Benchmark Forecasts Strong Price Appreciation for NeoGenomics (NASDAQ:NEO) Stock

NeoGenomics (NASDAQ:NEO) had its target price increased by investment analysts at Benchmark from $11.00 to $16.00 in a note issued to investors on Friday, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the medical research company’s stock. Benchmark’s price objective points to a potential upside of 15.19% from the company’s previous close.

A number of other analysts also recently commented on the company. Wall Street Zen raised NeoGenomics from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. TD Cowen reaffirmed a “buy” rating on shares of NeoGenomics in a research note on Wednesday, July 15th. Leerink Partners raised NeoGenomics from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $12.00 to $25.00 in a report on Wednesday, April 29th. Finally, Weiss Ratings raised NeoGenomics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $14.57.

NeoGenomics Stock Down 2.5%

NEO opened at $13.89 on Friday. The business has a 50-day moving average of $12.19 and a two-hundred day moving average of $10.65. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.42 and a quick ratio of 4.06. NeoGenomics has a 12 month low of $4.72 and a 12 month high of $15.57. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of -18.04 and a beta of 1.74.

NeoGenomics (NASDAQ:NEO) last issued its earnings results on Tuesday, April 28th. The medical research company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The company had revenue of $186.67 million during the quarter, compared to the consensus estimate of $184.54 million. NeoGenomics had a negative return on equity of 2.80% and a negative net margin of 13.30%.The company’s revenue was up 11.3% compared to the same quarter last year. On average, research analysts expect that NeoGenomics will post -0.15 earnings per share for the current year.

Insider Buying and Selling at NeoGenomics

In other NeoGenomics news, Director Lynn A. Tetrault sold 5,307 shares of NeoGenomics stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $11.29, for a total transaction of $59,916.03. Following the sale, the director owned 91,422 shares in the company, valued at $1,032,154.38. The trade was a 5.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On NeoGenomics

Hedge funds and other institutional investors have recently bought and sold shares of the business. First Horizon Corp grew its holdings 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 acquiring an additional 865 shares during the period. Headlands Technologies LLC bought a new position in NeoGenomics during the second quarter worth about $32,000. Caitong International Asset Management Co. Ltd grew its position in shares of 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 worth $35,000 after buying an additional 1,556 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of NeoGenomics in the 4th quarter valued at about $39,000. Finally, GAMMA Investing LLC increased its stake in shares of NeoGenomics by 68.2% in the 4th quarter. GAMMA Investing LLC now owns 3,602 shares of the medical research company’s stock valued at $42,000 after acquiring an additional 1,460 shares during the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

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.