NeoGenomics (NASDAQ:NEO) Coverage Initiated at Craig Hallum

Craig Hallum began coverage on shares of NeoGenomics (NASDAQ:NEO) in a research note published on Wednesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $26.00 price objective on the medical research company’s stock.

Several other equities analysts have also commented on the company. The Goldman Sachs Group boosted their price target on NeoGenomics from $17.00 to $19.00 and gave the stock a buy rating in a research report on Thursday, February 22nd. William Blair reaffirmed an outperform rating on shares of NeoGenomics in a research report on Wednesday, February 21st. Piper Sandler upped 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, Needham & Company LLC cut 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, April 30th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $19.78.

NeoGenomics Stock Performance

NeoGenomics stock opened at $15.30 on Wednesday. The stock’s 50 day moving average price is $14.92 and its 200 day moving average price is $15.98. The firm has a market capitalization of $1.95 billion, a PE ratio of -23.18 and a beta of 1.12. The company has a debt-to-equity ratio of 0.58, a quick ratio of 5.95 and a current ratio of 7.48. NeoGenomics has a one year low of $11.03 and a one year high of $21.22.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings results on Tuesday, February 20th. The medical research company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.05. The firm had revenue of $155.55 million for the quarter, compared to analyst estimates of $152.90 million. NeoGenomics had a negative return on equity of 3.54% and a negative net margin of 13.79%. As a group, sell-side analysts expect that NeoGenomics will post -0.19 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Alicia C. Olivo sold 2,587 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $521,595.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Brown Advisory Inc. grew its stake in NeoGenomics by 16.9% during the 4th quarter. Brown Advisory Inc. now owns 9,643,599 shares of the medical research company’s stock worth $156,033,000 after buying an additional 1,397,397 shares during the last quarter. First Light Asset Management LLC grew its stake in 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 worth $63,535,000 after buying an additional 897,843 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in NeoGenomics by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,006,523 shares of the medical research company’s stock worth $48,650,000 after buying an additional 18,603 shares during the last quarter. Schroder Investment Management Group grew its stake in 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 worth $30,914,000 after buying an additional 529,178 shares during the last quarter. Finally, Emerald Advisers LLC grew its stake in NeoGenomics by 16.4% during the 3rd quarter. Emerald Advisers LLC now owns 1,927,074 shares of the medical research company’s stock worth $23,703,000 after buying an additional 270,855 shares during 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.