NeoGenomics (NASDAQ:NEO - Get Free Report) had its price target increased by research analysts at Bank of America from $18.00 to $19.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "neutral" rating on the medical research company's stock. Bank of America's price objective points to a potential upside of 7.16% from the company's current price.
Other research analysts have also recently issued research reports about the stock. Needham & Company LLC restated a "buy" rating and set a $19.00 price objective on shares of NeoGenomics in a report on Wednesday, November 6th. Benchmark reissued a "buy" rating and issued a $18.00 price target on shares of NeoGenomics in a report on Tuesday, September 24th. Finally, Jefferies Financial Group started coverage on shares of NeoGenomics in a research report on Tuesday. They issued a "buy" rating and a $22.00 price objective for the company. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $20.30.
View Our Latest Stock Report on NeoGenomics
NeoGenomics Price Performance
Shares of NeoGenomics stock traded down $0.17 during midday trading on Friday, reaching $17.73. The company had a trading volume of 645,392 shares, compared to its average volume of 799,737. The company has a current ratio of 1.99, a quick ratio of 1.91 and a debt-to-equity ratio of 0.37. The stock has a fifty day simple moving average of $15.39 and a 200 day simple moving average of $15.13. NeoGenomics has a 1-year low of $12.77 and a 1-year high of $21.22. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of -29.07 and a beta of 1.24.
NeoGenomics (NASDAQ:NEO - Get Free Report) last released its earnings results on Tuesday, November 5th. The medical research company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. NeoGenomics had a negative return on equity of 2.11% and a negative net margin of 12.07%. The company had revenue of $167.80 million during the quarter, compared to analysts' expectations of $167.00 million. During the same period last year, the firm earned ($0.06) EPS. The business's revenue for the quarter was up 10.5% on a year-over-year basis. As a group, equities research analysts forecast that NeoGenomics will post -0.16 earnings per share for the current year.
Insiders Place Their Bets
In related news, General Counsel Alicia C. Olivo sold 5,175 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $15.36, for a total transaction of $79,488.00. Following the completion of the transaction, the general counsel now directly owns 37,129 shares of the company's stock, valued at approximately $570,301.44. This represents a 12.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.30% of the company's stock.
Institutional Investors Weigh In On NeoGenomics
A number of institutional investors and hedge funds have recently modified their holdings of NEO. Blue Trust Inc. raised its stake in NeoGenomics by 107.2% in the 2nd quarter. Blue Trust Inc. now owns 2,331 shares of the medical research company's stock valued at $32,000 after acquiring an additional 1,206 shares during the period. Quarry LP acquired a new position in shares of NeoGenomics in the third quarter valued at $40,000. Canada Pension Plan Investment Board bought a new position in shares of NeoGenomics in the second quarter valued at about $57,000. KBC Group NV lifted its stake in shares of NeoGenomics by 33.1% during the 3rd quarter. KBC Group NV now owns 4,530 shares of the medical research company's stock worth $67,000 after buying an additional 1,127 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of NeoGenomics by 7.6% during the 3rd quarter. FMR LLC now owns 13,255 shares of the medical research company's stock worth $196,000 after buying an additional 931 shares during the period. 98.50% of the stock is owned by institutional investors.
About NeoGenomics
(
Get Free Report)
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.
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