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

NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report) has been given a consensus rating of "Moderate Buy" by the ten analysts that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $19.30.

NEO has been the topic of a number of research analyst reports. The Goldman Sachs Group cut their price target on shares of NeoGenomics from $17.00 to $15.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Benchmark downgraded shares of NeoGenomics from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Bank of America cut their price target on shares of NeoGenomics from $19.00 to $16.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Needham & Company LLC cut their price target on shares of NeoGenomics from $19.00 to $18.00 and set a "buy" rating on the stock in a report on Wednesday, February 19th. Finally, Piper Sandler lowered their price objective on NeoGenomics from $21.00 to $18.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th.

NeoGenomics Stock Performance

NASDAQ NEO opened at $9.97 on Tuesday. The company has a fifty day simple moving average of $9.74 and a 200 day simple moving average of $13.45. NeoGenomics has a 12-month low of $8.05 and a 12-month high of $19.12. The company has a current ratio of 1.98, a quick ratio of 1.91 and a debt-to-equity ratio of 0.38. The company has a market cap of $1.28 billion, a P/E ratio of -16.08 and a beta of 1.41.

NeoGenomics (NASDAQ:NEO - Get Free Report) 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 analysts' consensus estimates of $0.03 by ($0.05). The firm had revenue of $172.00 million for the quarter, compared to analysts' expectations of $173.40 million. NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. Sell-side analysts predict that NeoGenomics will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NeoGenomics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nordea Investment Management AB increased its position in shares of NeoGenomics by 2.8% during the fourth quarter. Nordea Investment Management AB now owns 77,534 shares of the medical research company's stock valued at $1,301,000 after buying an additional 2,125 shares during the period. Swiss National Bank increased its position in shares of NeoGenomics by 1.0% in the fourth quarter. Swiss National Bank now owns 252,100 shares of the medical research company's stock worth $4,155,000 after purchasing an additional 2,600 shares during the last quarter. Jennison Associates LLC raised its stake in NeoGenomics by 18.7% in the fourth quarter. Jennison Associates LLC now owns 1,514,756 shares of the medical research company's stock valued at $24,963,000 after purchasing an additional 238,288 shares in the last quarter. Rhumbline Advisers lifted its position in NeoGenomics by 2.4% during the fourth quarter. Rhumbline Advisers now owns 389,003 shares of the medical research company's stock valued at $6,411,000 after purchasing an additional 9,098 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in NeoGenomics by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,161,352 shares of the medical research company's stock worth $19,139,000 after buying an additional 26,701 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors.

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.

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