Analysts Set NeoGenomics, Inc. (NASDAQ:NEO) Target Price at $19.50

NeoGenomics, Inc. (NASDAQ:NEO) has been assigned an average rating of “Buy” from the thirteen analysts that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $19.50.

Several equities analysts have recently issued reports on NEO shares. Needham & Company LLC lifted their target price on shares of NeoGenomics from $19.00 to $22.00 and gave the company a “buy” rating in a report on Friday, March 29th. Zacks Investment Research upgraded shares of NeoGenomics from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a report on Tuesday, March 5th. BidaskClub upgraded shares of NeoGenomics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 20th. Finally, CIBC upgraded shares of NeoGenomics from a “neutral” rating to an “outperform” rating and lowered their target price for the company from $18.00 to $15.00 in a report on Tuesday, March 12th.

Shares of NEO opened at $23.09 on Monday. The company has a quick ratio of 1.46, a current ratio of 1.59 and a debt-to-equity ratio of 0.35. NeoGenomics has a one year low of $11.05 and a one year high of $24.30. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 143.81 and a beta of 0.84.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings data on Tuesday, April 30th. The medical research company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.03. NeoGenomics had a negative net margin of 0.14% and a positive return on equity of 3.07%. The business had revenue of $95.60 million during the quarter, compared to analyst estimates of $89.71 million. During the same period last year, the business posted $0.04 earnings per share. NeoGenomics’s quarterly revenue was up 50.8% compared to the same quarter last year. Sell-side analysts predict that NeoGenomics will post 0.18 EPS for the current fiscal year.

In related news, insider George Cardoza sold 151,676 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $22.82, for a total transaction of $3,461,246.32. Following the completion of the sale, the insider now owns 452,507 shares of the company’s stock, valued at $10,326,209.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William Bonello sold 7,200 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $23.53, for a total transaction of $169,416.00. Following the sale, the insider now directly owns 13,935 shares of the company’s stock, valued at approximately $327,890.55. The disclosure for this sale can be found here. Insiders have sold 338,876 shares of company stock valued at $7,674,362 in the last three months. 8.80% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in NEO. Advisor Group Inc. increased its position in shares of NeoGenomics by 138.4% during the first quarter. Advisor Group Inc. now owns 3,399 shares of the medical research company’s stock valued at $69,000 after acquiring an additional 1,973 shares in the last quarter. Bessemer Group Inc. bought a new stake in shares of NeoGenomics during the fourth quarter valued at approximately $78,000. Bank of Montreal Can increased its position in shares of NeoGenomics by 1,355.9% during the fourth quarter. Bank of Montreal Can now owns 6,377 shares of the medical research company’s stock valued at $80,000 after acquiring an additional 5,939 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in shares of NeoGenomics during the fourth quarter valued at approximately $103,000. Finally, Great West Life Assurance Co. Can increased its position in shares of NeoGenomics by 53.9% during the fourth quarter. Great West Life Assurance Co. Can now owns 9,851 shares of the medical research company’s stock valued at $120,000 after acquiring an additional 3,451 shares in the last quarter. 84.27% of the stock is owned by institutional investors.

About NeoGenomics

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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