NeoGenomics (NASDAQ:NEO) had its target price lifted by Raymond James from $32.00 to $40.00 in a research report released on Wednesday morning, BenzingaRatingsTable reports. They currently have an outperform rating on the medical research company’s stock.

Several other brokerages also recently weighed in on NEO. SVB Leerink reaffirmed a buy rating and issued a $35.00 target price (up previously from $33.00) on shares of NeoGenomics in a report on Wednesday, April 29th. Needham & Company LLC upped their target price on shares of NeoGenomics from $33.00 to $39.00 and gave the stock a buy rating in a report on Wednesday. Benchmark upped their target price on shares of NeoGenomics from $35.00 to $40.00 and gave the stock a buy rating in a report on Wednesday. BidaskClub upgraded shares of NeoGenomics from a buy rating to a strong-buy rating in a research note on Friday, July 3rd. Finally, Stephens began coverage on shares of NeoGenomics in a research note on Tuesday, April 21st. They issued an overweight rating and a $33.00 price target on the stock. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. NeoGenomics currently has an average rating of Buy and a consensus target price of $35.80.

Shares of NEO stock opened at $38.23 on Wednesday. NeoGenomics has a 1 year low of $18.52 and a 1 year high of $38.74. The firm has a fifty day moving average price of $32.69 and a 200-day moving average price of $29.86. The company has a debt-to-equity ratio of 0.32, a current ratio of 6.79 and a quick ratio of 2.88. The company has a market cap of $4.03 billion, a price-to-earnings ratio of -764.60 and a beta of 0.76.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings data on Tuesday, July 28th. The medical research company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.06. The firm had revenue of $86.90 million during the quarter, compared to the consensus estimate of $86.55 million. NeoGenomics had a negative net margin of 1.33% and a positive return on equity of 0.73%. The company’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.07 EPS. Equities research analysts expect that NeoGenomics will post -0.1 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in NEO. Invesco Ltd. grew its position in shares of NeoGenomics by 68.2% in the first quarter. Invesco Ltd. now owns 3,861,808 shares of the medical research company’s stock valued at $106,624,000 after purchasing an additional 1,565,935 shares during the period. Norges Bank purchased a new position in shares of NeoGenomics in the fourth quarter worth about $24,693,000. Fred Alger Management LLC lifted its stake in shares of NeoGenomics by 273.0% in the first quarter. Fred Alger Management LLC now owns 800,906 shares of the medical research company’s stock worth $22,113,000 after buying an additional 586,202 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of NeoGenomics by 39.4% in the first quarter. Federated Hermes Inc. now owns 1,153,014 shares of the medical research company’s stock worth $31,835,000 after buying an additional 325,881 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of NeoGenomics by 8.5% in the first quarter. State Street Corp now owns 3,007,606 shares of the medical research company’s stock worth $83,040,000 after buying an additional 236,659 shares in the last quarter. Institutional investors own 88.78% of the company’s stock.

NeoGenomics Company Profile

NeoGenomics, Inc, together with its subsidiaries, operates a network of cancer-focused genetic testing laboratories in the United States; and laboratories in Switzerland and Singapore. It operates in two segments, Clinical Services and Pharma Services. The company's laboratories provide genetic and molecular testing services to hospitals, pathologists, oncologists, urologists, other clinicians and researchers, pharmaceutical firms, academic centers, and other clinical laboratories.

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Analyst Recommendations for NeoGenomics (NASDAQ:NEO)

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