NeoGenomics Inc. (NEO) Receives Consensus Rating of “Buy” from Analysts
Shares of NeoGenomics Inc. (NASDAQ:NEO) have earned an average recommendation of “Buy” from the nine research firms that are currently covering the stock. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $10.80.
NEO has been the topic of a number of recent analyst reports. Zacks Investment Research cut NeoGenomics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 29th. BTIG Research reiterated a “buy” rating and issued a $10.00 target price on shares of NeoGenomics in a research report on Friday, July 8th. Craig Hallum reiterated a “buy” rating on shares of NeoGenomics in a research report on Saturday, July 9th. Benchmark Co. lifted their target price on NeoGenomics from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, July 27th. Finally, Raymond James Financial Inc. initiated coverage on NeoGenomics in a research report on Thursday, September 8th. They issued an “outperform” rating and a $10.00 target price on the stock.
In related news, insider Maher Albitar sold 60,075 shares of NeoGenomics stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $8.23, for a total value of $494,417.25. Following the transaction, the insider now directly owns 165,375 shares of the company’s stock, valued at $1,361,036.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 12.20% of the stock is owned by corporate insiders.
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A number of institutional investors have recently modified their holdings of the stock. Royce & Associates LP raised its position in shares of NeoGenomics by 278.4% in the first quarter. Royce & Associates LP now owns 473,000 shares of the company’s stock valued at $3,188,000 after buying an additional 348,000 shares during the period. Uniplan Investment Counsel Inc. raised its position in shares of NeoGenomics by 0.3% in the first quarter. Uniplan Investment Counsel Inc. now owns 821,860 shares of the company’s stock valued at $5,539,000 after buying an additional 2,710 shares during the period. Nicholas Investment Partners LP raised its position in shares of NeoGenomics by 45.3% in the first quarter. Nicholas Investment Partners LP now owns 303,810 shares of the company’s stock valued at $2,048,000 after buying an additional 94,665 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its position in shares of NeoGenomics by 14,127.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 142,276 shares of the company’s stock valued at $959,000 after buying an additional 141,276 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in shares of NeoGenomics during the second quarter valued at about $171,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NeoGenomics (NASDAQ:NEO) traded up 2.57% during mid-day trading on Monday, hitting $7.57. 88,372 shares of the company were exchanged. The company’s market capitalization is $589.65 million. The firm has a 50 day moving average of $8.05 and a 200 day moving average of $8.15. NeoGenomics has a 12-month low of $5.49 and a 12-month high of $9.54.
NeoGenomics (NASDAQ:NEO) last released its earnings results on Tuesday, July 26th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.01. NeoGenomics had a positive return on equity of 3.18% and a negative net margin of 3.76%. The firm had revenue of $63.10 million for the quarter, compared to analysts’ expectations of $61.07 million. During the same quarter in the previous year, the business posted $0.01 earnings per share. The business’s revenue for the quarter was up 159.0% on a year-over-year basis. Equities research analysts forecast that NeoGenomics will post $0.13 earnings per share for the current year.
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