NeoGenomics (NASDAQ:NEO) Price Target Raised to $48.00 at Raymond James

NeoGenomics (NASDAQ:NEO) had its price objective hoisted by Raymond James from $40.00 to $48.00 in a report published on Wednesday, Anlyst Ratings reports. They currently have an outperform rating on the medical research company’s stock.

Several other research firms have also weighed in on NEO. Benchmark upped their price objective on shares of NeoGenomics from $40.00 to $48.00 and gave the company a buy rating in a research note on Wednesday. Guggenheim started coverage on shares of NeoGenomics in a research note on Friday, August 28th. They issued a buy rating and a $46.00 price objective on the stock. Morgan Stanley started coverage on shares of NeoGenomics in a research report on Wednesday, September 9th. They issued an overweight rating and a $46.00 target price for the company. BidaskClub raised shares of NeoGenomics from a buy rating to a strong-buy rating in a research report on Friday, October 9th. Finally, CIBC raised shares of NeoGenomics to an outperformer rating and boosted their target price for the stock from $10.50 to $14.50 in a research report on Monday. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $40.71.

NeoGenomics stock opened at $39.85 on Wednesday. The firm has a market cap of $4.40 billion, a PE ratio of -797.00 and a beta of 0.80. The company has a debt-to-equity ratio of 0.25, a quick ratio of 6.44 and a current ratio of 6.79. The firm’s 50 day moving average price is $38.33 and its two-hundred day moving average price is $33.81. NeoGenomics has a twelve month low of $20.47 and a twelve month high of $44.58.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings data on Tuesday, October 27th. The medical research company reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.02. The firm had revenue of $125.40 million for the quarter, compared to analyst estimates of $126.23 million. NeoGenomics had a negative net margin of 1.33% and a positive return on equity of 0.73%. The company’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.07 EPS. Equities analysts anticipate that NeoGenomics will post -0.01 EPS for the current fiscal year.

In other NeoGenomics news, Director Bruce K. Crowther sold 8,333 shares of the stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $35.01, for a total value of $291,738.33. Following the completion of the sale, the director now directly 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 the SEC website. Also, VP Jennifer Balliet sold 13,000 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $39.25, for a total transaction of $510,250.00. Following the completion of the sale, the vice president now directly owns 37,980 shares of the company’s stock, valued at $1,490,715. The disclosure for this sale can be found here. Over the last three months, insiders sold 456,650 shares of company stock valued at $17,052,313. Insiders own 6.50% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Flagship Harbor Advisors LLC raised its stake in shares of NeoGenomics by 48.0% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 1,310 shares of the medical research company’s stock valued at $48,000 after buying an additional 425 shares in the last quarter. Citizens Financial Group Inc RI raised its stake in shares of NeoGenomics by 11.8% in the 2nd quarter. Citizens Financial Group Inc RI now owns 4,332 shares of the medical research company’s stock valued at $134,000 after buying an additional 457 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of NeoGenomics by 6.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,152 shares of the medical research company’s stock valued at $284,000 after buying an additional 583 shares in the last quarter. Valeo Financial Advisors LLC raised its stake in shares of NeoGenomics by 150.0% in the 3rd quarter. Valeo Financial Advisors LLC now owns 1,000 shares of the medical research company’s stock valued at $37,000 after buying an additional 600 shares in the last quarter. Finally, Avitas Wealth Management LLC raised its stake in shares of NeoGenomics by 5.4% in the 3rd quarter. Avitas Wealth Management LLC now owns 12,177 shares of the medical research company’s stock valued at $449,000 after buying an additional 623 shares in the last quarter. Institutional investors 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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