Craig Hallum Begins Coverage on NeoGenomics (NASDAQ:NEO)

Craig Hallum began coverage on shares of NeoGenomics (NASDAQ:NEO - Free Report) in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $26.00 price objective on the medical research company's stock.

A number of other brokerages have also weighed in on NEO. Piper Sandler lifted their target price on NeoGenomics from $18.00 to $20.00 and gave the company an overweight rating in a research report on Monday, February 26th. William Blair reaffirmed an outperform rating on shares of NeoGenomics in a research note on Wednesday, February 21st. Needham & Company LLC cut their target price on shares of NeoGenomics from $24.00 to $19.00 and set a buy rating on the stock in a research report on Tuesday. Finally, The Goldman Sachs Group boosted their price target on shares of NeoGenomics from $17.00 to $19.00 and gave the company a buy rating in a report on Thursday, February 22nd. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, NeoGenomics presently has an average rating of Moderate Buy and an average target price of $19.78.

NeoGenomics Trading Up 0.3 %

NEO traded up $0.04 during trading hours on Wednesday, reaching $13.96. 1,186,683 shares of the company's stock traded hands, compared to its average volume of 932,660. The firm has a 50-day moving average price of $14.99 and a 200 day moving average price of $15.96. The firm has a market capitalization of $1.78 billion, a PE ratio of -19.94 and a beta of 1.10. The company has a quick ratio of 5.95, a current ratio of 6.20 and a debt-to-equity ratio of 0.57. NeoGenomics has a 52-week low of $11.03 and a 52-week high of $21.22.

NeoGenomics (NASDAQ:NEO - Get Free Report) last released its earnings results on Tuesday, February 20th. The medical research company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.05. The business had revenue of $155.55 million during the quarter, compared to the consensus estimate of $152.90 million. NeoGenomics had a negative return on equity of 4.13% and a negative net margin of 14.87%. As a group, sell-side analysts predict that NeoGenomics will post -0.2 EPS for the current fiscal year.

Insider Activity

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 2,587 shares of the firm's stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $14.96, for a total value of $38,701.52. Following the completion of the sale, the general counsel now directly owns 34,866 shares in the company, valued at $521,595.36. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.30% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NEO. BluePath Capital Management LLC purchased a new stake in NeoGenomics during the 3rd quarter worth approximately $30,000. Burkett Financial Services LLC purchased a new stake in shares of NeoGenomics during the fourth quarter valued at $46,000. Quadrant Capital Group LLC increased its position in shares of NeoGenomics by 22.0% in the 4th quarter. Quadrant Capital Group LLC now owns 4,900 shares of the medical research company's stock valued at $79,000 after acquiring an additional 883 shares during the period. WINTON GROUP Ltd purchased a new position in NeoGenomics in the 3rd quarter worth $133,000. Finally, PNC Financial Services Group Inc. lifted its position in NeoGenomics by 27.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,434 shares of the medical research company's stock worth $136,000 after acquiring an additional 1,791 shares during the period. 98.50% of the stock is owned by institutional investors and hedge funds.

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.