Brokerages Set NeoGenomics, Inc. (NASDAQ:NEO) Target Price at $11.86

Shares of NeoGenomics, Inc. (NASDAQ:NEO) have been given a consensus recommendation of “Hold” by the fourteen analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $11.8571.

Several research firms have recently weighed in on NEO. UBS Group reaffirmed a “hold” rating on shares of NeoGenomics in a report on Wednesday, February 18th. Zacks Research downgraded NeoGenomics from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Piper Sandler raised their price target on NeoGenomics from $12.00 to $13.00 and gave the company an “overweight” rating in a report on Tuesday, February 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NeoGenomics in a research report on Monday, December 29th. Finally, Benchmark reissued a “hold” rating on shares of NeoGenomics in a research note on Wednesday, February 18th.

NeoGenomics Stock Down 2.7%

Shares of NASDAQ NEO opened at $7.96 on Friday. NeoGenomics has a 52-week low of $4.72 and a 52-week high of $13.74. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.94 and a current ratio of 4.26. The business has a fifty day moving average of $10.75 and a two-hundred day moving average of $10.51. The stock has a market cap of $1.03 billion, a PE ratio of -9.48 and a beta of 1.62.

NeoGenomics (NASDAQ:NEO) last posted its earnings results on Tuesday, February 17th. The medical research company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.02. NeoGenomics had a negative net margin of 14.85% and a negative return on equity of 3.10%. The business had revenue of $190.17 million for the quarter, compared to analyst estimates of $188.25 million. During the same quarter in the prior year, the firm earned $0.04 EPS. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, equities research analysts expect that NeoGenomics will post -0.2 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Warren Stone sold 22,128 shares of the company’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $12.50, for a total transaction of $276,600.00. Following the transaction, the chief operating officer owned 121,631 shares in the company, valued at $1,520,387.50. This represents a 15.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NeoGenomics

A number of institutional investors have recently modified their holdings of the stock. Aster Capital Management DIFC Ltd lifted its position in shares of NeoGenomics by 42.5% during the third quarter. Aster Capital Management DIFC Ltd now owns 3,341 shares of the medical research company’s stock worth $26,000 after purchasing an additional 997 shares in the last quarter. First Horizon Corp raised its position in NeoGenomics by 52.6% in the 4th quarter. First Horizon Corp now owns 2,509 shares of the medical research company’s stock worth $30,000 after purchasing an additional 865 shares during the last quarter. Headlands Technologies LLC bought a new position in NeoGenomics in the 2nd quarter worth approximately $32,000. Caitong International Asset Management Co. Ltd lifted its holdings in NeoGenomics by 110.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,968 shares of the medical research company’s stock worth $35,000 after buying an additional 1,556 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in NeoGenomics during the 4th quarter worth $39,000. 98.50% of the stock is owned by institutional investors.

NeoGenomics Company Profile

NeoGenomics, traded on the Nasdaq under the symbol NEO, is a leading provider of cancer-focused genetic and molecular testing services. Headquartered in Fort Myers, Florida, the company operates an integrated network of CAP-accredited and CLIA-certified laboratories across the United States, Europe and Asia. NeoGenomics delivers diagnostic insights that support oncologists, pathologists and healthcare institutions in the detection, prognosis and treatment of hematologic and solid tumor cancers.

The company’s core service offerings include flow cytometry, immunohistochemistry, fluorescence in situ hybridization (FISH), karyotyping and advanced molecular assays such as next-generation sequencing (NGS) panels and polymerase chain reaction (PCR) tests.