NeoGenomics (NASDAQ:NEO) Price Target Raised to $50.00 at Craig Hallum

NeoGenomics (NASDAQ:NEO) had its price objective lifted by Craig Hallum from $42.00 to $50.00 in a report issued on Wednesday morning, The Fly reports. The firm currently has a buy rating on the medical research company’s stock.

A number of other equities analysts have also weighed in on NEO. Needham & Company LLC upped their price objective on NeoGenomics from $39.00 to $46.00 and gave the stock a buy rating in a research note on Wednesday. Benchmark increased their price target on NeoGenomics from $40.00 to $48.00 and gave the company a buy rating in a research note on Wednesday. CIBC raised NeoGenomics to an outperformer rating and increased their price target for the company from $10.50 to $14.50 in a research note on Monday. Morgan Stanley started coverage on NeoGenomics in a research note on Wednesday, September 9th. They set an overweight rating and a $46.00 price target for the company. Finally, BidaskClub raised NeoGenomics from a buy rating to a strong-buy rating in a research note on Friday, October 9th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. NeoGenomics has an average rating of Buy and a consensus price target of $40.71.

NASDAQ NEO opened at $39.85 on Wednesday. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of -797.00 and a beta of 0.80. The company has a quick ratio of 6.44, a current ratio of 6.79 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average price of $38.33 and a 200-day moving average price of $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, topping analysts’ consensus estimates of $0.04 by $0.02. The firm had revenue of $125.40 million during the quarter, compared to analyst estimates of $126.23 million. NeoGenomics had a positive return on equity of 0.73% and a negative net margin of 1.33%. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.07 earnings per share. Research analysts expect that NeoGenomics will post -0.01 EPS for the current fiscal year.

In other news, Director Steven C. Jones sold 280,000 shares of the stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $36.72, for a total value of $10,281,600.00. Following the sale, the director now directly owns 178,932 shares in the company, valued at $6,570,383.04. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Bruce K. Crowther sold 8,333 shares of the stock in a transaction that occurred on Thursday, September 24th. The stock was 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 owns 46,483 shares in the company, valued at $1,627,369.83. The disclosure for this sale can be found here. Insiders sold a total of 456,650 shares of company stock valued at $17,052,313 over the last ninety days. Corporate insiders own 6.50% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. State of Tennessee Treasury Department increased its holdings in NeoGenomics by 12.3% during the 1st quarter. State of Tennessee Treasury Department now owns 60,051 shares of the medical research company’s stock worth $1,658,000 after purchasing an additional 6,556 shares during the period. State Street Corp increased its holdings in NeoGenomics by 8.5% during the 1st quarter. State Street Corp now owns 3,007,606 shares of the medical research company’s stock worth $83,040,000 after purchasing an additional 236,659 shares during the period. State of Alaska Department of Revenue increased its holdings in NeoGenomics by 12.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 103,575 shares of the medical research company’s stock worth $3,208,000 after purchasing an additional 11,478 shares during the period. Envestnet Asset Management Inc. increased its holdings in NeoGenomics by 23.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 49,646 shares of the medical research company’s stock worth $1,538,000 after purchasing an additional 9,326 shares during the period. Finally, Carroll Financial Associates Inc. purchased a new position in NeoGenomics during the 2nd quarter worth $31,000. Hedge funds and other institutional investors own 91.67% of the company’s stock.

About NeoGenomics

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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The Fly

Analyst Recommendations for NeoGenomics (NASDAQ:NEO)

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