NeoGenomics (NASDAQ:NEO) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of NeoGenomics (NASDAQ:NEO) in a report published on Friday,Benzinga reports. Needham & Company LLC currently has a $19.00 target price on the medical research company’s stock.

Several other research analysts also recently issued reports on NEO. Jefferies Financial Group began coverage on shares of NeoGenomics in a research report on Tuesday, December 10th. They set a “buy” rating and a $22.00 price objective on the stock. Benchmark reaffirmed a “buy” rating and set a $18.00 price objective on shares of NeoGenomics in a research note on Tuesday, September 24th. Finally, Bank of America lifted their target price on NeoGenomics from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.30.

NeoGenomics Stock Performance

Shares of NEO stock opened at $14.77 on Friday. NeoGenomics has a 1 year low of $12.77 and a 1 year high of $19.11. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.91 and a current ratio of 1.99. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -24.21 and a beta of 1.24. The stock’s 50-day moving average is $16.82 and its two-hundred day moving average is $15.64.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings results on Tuesday, November 5th. The medical research company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.01 by $0.04. The company had revenue of $167.80 million for the quarter, compared to analyst estimates of $167.00 million. NeoGenomics had a negative return on equity of 2.11% and a negative net margin of 12.07%. The firm’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.06) earnings per share. Analysts predict that NeoGenomics will post -0.16 earnings per share for the current year.

Insider Buying and Selling at NeoGenomics

In related news, General Counsel Alicia C. Olivo sold 5,175 shares of NeoGenomics stock in a transaction on Friday, November 15th. The stock was sold at an average price of $15.36, for a total transaction of $79,488.00. Following the completion of the transaction, the general counsel now directly owns 37,129 shares of the company’s stock, valued at approximately $570,301.44. The trade was a 12.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NeoGenomics

Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp lifted its holdings in shares of NeoGenomics by 1.6% in the third quarter. State Street Corp now owns 4,958,582 shares of the medical research company’s stock valued at $73,139,000 after purchasing an additional 80,449 shares in the last quarter. First Light Asset Management LLC grew its holdings in NeoGenomics by 14.5% during the 2nd quarter. First Light Asset Management LLC now owns 3,782,561 shares of the medical research company’s stock valued at $52,464,000 after buying an additional 480,396 shares during the last quarter. Dimensional Fund Advisors LP increased its position in NeoGenomics by 7.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,324,624 shares of the medical research company’s stock worth $46,108,000 after buying an additional 217,687 shares in the last quarter. American Century Companies Inc. lifted its position in shares of NeoGenomics by 5.4% in the second quarter. American Century Companies Inc. now owns 3,261,756 shares of the medical research company’s stock valued at $45,241,000 after acquiring an additional 167,145 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of NeoGenomics by 1.2% during the third quarter. Geode Capital Management LLC now owns 3,051,806 shares of the medical research company’s stock valued at $45,022,000 after acquiring an additional 36,136 shares during the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

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.