NeoGenomics, Inc. (NASDAQ:NEO) Receives $13.50 Consensus Target Price from Analysts

Key Points

• NeoGenomics, Inc. has received an average consensus rating of "Hold" from twelve research firms, with eight analysts recommending a hold and four assigning a buy rating.
• The average 12-month price target for NeoGenomics stock is $13.50, with recent updates from analysts including a price target increase from $8.00 to $14.00 by Needham & Company.
• Institutional investors hold a significant majority of NeoGenomics stock, with 98.50% owned by hedge funds and other institutional investors, indicating strong institutional interest.

Shares of NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report) have earned an average recommendation of "Hold" from the thirteen research firms that are covering the company, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $13.2222.

A number of analysts have recently issued reports on the stock. Guggenheim started coverage on shares of NeoGenomics in a report on Thursday, May 15th. They set a "neutral" rating for the company. Stephens upped their price objective on NeoGenomics from $6.50 to $11.00 and gave the company an "overweight" rating in a report on Tuesday. Morgan Stanley set a $8.00 price objective on NeoGenomics and gave the company an "equal weight" rating in a report on Wednesday, July 30th. BTIG Research reiterated a "neutral" rating on shares of NeoGenomics in a report on Wednesday, July 30th. Finally, William Blair reiterated a "market perform" rating on shares of NeoGenomics in a report on Tuesday, July 29th.

NeoGenomics Trading Down 2.6%

NASDAQ:NEO traded down $0.22 during trading hours on Monday, hitting $7.98. The company had a trading volume of 1,423,465 shares, compared to its average volume of 2,017,765. NeoGenomics has a 1 year low of $4.72 and a 1 year high of $19.11. The company has a market cap of $1.03 billion, a P/E ratio of -9.85 and a beta of 1.62. The company has a 50-day moving average of $6.68 and a 200 day moving average of $8.10. The company has a current ratio of 3.92, a quick ratio of 3.58 and a debt-to-equity ratio of 0.40.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NEO. First Light Asset Management LLC lifted its holdings in NeoGenomics by 90.8% in the first quarter. First Light Asset Management LLC now owns 6,042,822 shares of the medical research company's stock valued at $57,346,000 after acquiring an additional 2,875,237 shares during the last quarter. Greenhouse Funds LLLP raised its position in NeoGenomics by 57.8% in the second quarter. Greenhouse Funds LLLP now owns 7,431,147 shares of the medical research company's stock valued at $54,322,000 after purchasing an additional 2,722,823 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in NeoGenomics in the second quarter valued at approximately $6,071,000. Samjo Management LLC purchased a new stake in NeoGenomics in the first quarter valued at approximately $5,970,000. Finally, Squarepoint Ops LLC raised its position in NeoGenomics by 246.8% in the second quarter. Squarepoint Ops LLC now owns 735,473 shares of the medical research company's stock valued at $5,376,000 after purchasing an additional 523,407 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

NeoGenomics Company Profile

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.