NeoGenomics (NASDAQ:NEO) PT Raised to $17.00 at Morgan Stanley

NeoGenomics (NASDAQ:NEO) had its price objective raised by research analysts at Morgan Stanley from $16.00 to $17.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the medical research company’s stock. Morgan Stanley’s target price indicates a potential upside of 8.14% from the company’s current price.

NEO has been the subject of several other research reports. Benchmark decreased their price target on NeoGenomics from $20.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, August 9th. StockNews.com assumed coverage on NeoGenomics in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Stephens upgraded NeoGenomics from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $16.00 to $18.00 in a research note on Monday, August 21st. Needham & Company LLC restated a “buy” rating and issued a $21.00 price objective on shares of NeoGenomics in a research note on Tuesday. Finally, Piper Sandler reduced their price objective on NeoGenomics from $23.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday, October 16th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.82.

NeoGenomics Trading Down 0.7 %

Shares of NeoGenomics stock opened at $15.72 on Wednesday. The stock has a fifty day simple moving average of $13.48 and a 200 day simple moving average of $15.28. NeoGenomics has a 12-month low of $8.70 and a 12-month high of $20.54. The company has a market capitalization of $2.01 billion, a P/E ratio of -20.42 and a beta of 1.23. The company has a current ratio of 6.32, a quick ratio of 5.90 and a debt-to-equity ratio of 0.57.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings results on Tuesday, August 8th. The medical research company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.06. NeoGenomics had a negative return on equity of 4.95% and a negative net margin of 16.76%. The business had revenue of $146.92 million during the quarter, compared to the consensus estimate of $138.22 million. On average, sell-side analysts anticipate that NeoGenomics will post -0.43 earnings per share for the current fiscal year.

Institutional Trading of NeoGenomics

A number of institutional investors have recently added to or reduced their stakes in NEO. Citigroup Inc. lifted its holdings in NeoGenomics by 245.3% during the 1st quarter. Citigroup Inc. now owns 370,223 shares of the medical research company’s stock worth $4,498,000 after purchasing an additional 263,007 shares in the last quarter. AlphaCrest Capital Management LLC purchased a new stake in shares of NeoGenomics in the 1st quarter valued at about $201,000. MetLife Investment Management LLC raised its holdings in shares of NeoGenomics by 57.4% in the 1st quarter. MetLife Investment Management LLC now owns 61,509 shares of the medical research company’s stock valued at $747,000 after acquiring an additional 22,424 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of NeoGenomics by 6.9% in the 1st quarter. Rhumbline Advisers now owns 302,061 shares of the medical research company’s stock valued at $3,670,000 after acquiring an additional 19,588 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of NeoGenomics by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 106,143 shares of the medical research company’s stock valued at $1,290,000 after acquiring an additional 13,087 shares in the last quarter. Hedge funds and other institutional investors own 91.36% of the company’s stock.

NeoGenomics Company Profile

NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States, Europe, and Asia. It operates through, Clinical Services and Pharma Services segments. The company offers testing services to hospitals, reference labs, pathologists, oncologists, clinicians, pharmaceutical firms, and researchers.