NeoGenomics (NASDAQ:NEO) Receives “Buy” Rating from Benchmark

Benchmark reissued their buy rating on shares of NeoGenomics (NASDAQ:NEO) in a report released on Wednesday, Benzinga reports. The brokerage currently has a $18.00 price target on the medical research company’s stock.

A number of other brokerages have also commented on NEO. Piper Sandler increased their price objective on NeoGenomics from $18.00 to $20.00 and gave the stock an overweight rating in a research note on Monday, February 26th. Craig Hallum started coverage on NeoGenomics in a research note on Wednesday. They set a buy rating and a $26.00 price objective on the stock. Needham & Company LLC cut their price objective on shares of NeoGenomics from $24.00 to $19.00 and set a buy rating on the stock in a report on Tuesday. William Blair reiterated an outperform rating on shares of NeoGenomics in a research note on Wednesday, February 21st. Finally, The Goldman Sachs Group raised their price target on shares of NeoGenomics from $17.00 to $19.00 and gave the stock a buy rating in a research note on Thursday, February 22nd. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, NeoGenomics has a consensus rating of Moderate Buy and a consensus target price of $19.78.

NeoGenomics Stock Performance

Shares of NeoGenomics stock opened at $13.96 on Wednesday. NeoGenomics has a one year low of $11.03 and a one year high of $21.22. The stock’s 50-day moving average is $14.99 and its 200 day moving average is $15.96. 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 (NASDAQ:NEO) last announced its quarterly earnings data on Tuesday, February 20th. The medical research company reported ($0.02) earnings per share for the quarter, beating 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 net margin of 13.79% and a negative return on equity of 3.54%. As a group, equities analysts anticipate that NeoGenomics will post -0.2 EPS for the current fiscal year.

Insider Activity at NeoGenomics

In other news, General Counsel Alicia C. Olivo sold 2,587 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $14.96, for a total transaction of $38,701.52. Following the sale, the general counsel now directly owns 34,866 shares in the company, valued at $521,595.36. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NeoGenomics

Several large investors have recently added to or reduced their stakes in NEO. BluePath Capital Management LLC bought a new position in shares of NeoGenomics in the 3rd quarter worth $30,000. Burkett Financial Services LLC purchased a new position in NeoGenomics in the fourth quarter worth $46,000. Quadrant Capital Group LLC raised its position in NeoGenomics by 22.0% during the fourth quarter. Quadrant Capital Group LLC now owns 4,900 shares of the medical research company’s stock valued at $79,000 after purchasing an additional 883 shares in the last quarter. WINTON GROUP Ltd bought a new stake in NeoGenomics during the third quarter worth about $133,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of NeoGenomics by 27.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,434 shares of the medical research company’s stock worth $136,000 after purchasing an additional 1,791 shares in the last quarter. Institutional investors 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.