NeoGenomics' (NEO) Buy Rating Reiterated at Needham & Company LLC

NeoGenomics (NASDAQ:NEO - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at Needham & Company LLC in a report released on Wednesday, Benzinga reports. They presently have a $19.00 price target on the medical research company's stock. Needham & Company LLC's price objective suggests a potential upside of 22.90% from the company's current price.

A number of other brokerages have also commented on NEO. Stephens reissued an "overweight" rating and set a $19.00 price objective on shares of NeoGenomics in a report on Tuesday, July 30th. Benchmark reissued a "buy" rating and set a $18.00 price objective on shares of NeoGenomics in a report on Tuesday, September 24th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $19.89.

NeoGenomics Stock Up 3.5 %

Shares of NASDAQ:NEO traded up $0.53 during trading on Wednesday, reaching $15.46. 1,244,304 shares of the company traded hands, compared to its average volume of 770,070. The firm has a fifty day simple moving average of $14.71 and a 200 day simple moving average of $14.73. The company has a quick ratio of 1.93, a current ratio of 2.01 and a debt-to-equity ratio of 0.37. NeoGenomics has a 1-year low of $12.77 and a 1-year high of $21.22. The firm has a market cap of $1.98 billion, a P/E ratio of -24.94 and a beta of 1.19.

Institutional Trading of NeoGenomics

Institutional investors have recently modified their holdings of the stock. Arizona State Retirement System lifted its stake in shares of NeoGenomics by 2.0% in the second quarter. Arizona State Retirement System now owns 35,739 shares of the medical research company's stock worth $496,000 after acquiring an additional 708 shares during the period. Crossmark Global Holdings Inc. increased its position in NeoGenomics by 2.9% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 29,494 shares of the medical research company's stock valued at $409,000 after buying an additional 842 shares in the last quarter. Fernwood Investment Management LLC increased its holdings in shares of NeoGenomics by 1.0% during the third quarter. Fernwood Investment Management LLC now owns 89,500 shares of the medical research company's stock valued at $1,320,000 after acquiring an additional 900 shares in the last quarter. Blue Trust Inc. raised its position in shares of NeoGenomics by 42.3% during the third quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company's stock worth $46,000 after purchasing an additional 987 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its stake in NeoGenomics by 3.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 32,505 shares of the medical research company's stock valued at $451,000 after purchasing an additional 1,030 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors.

NeoGenomics Company Profile

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.