NeoGenomics (NASDAQ:NEO) Price Target Raised to $15.00

NeoGenomics (NASDAQ:NEO) had its target price boosted by Needham & Company LLC from $14.00 to $15.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a buy rating on the medical research company’s stock.

Other equities research analysts have also recently issued reports about the company. Zacks Research raised NeoGenomics from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. Leerink Partners set a $14.00 target price on NeoGenomics in a research report on Tuesday, October 28th. TD Cowen reissued a “buy” rating on shares of NeoGenomics in a research note on Wednesday, January 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NeoGenomics in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, NeoGenomics has an average rating of “Hold” and a consensus target price of $11.57.

NeoGenomics Price Performance

NASDAQ:NEO opened at $10.01 on Tuesday. NeoGenomics has a 52 week low of $4.72 and a 52 week high of $13.74. The stock’s fifty day moving average is $12.10 and its two-hundred day moving average is $10.11. The company has a market capitalization of $1.30 billion, a P/E ratio of -11.92 and a beta of 1.58. The company has a quick ratio of 3.62, a current ratio of 4.26 and a debt-to-equity ratio of 0.41.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings data on Tuesday, February 17th. The medical research company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 last year, the company earned $0.04 EPS. The company’s quarterly revenue was up 10.6% on a year-over-year basis. Equities analysts expect that NeoGenomics will post -0.2 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Alicia C. Olivo sold 20,916 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $12.00, for a total value of $250,992.00. Following the transaction, the executive vice president owned 31,083 shares in the company, valued at $372,996. The trade was a 40.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Warren Stone sold 22,128 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $12.50, for a total value of $276,600.00. Following the sale, the chief operating officer directly owned 121,631 shares of the company’s stock, valued at approximately $1,520,387.50. This represents a 15.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

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

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.