Benchmark Reaffirms Buy Rating for NeoGenomics (NASDAQ:NEO)

NeoGenomics (NASDAQ:NEO)‘s stock had its “buy” rating reiterated by equities research analysts at Benchmark in a research note issued on Wednesday, Benzinga reports. They presently have a $18.00 price target on the medical research company’s stock. Benchmark’s price target would indicate a potential upside of 31.96% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. Craig Hallum started coverage on NeoGenomics in a research report on Wednesday. They issued a “buy” rating and a $26.00 target price for the company. William Blair reiterated an “outperform” rating on shares of NeoGenomics in a research report on Wednesday, February 21st. Needham & Company LLC cut their target price on shares of NeoGenomics from $24.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday. The Goldman Sachs Group lifted their price target on shares of NeoGenomics from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Finally, Piper Sandler boosted their target price on NeoGenomics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, February 26th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.67.

NeoGenomics Stock Performance

NEO traded down $0.28 during trading on Wednesday, reaching $13.64. 351,616 shares of the company were exchanged, compared to its average volume of 921,573. NeoGenomics has a 52 week low of $11.03 and a 52 week high of $21.22. The stock has a market cap of $1.74 billion, a P/E ratio of -19.49 and a beta of 1.10. The company has a current ratio of 6.20, a quick ratio of 5.95 and a debt-to-equity ratio of 0.57. The firm has a 50 day moving average of $15.04 and a 200 day moving average of $15.97.

NeoGenomics (NASDAQ:NEO) last posted its earnings results on Tuesday, February 20th. The medical research company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. The firm had revenue of $155.55 million during the quarter, compared to analyst estimates of $152.90 million. NeoGenomics had a negative net margin of 14.87% and a negative return on equity of 4.13%. On average, sell-side analysts forecast that NeoGenomics will post -0.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Alicia C. Olivo sold 2,587 shares of NeoGenomics stock in a transaction that occurred on 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 owns 34,866 shares of the company’s stock, valued at approximately $521,595.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.

Institutional Trading of NeoGenomics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its stake in shares of NeoGenomics by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 21,247 shares of the medical research company’s stock valued at $334,000 after purchasing an additional 1,791 shares in the last quarter. Oak Family Advisors LLC boosted its position in NeoGenomics by 7.7% in the first quarter. Oak Family Advisors LLC now owns 107,641 shares of the medical research company’s stock valued at $1,692,000 after buying an additional 7,663 shares in the last quarter. Banque Cantonale Vaudoise grew its stake in NeoGenomics by 6.6% during the first quarter. Banque Cantonale Vaudoise now owns 15,942 shares of the medical research company’s stock worth $251,000 after buying an additional 993 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of NeoGenomics by 27.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,434 shares of the medical research company’s stock worth $136,000 after buying an additional 1,791 shares in the last quarter. Finally, First Light Asset Management LLC raised its stake in shares of NeoGenomics by 29.6% in the fourth quarter. First Light Asset Management LLC now owns 3,926,756 shares of the medical research company’s stock valued at $63,535,000 after acquiring an additional 897,843 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

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.