NeoGenomics, Inc. (NASDAQ:NEO) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of NeoGenomics, Inc. (NASDAQ:NEO) have received a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $19.89.

Several brokerages recently commented on NEO. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price objective on shares of NeoGenomics in a research note on Tuesday, July 30th. Benchmark restated a “buy” rating and set a $18.00 price target on shares of NeoGenomics in a research report on Tuesday, July 30th. Finally, Stephens reiterated an “overweight” rating and issued a $19.00 price objective on shares of NeoGenomics in a research report on Tuesday, July 30th.

NeoGenomics Price Performance

NeoGenomics stock opened at $16.28 on Monday. The business’s 50 day simple moving average is $16.05 and its 200 day simple moving average is $14.94. NeoGenomics has a 12 month low of $11.03 and a 12 month high of $21.22. The company has a market cap of $2.08 billion, a price-to-earnings ratio of -24.67 and a beta of 1.19. The company has a current ratio of 2.01, a quick ratio of 1.93 and a debt-to-equity ratio of 0.37.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings results on Monday, July 29th. The medical research company reported $0.03 EPS for the quarter. NeoGenomics had a negative return on equity of 2.72% and a negative net margin of 12.50%. The firm had revenue of $164.50 million for the quarter, compared to analysts’ expectations of $161.82 million. During the same quarter in the prior year, the firm earned ($0.09) EPS. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. Sell-side analysts forecast that NeoGenomics will post -0.22 EPS for the current year.

Hedge Funds Weigh In On NeoGenomics

A number of hedge funds and other institutional investors have recently modified their holdings of NEO. Vanguard Group Inc. lifted its position in NeoGenomics by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 14,211,019 shares of the medical research company’s stock worth $223,397,000 after buying an additional 41,354 shares during the last quarter. First Light Asset Management LLC raised its stake in shares of NeoGenomics by 29.6% during the fourth quarter. First Light Asset Management LLC now owns 3,926,756 shares of the medical research company’s stock worth $63,535,000 after acquiring an additional 897,843 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of NeoGenomics by 7.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,324,624 shares of the medical research company’s stock worth $46,108,000 after acquiring an additional 217,687 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of NeoGenomics by 5.4% in the 2nd quarter. American Century Companies Inc. now owns 3,261,756 shares of the medical research company’s stock valued at $45,241,000 after purchasing an additional 167,145 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of NeoGenomics by 77.8% during the 1st quarter. Jennison Associates LLC now owns 1,051,627 shares of the medical research company’s stock valued at $16,532,000 after purchasing an additional 460,071 shares during the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

About NeoGenomics

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.