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

Key Points

• Analysts maintain a “Moderate Buy” consensus on NeoGenomics, with seven buy ratings, one strong buy, two holds and one sell. The average 12-month price target is $16.71, compared with the stock’s recent opening price of $15.94.
• NeoGenomics exceeded quarterly expectations, reporting $0.05 in earnings per share versus the $0.03 consensus estimate and $201.66 million in revenue versus $196.93 million expected. Revenue increased 11.2% year over year, although the company remains unprofitable overall.
• Institutional investors own a substantial 98.5% of NeoGenomics’ outstanding shares, with several funds increasing their positions recently. A company director sold 5,307 shares under a pre-arranged Rule 10b5-1 trading plan.

NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report) has earned an average rating of "Moderate Buy" from the eleven research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $16.7143.

NEO has been the topic of several recent research reports. Weiss Ratings upgraded shares of NeoGenomics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, July 14th. TD Cowen restated a "buy" rating on shares of NeoGenomics in a research report on Wednesday, July 15th. Benchmark upped their target price on shares of NeoGenomics from $11.00 to $16.00 and gave the company a "buy" rating in a report on Friday, July 24th. Wall Street Zen upgraded shares of NeoGenomics from a "hold" rating to a "buy" rating in a research report on Saturday, June 27th. Finally, Needham & Company LLC lifted their price target on shares of NeoGenomics from $15.00 to $19.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th.

NeoGenomics Price Performance

Shares of NeoGenomics stock opened at $15.94 on Monday. NeoGenomics has a twelve month low of $5.94 and a twelve month high of $16.92. The company has a quick ratio of 3.35, a current ratio of 3.60 and a debt-to-equity ratio of 0.48. The company's 50 day moving average is $13.98 and its 200 day moving average is $10.95. The company has a market cap of $2.05 billion, a price-to-earnings ratio of -39.85 and a beta of 1.74.

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 for the quarter, beating analysts' consensus estimates of $0.03 by $0.02. The company had revenue of $201.66 million for the quarter, compared to the consensus estimate of $196.93 million. NeoGenomics had a negative return on equity of 1.99% and a negative net margin of 6.77%.NeoGenomics's revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 earnings per share. Research analysts anticipate that NeoGenomics will post -0.09 EPS for the current year.

Insider Buying and Selling

In related news, Director Lynn A. Tetrault sold 5,307 shares of NeoGenomics stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $11.29, for a total transaction of $59,916.03. Following the transaction, the director directly owned 91,422 shares in the company, valued at approximately $1,032,154.38. The trade was a 5.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.10% of the company's stock.

Institutional Trading of NeoGenomics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada lifted its position in shares of NeoGenomics by 51.2% during the 1st 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 in the last quarter. AQR Capital Management LLC purchased a new stake in NeoGenomics in the 1st quarter worth approximately $271,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in NeoGenomics by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 75,798 shares of the medical research company's stock worth $719,000 after acquiring an additional 3,254 shares in the last quarter. Intech Investment Management LLC raised its stake in NeoGenomics by 19.7% during the 1st quarter. Intech Investment Management LLC now owns 151,806 shares of the medical research company's stock worth $1,441,000 after acquiring an additional 24,965 shares during the period. Finally, Creative Planning raised its stake in NeoGenomics by 20.4% during the 2nd quarter. Creative Planning now owns 16,735 shares of the medical research company's stock worth $122,000 after acquiring an additional 2,840 shares during the period. Hedge funds and other 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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