NeoGenomics, Inc. (NASDAQ:NEO) Stock Now Rated "Moderate Buy" by Wall Street Analysts

Key Points

• NeoGenomics has a “Moderate Buy” consensus rating from 10 analysts: six buys, three holds and one sell. The average 12-month price target is $17.67.
• Institutional investors own 98.5% of the company, with several major funds increasing their stakes or initiating new positions.
• NeoGenomics exceeded quarterly expectations, reporting $0.05 in EPS versus $0.03 forecast and $201.66 million in revenue, up 11.2% year over year; however, analysts expect a full-year loss of $0.09 per share.

Shares of NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report) have been given a consensus rating of "Moderate Buy" by the ten ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $17.67.

Several research firms have recently commented on NEO. Zacks Research downgraded NeoGenomics from a "strong-buy" rating to a "hold" rating in a report on Monday, September 28th. Needham & Company LLC upped their price target on shares of NeoGenomics from $15.00 to $19.00 and gave the stock a "buy" rating in a research report on Wednesday, July 29th. Weiss Ratings upgraded shares of NeoGenomics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, July 14th. Benchmark increased their price target on shares of NeoGenomics from $11.00 to $16.00 and gave the company a "buy" rating in a research note on Friday, July 24th. Finally, Craig Hallum reissued a "buy" rating and issued a $19.00 price objective on shares of NeoGenomics in a research report on Wednesday, July 29th.

Hedge Funds Weigh In On NeoGenomics

Hedge funds and other institutional investors have recently bought and sold shares of the business. First Light Asset Management LLC raised its stake in NeoGenomics by 26.2% in the second quarter. First Light Asset Management LLC now owns 12,279,523 shares of the medical research company's stock valued at $179,158,000 after buying an additional 2,549,545 shares during the period. First Trust Advisors LP bought a new position in shares of NeoGenomics during the 1st quarter worth approximately $45,725,000. American Capital Management Inc. acquired a new position in shares of NeoGenomics during the 2nd quarter worth approximately $32,648,000. GW&K Investment Management LLC increased its holdings in shares of NeoGenomics by 7.5% during the 4th quarter. GW&K Investment Management LLC now owns 2,238,767 shares of the medical research company's stock worth $26,328,000 after acquiring an additional 155,882 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in NeoGenomics by 9.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,674,335 shares of the medical research company's stock valued at $19,842,000 after acquiring an additional 225,588 shares during the period. Institutional investors own 98.50% of the company's stock.

NeoGenomics Price Performance

NASDAQ:NEO opened at $19.13 on Tuesday. NeoGenomics has a 52-week low of $7.07 and a 52-week high of $20.05. The company has a market cap of $2.46 billion, a P/E ratio of -47.82 and a beta of 1.79. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.35 and a current ratio of 3.60. The stock's 50-day simple moving average is $17.39 and its 200 day simple moving average is $12.88.

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

About NeoGenomics

NeoGenomics, Inc NASDAQ: NEO is a specialized oncology diagnostics company that provides testing services to hospitals, physicians, pathologists, pharmaceutical companies and other healthcare organizations. Its services support the diagnosis, classification and monitoring of cancer, helping guide treatment decisions and drug development.

The company offers a broad range of pathology and laboratory services, including molecular testing, next-generation sequencing, fluorescence in situ hybridization, cytogenetics, flow cytometry, immunohistochemistry and digital pathology.

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