NeoGenomics (NASDAQ:NEO) Price Target Raised to $40.00

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

NEO has been the topic of a number of other reports. BidaskClub raised NeoGenomics from a buy rating to a strong-buy rating in a research note on Friday, July 3rd. Zacks Investment Research raised NeoGenomics from a hold rating to a buy rating and set a $41.00 price target on the stock in a research note on Wednesday. Benchmark upped their price target on NeoGenomics from $35.00 to $40.00 and gave the stock a buy rating in a research note on Wednesday. CIBC downgraded NeoGenomics to a neutral rating and dropped their price target for the stock from $11.00 to $9.00 in a research note on Friday, May 15th. Finally, ValuEngine downgraded NeoGenomics from a buy rating to a hold rating in a research note on Friday, May 1st. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $35.80.

Shares of NeoGenomics stock traded down $0.11 on Wednesday, hitting $38.23. 756,825 shares of the company’s stock traded hands, compared to its average volume of 760,684. NeoGenomics has a one year low of $18.52 and a one year high of $38.74. 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 fifty day moving average of $32.69 and a two-hundred day moving average of $29.86. The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of -764.60 and a beta of 0.76.

NeoGenomics (NASDAQ:NEO) last announced its earnings results on Tuesday, July 28th. The medical research company reported ($0.04) EPS for the quarter, beating the 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 quarter in the prior year, the company earned $0.07 EPS. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. Equities research analysts anticipate that NeoGenomics will post -0.1 earnings per share for the current year.

Several institutional investors have recently modified their holdings of the company. Invesco Ltd. raised its stake 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 worth $106,624,000 after purchasing an additional 1,565,935 shares during the last quarter. State Street Corp increased its position in shares of NeoGenomics by 8.5% during the first quarter. State Street Corp now owns 3,007,606 shares of the medical research company’s stock valued at $83,040,000 after acquiring an additional 236,659 shares during the last quarter. Eagle Asset Management Inc. increased its position in shares of NeoGenomics by 0.8% during the first quarter. Eagle Asset Management Inc. now owns 2,506,782 shares of the medical research company’s stock valued at $69,212,000 after acquiring an additional 19,679 shares during the last quarter. Geode Capital Management LLC increased its position in shares of NeoGenomics by 6.3% during the first quarter. Geode Capital Management LLC now owns 1,501,440 shares of the medical research company’s stock valued at $41,453,000 after acquiring an additional 88,329 shares during the last quarter. Finally, Emerald Advisers LLC increased its position in shares of NeoGenomics by 7.7% during the second quarter. Emerald Advisers LLC now owns 1,425,555 shares of the medical research company’s stock valued at $44,164,000 after acquiring an additional 102,257 shares during the last quarter. 88.78% of the stock is owned by hedge funds and other 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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