NeoGenomics, Inc. (NEO) Receives $19.33 Average Price Target from Brokerages

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Shares of NeoGenomics, Inc. (NASDAQ:NEO) have received an average recommendation of “Buy” from the fourteen research firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $19.33.

NEO has been the topic of a number of recent research reports. Zacks Investment Research cut shares of NeoGenomics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Craig Hallum upped their price target on shares of NeoGenomics from $17.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, October 31st. BidaskClub upgraded shares of NeoGenomics from a “sell” rating to a “hold” rating in a research note on Thursday. First Analysis set a $16.00 price target on shares of NeoGenomics and gave the company a “buy” rating in a research note on Tuesday, September 18th. Finally, ValuEngine lowered shares of NeoGenomics from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 6th.

In related news, Director Kevin C. Johnson purchased 26,000 shares of the firm’s stock in a transaction dated Friday, December 21st. The shares were purchased at an average price of $11.60 per share, with a total value of $301,600.00. Following the acquisition, the director now directly owns 103,866 shares of the company’s stock, valued at $1,204,845.60. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Jennifer Balliet sold 68,333 shares of the stock in a transaction on Monday, November 12th. The stock was sold at an average price of $16.89, for a total transaction of $1,154,144.37. Following the completion of the transaction, the vice president now directly owns 55,000 shares in the company, valued at approximately $928,950. The disclosure for this sale can be found here. Insiders have sold a total of 15,829,788 shares of company stock worth $213,793,738 in the last ninety days. 12.20% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. Legal & General Group Plc increased its holdings in shares of NeoGenomics by 10.0% in the 3rd quarter. Legal & General Group Plc now owns 10,559 shares of the medical research company’s stock worth $162,000 after buying an additional 963 shares during the last quarter. Vanguard Group Inc grew its holdings in shares of NeoGenomics by 24.0% during the 3rd quarter. Vanguard Group Inc now owns 3,839,641 shares of the medical research company’s stock valued at $58,939,000 after purchasing an additional 743,245 shares during the last quarter. Federated Investors Inc. PA grew its holdings in shares of NeoGenomics by 36.0% during the 3rd quarter. Federated Investors Inc. PA now owns 841,883 shares of the medical research company’s stock valued at $12,923,000 after purchasing an additional 222,983 shares during the last quarter. Marshall Wace North America L.P. grew its holdings in shares of NeoGenomics by 0.4% during the 3rd quarter. Marshall Wace North America L.P. now owns 220,059 shares of the medical research company’s stock valued at $3,378,000 after purchasing an additional 934 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of NeoGenomics by 24.0% during the 3rd quarter. Vanguard Group Inc. now owns 3,839,641 shares of the medical research company’s stock valued at $58,939,000 after purchasing an additional 743,245 shares during the last quarter. 83.22% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NEO stock opened at $15.36 on Friday. The company has a market cap of $1.40 billion, a P/E ratio of 256.00 and a beta of 0.43. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.98 and a current ratio of 4.13. NeoGenomics has a 12 month low of $7.08 and a 12 month high of $19.04.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings results on Tuesday, October 30th. The medical research company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.03. The company had revenue of $69.10 million for the quarter, compared to analysts’ expectations of $66.13 million. NeoGenomics had a net margin of 1.70% and a return on equity of 2.63%. NeoGenomics’s revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.01 EPS. As a group, research analysts forecast that NeoGenomics will post 0.11 EPS for the current year.

NeoGenomics Company Profile

NeoGenomics, Inc, together with its subsidiaries, operates a network of cancer-focused genetic testing laboratories in the United States. It operates through Clinical Services and Pharma Services segments. The company laboratories provide genetic and molecular testing services to hospitals, pathologists, oncologists, urologists, other clinicians and researchers, pharmaceutical firms, and other clinical laboratories.

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Analyst Recommendations for NeoGenomics (NASDAQ:NEO)

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