BidaskClub upgraded shares of NeoGenomics (NASDAQ:NEO) from a buy rating to a strong-buy rating in a research report report published on Friday, BidAskClub reports.

Several other equities research analysts have also recently weighed in on the stock. Bank of America began coverage on shares of NeoGenomics in a research report on Thursday, June 25th. They set a buy rating and a $34.00 price objective for the company. Needham & Company LLC increased their price target on NeoGenomics from $33.00 to $39.00 and gave the stock a buy rating in a report on Wednesday, July 29th. SVB Leerink boosted their price objective on NeoGenomics from $35.00 to $45.00 and gave the company an outperform rating in a research note on Wednesday, July 29th. Morgan Stanley assumed coverage on NeoGenomics in a research note on Wednesday, September 9th. They set an overweight rating and a $46.00 target price for the company. Finally, Benchmark boosted their price target on NeoGenomics from $35.00 to $40.00 and gave the company a buy rating in a research note on Wednesday, July 29th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. NeoGenomics presently has a consensus rating of Buy and a consensus target price of $37.50.

NASDAQ NEO opened at $40.42 on Friday. The firm has a market capitalization of $4.46 billion, a PE ratio of -808.40 and a beta of 0.80. The business’s 50-day moving average price is $36.97 and its two-hundred day moving average price is $32.29. The company has a current ratio of 6.79, a quick ratio of 6.44 and a debt-to-equity ratio of 0.25. NeoGenomics has a 12 month low of $19.40 and a 12 month high of $41.03.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Tuesday, July 28th. The medical research company reported ($0.04) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.06. NeoGenomics had a positive return on equity of 0.73% and a negative net margin of 1.33%. The company had revenue of $86.90 million for the quarter, compared to analyst estimates of $86.55 million. During the same period in the previous year, the firm earned $0.07 earnings per share. The firm’s quarterly revenue was down 14.6% on a year-over-year basis. As a group, analysts forecast that NeoGenomics will post -0.01 earnings per share for the current fiscal year.

In related news, Director Bruce K. Crowther sold 8,333 shares of the firm’s stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $35.01, for a total value of $291,738.33. Following the transaction, the director now owns 46,483 shares of the company’s stock, valued at approximately $1,627,369.83. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider William Bonello sold 22,000 shares of NeoGenomics stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $38.61, for a total value of $849,420.00. Following the transaction, the insider now owns 32,096 shares of the company’s stock, valued at approximately $1,239,226.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 538,006 shares of company stock worth $20,157,671. 6.50% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in the stock. C M Bidwell & Associates Ltd. purchased a new stake in NeoGenomics in the 1st quarter valued at $30,000. Carroll Financial Associates Inc. purchased a new stake in shares of NeoGenomics in the second quarter valued at about $31,000. Cullen Frost Bankers Inc. bought a new position in shares of NeoGenomics during the second quarter valued at about $31,000. Jacobi Capital Management LLC boosted its holdings in NeoGenomics by 70.1% during the second quarter. Jacobi Capital Management LLC now owns 3,401 shares of the medical research company’s stock worth $62,000 after purchasing an additional 1,401 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC grew its position in NeoGenomics by 108.3% in the 2nd quarter. Prime Capital Investment Advisors LLC now owns 2,083 shares of the medical research company’s stock worth $65,000 after purchasing an additional 1,083 shares in the last quarter. Institutional investors and hedge funds own 91.67% of the company’s stock.

NeoGenomics Company Profile

NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States, as well as 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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