NeoGenomics (NASDAQ:NEO) Price Target Raised to $16.00 at Benchmark

NeoGenomics (NASDAQ:NEO) had its price objective raised by Benchmark from $11.00 to $16.00 in a research report report published on Friday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the medical research company’s stock.

A number of other analysts also recently issued reports on NEO. Leerink Partners upgraded shares of NeoGenomics from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $12.00 to $25.00 in a report on Wednesday, April 29th. TD Cowen reiterated a “buy” rating on shares of NeoGenomics in a research report on Wednesday, July 15th. Wall Street Zen raised NeoGenomics from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Finally, Weiss Ratings raised NeoGenomics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, NeoGenomics presently has an average rating of “Hold” and a consensus target price of $14.57.

NeoGenomics Stock Down 2.5%

NEO stock opened at $13.89 on Friday. The company has a current ratio of 4.42, a quick ratio of 4.06 and a debt-to-equity ratio of 0.41. The firm has a 50-day moving average of $12.19 and a two-hundred day moving average of $10.65. The company has a market cap of $1.81 billion, a price-to-earnings ratio of -18.04 and a beta of 1.74. NeoGenomics has a 12 month low of $4.72 and a 12 month high of $15.57.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings data on Tuesday, April 28th. The medical research company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. NeoGenomics had a negative return on equity of 2.80% and a negative net margin of 13.30%.The company had revenue of $186.67 million for the quarter, compared to analyst estimates of $184.54 million. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, analysts forecast that NeoGenomics will post -0.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Lynn A. Tetrault sold 5,307 shares of NeoGenomics stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $11.29, for a total transaction of $59,916.03. Following the completion of the transaction, the director owned 91,422 shares of the company’s stock, valued at $1,032,154.38. The trade was a 5.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.10% of the company’s stock.

Institutional Trading of NeoGenomics

Institutional investors and hedge funds have recently modified their holdings of the business. First Horizon Corp grew its holdings in NeoGenomics by 52.6% during the 4th quarter. First Horizon Corp now owns 2,509 shares of the medical research company’s stock valued at $30,000 after buying an additional 865 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of NeoGenomics by 110.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,968 shares of the medical research company’s stock valued at $35,000 after acquiring an additional 1,556 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in NeoGenomics during the 4th quarter worth about $39,000. Smartleaf Asset Management LLC increased its position in NeoGenomics by 77.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,466 shares of the medical research company’s stock worth $42,000 after purchasing an additional 1,515 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in NeoGenomics by 68.2% in the 4th quarter. GAMMA Investing LLC now owns 3,602 shares of the medical research company’s stock valued at $42,000 after purchasing an additional 1,460 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

About NeoGenomics

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.