Royal Bank of Canada Analysts Give NeoGenomics (NEO) a $23.00 Price Target

NeoGenomics (NASDAQ:NEO) has been given a $23.00 price objective by analysts at Royal Bank of Canada in a research report issued to clients and investors on Wednesday. The brokerage presently has an “outperform” rating on the medical research company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 163.76% from the company’s current price.

A number of other equities analysts also recently commented on NEO. BTIG Research downgraded shares of NeoGenomics from a “buy” rating to a “neutral” rating in a research note on Monday, September 11th. BidaskClub downgraded shares of NeoGenomics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 13th. Zacks Investment Research downgraded shares of NeoGenomics from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. Janney Montgomery Scott reissued a “buy” rating on shares of NeoGenomics in a research note on Thursday, October 26th. Finally, CIBC set a $19.00 target price on shares of NeoGenomics and gave the company a “neutral” rating in a research note on Wednesday. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. NeoGenomics presently has a consensus rating of “Buy” and a consensus target price of $15.83.

NeoGenomics (NASDAQ NEO) traded down $0.14 during trading hours on Wednesday, reaching $8.72. 264,800 shares of the company’s stock were exchanged, compared to its average volume of 248,950. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.99 and a current ratio of 2.14. The stock has a market capitalization of $712.43, a P/E ratio of -24.91, a P/E/G ratio of 3.57 and a beta of 0.84. NeoGenomics has a 12 month low of $7.12 and a 12 month high of $11.63.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Wednesday, October 25th. The medical research company reported $0.01 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.01. NeoGenomics had a negative net margin of 4.78% and a positive return on equity of 3.97%. The company had revenue of $63.05 million for the quarter, compared to the consensus estimate of $63.11 million. During the same quarter last year, the firm posted $0.04 earnings per share. NeoGenomics’s revenue was up 3.8% on a year-over-year basis. research analysts anticipate that NeoGenomics will post 0.04 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in NEO. Goldman Sachs Group Inc. lifted its position in NeoGenomics by 79.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 30,678 shares of the medical research company’s stock valued at $275,000 after purchasing an additional 13,561 shares during the last quarter. Uniplan Investment Counsel Inc. grew its holdings in NeoGenomics by 7.1% during the 3rd quarter. Uniplan Investment Counsel Inc. now owns 839,310 shares of the medical research company’s stock worth $9,341,000 after acquiring an additional 55,506 shares during the last quarter. Columbus Circle Investors bought a new stake in NeoGenomics during the 3rd quarter worth about $4,779,000. PEAK6 Investments L.P. bought a new stake in NeoGenomics during the 3rd quarter worth about $592,000. Finally, Suntrust Banks Inc. grew its holdings in NeoGenomics by 16.9% during the 2nd quarter. Suntrust Banks Inc. now owns 36,947 shares of the medical research company’s stock worth $330,000 after acquiring an additional 5,330 shares during the last quarter. 83.43% of the stock is currently owned by hedge funds and other institutional investors.

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NeoGenomics Company Profile

NeoGenomics, Inc is an operator of a network of cancer-focused genetic testing laboratories. The Company operates in Laboratory Testing Segment. This segment delivers testing services to hospitals, pathologists, oncologists, other clinicians and researchers. It has laboratory locations in Ft. Myers and Tampa, Florida; Aliso Viejo, Fresno, Irvine, and West Sacramento, California; Houston, Texas and Nashville, and Tennessee.

Analyst Recommendations for NeoGenomics (NASDAQ:NEO)

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