NeoGenomics (NASDAQ:NEO) Earns Buy Rating from Analysts at Craig Hallum

Craig Hallum began coverage on shares of NeoGenomics (NASDAQ:NEO) in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage issued a buy rating and a $26.00 price target on the medical research company’s stock.

Other equities research analysts have also recently issued reports about the company. Needham & Company LLC dropped their price objective on 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 objective on NeoGenomics from $17.00 to $19.00 and gave the company a buy rating in a research note on Thursday, February 22nd. William Blair reaffirmed an outperform rating on shares of NeoGenomics in a research note on Wednesday, February 21st. Finally, Piper Sandler lifted their price objective on NeoGenomics from $18.00 to $20.00 and gave the company an overweight rating in a research note on Monday, February 26th. Three 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 presently has a consensus rating of Moderate Buy and a consensus price target of $19.78.

NeoGenomics Trading Up 3.9 %

NEO stock opened at $15.30 on Wednesday. The business has a fifty day moving average of $14.92 and a two-hundred day moving average of $15.97. The company has a debt-to-equity ratio of 0.58, a current ratio of 7.48 and a quick ratio of 5.95. NeoGenomics has a 52-week low of $11.03 and a 52-week high of $21.22.

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, topping the consensus estimate of ($0.07) by $0.05. The company had revenue of $155.55 million during the quarter, compared to analysts’ expectations of $152.90 million. NeoGenomics had a negative return on equity of 3.54% and a negative net margin of 13.79%. Analysts predict that NeoGenomics will post -0.19 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 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 owns 34,866 shares in the company, valued at $521,595.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by company insiders.

Institutional Trading of NeoGenomics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BluePath Capital Management LLC acquired a new position in NeoGenomics in the 3rd quarter valued at about $30,000. Burkett Financial Services LLC acquired a new position in NeoGenomics in the 4th quarter valued at about $46,000. Quadrant Capital Group LLC increased its position in NeoGenomics by 22.0% in the 4th quarter. Quadrant Capital Group LLC now owns 4,900 shares of the medical research company’s stock valued at $79,000 after acquiring an additional 883 shares during the period. PNC Financial Services Group Inc. increased its position in 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 valued at $136,000 after acquiring an additional 1,791 shares during the period. Finally, WINTON GROUP Ltd acquired a new position in NeoGenomics in the 3rd quarter valued at about $133,000. Institutional investors and hedge funds 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.