Analysts Set NeoGenomics, Inc. (NASDAQ:NEO) PT at $11.86

NeoGenomics, Inc. (NASDAQ:NEO) has received a consensus recommendation of “Hold” from the fourteen research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $11.8571.

NEO has been the subject of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NeoGenomics in a research report on Monday, December 29th. Piper Sandler boosted their price target on NeoGenomics from $12.00 to $13.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 24th. Zacks Research cut NeoGenomics from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Benchmark reaffirmed a “hold” rating on shares of NeoGenomics in a research report on Wednesday, February 18th. Finally, TD Cowen reiterated a “buy” rating on shares of NeoGenomics in a research note on Monday, March 16th.

Insiders Place Their Bets

In related news, COO Warren Stone sold 22,128 shares of NeoGenomics stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $12.50, for a total transaction of $276,600.00. Following the sale, the chief operating officer owned 121,631 shares of the company’s stock, valued at $1,520,387.50. The trade was a 15.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On NeoGenomics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd increased its position in shares of NeoGenomics by 42.5% during the third quarter. Aster Capital Management DIFC Ltd now owns 3,341 shares of the medical research company’s stock worth $26,000 after acquiring an additional 997 shares during the last quarter. First Horizon Corp boosted its holdings in NeoGenomics by 52.6% in the fourth quarter. First Horizon Corp now owns 2,509 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 865 shares during the last quarter. Headlands Technologies LLC acquired a new stake in NeoGenomics during the 2nd quarter valued at approximately $32,000. Caitong International Asset Management Co. Ltd grew its stake in NeoGenomics by 110.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,968 shares of the medical research company’s stock valued at $35,000 after purchasing an additional 1,556 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in NeoGenomics during the 4th quarter worth approximately $39,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

NeoGenomics Stock Performance

NASDAQ:NEO opened at $7.76 on Friday. The firm’s fifty day simple moving average is $10.35 and its 200 day simple moving average is $10.47. The company has a current ratio of 4.26, a quick ratio of 3.94 and a debt-to-equity ratio of 0.41. NeoGenomics has a twelve month low of $4.72 and a twelve month high of $13.74. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -9.24 and a beta of 1.62.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings results on Tuesday, February 17th. The medical research company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.02. NeoGenomics had a negative return on equity of 3.10% and a negative net margin of 14.85%.The firm had revenue of $190.17 million during the quarter, compared to the consensus estimate of $188.25 million. During the same period in the prior year, the firm earned $0.04 EPS. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, equities research analysts expect that NeoGenomics will post -0.2 earnings per share for the current fiscal year.

About NeoGenomics

NeoGenomics, traded on the Nasdaq under the symbol NEO, is a leading provider of cancer-focused genetic and molecular testing services. Headquartered in Fort Myers, Florida, the company operates an integrated network of CAP-accredited and CLIA-certified laboratories across the United States, Europe and Asia. NeoGenomics delivers diagnostic insights that support oncologists, pathologists and healthcare institutions in the detection, prognosis and treatment of hematologic and solid tumor cancers.

The company’s core service offerings include flow cytometry, immunohistochemistry, fluorescence in situ hybridization (FISH), karyotyping and advanced molecular assays such as next-generation sequencing (NGS) panels and polymerase chain reaction (PCR) tests.