NeoGenomics’ (NEO) “Buy” Rating Reiterated at Benchmark

Benchmark reiterated their buy rating on shares of NeoGenomics (NASDAQ:NEO) in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a $18.00 price objective on the medical research company’s stock.

Several other research analysts have also recently commented on the stock. William Blair restated an outperform rating on shares of NeoGenomics in a research note on Wednesday, February 21st. Craig Hallum initiated coverage on NeoGenomics in a research report on Wednesday. They issued a buy rating and a $26.00 target price on the stock. Needham & Company LLC lowered their target price on NeoGenomics from $24.00 to $19.00 and set a buy rating on the stock in a research report on Tuesday. Piper Sandler raised their target price on NeoGenomics from $18.00 to $20.00 and gave the company an overweight rating in a research report on Monday, February 26th. Finally, The Goldman Sachs Group raised their target price on NeoGenomics from $17.00 to $19.00 and gave the company a buy rating in a research report on Thursday, February 22nd. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NeoGenomics presently has a consensus rating of Moderate Buy and an average price target of $19.78.

NeoGenomics Stock Performance

NASDAQ:NEO opened at $15.30 on Wednesday. The business’s 50-day simple moving average is $14.92 and its 200 day simple moving average is $15.97. NeoGenomics has a one year low of $11.03 and a one year high of $21.22. The company has a current ratio of 7.48, a quick ratio of 5.95 and a debt-to-equity ratio of 0.58.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Tuesday, February 20th. The medical research company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.05. NeoGenomics had a negative return on equity of 3.54% and a negative net margin of 13.79%. The business had revenue of $155.55 million during the quarter, compared to the consensus estimate of $152.90 million. Research analysts forecast that NeoGenomics will post -0.19 earnings per share for the current year.

Insider Buying and Selling at NeoGenomics

In related news, General Counsel Alicia C. Olivo sold 2,587 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $14.96, for a total value of $38,701.52. Following the completion of the sale, the general counsel now directly owns 34,866 shares of the company’s stock, valued at approximately $521,595.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On NeoGenomics

A number of institutional investors have recently modified their holdings of NEO. Brown Advisory Inc. lifted its holdings in shares of NeoGenomics by 25.0% during the 3rd quarter. Brown Advisory Inc. now owns 8,246,202 shares of the medical research company’s stock valued at $101,428,000 after buying an additional 1,651,717 shares during the last quarter. First Light Asset Management LLC lifted its holdings in shares of NeoGenomics by 29.6% during the 4th quarter. First Light Asset Management LLC now owns 3,926,756 shares of the medical research company’s stock valued at $63,535,000 after buying an additional 897,843 shares during the last quarter. Norges Bank acquired a new stake in shares of NeoGenomics during the 4th quarter valued at about $14,512,000. Schroder Investment Management Group lifted its holdings in shares of NeoGenomics by 26.7% during the 3rd quarter. Schroder Investment Management Group now owns 2,513,307 shares of the medical research company’s stock valued at $30,914,000 after buying an additional 529,178 shares during the last quarter. Finally, Jennison Associates LLC acquired a new stake in shares of NeoGenomics during the 3rd quarter valued at about $6,176,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

About NeoGenomics

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.