-accredited and CLIA-certified laboratories across the United States, Europe and Asia. NeoGenomics delivers diagnostic insights that support oncologists, pathologists and healthcare institutions in the detection, prognosis and treatment of hematologic and solid tumor cancers.

The company's core service offerings include flow cytometry, immunohistochemistry, fluorescence in situ hybridization (FISH), karyotyping and advanced molecular assays such as next-generation sequencing (NGS) panels and polymerase chain reaction (PCR) tests.

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