Stephens Reaffirms “Overweight” Rating for NeoGenomics (NASDAQ:NEO)

NeoGenomics (NASDAQ:NEO)‘s stock had its “overweight” rating reiterated by equities researchers at Stephens in a research report issued on Tuesday, Benzinga reports. They presently have a $19.00 target price on the medical research company’s stock. Stephens’ price target indicates a potential upside of 11.76% from the stock’s current price.

A number of other research analysts have also weighed in on the company. Benchmark restated a “buy” rating and set a $18.00 price objective on shares of NeoGenomics in a research report on Tuesday. TD Cowen lowered their price objective on shares of NeoGenomics from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Needham & Company LLC restated a “buy” rating and set a $19.00 target price on shares of NeoGenomics in a research report on Tuesday. BTIG Research dropped their price target on NeoGenomics from $23.00 to $21.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Finally, Craig Hallum assumed coverage on NeoGenomics in a research report on Wednesday, May 1st. They issued a “buy” rating and a $26.00 price target for the company. Two 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, NeoGenomics presently has a consensus rating of “Moderate Buy” and an average price target of $19.89.

NeoGenomics Price Performance

Shares of NeoGenomics stock traded up $2.36 during trading hours on Tuesday, hitting $17.00. The company’s stock had a trading volume of 1,631,335 shares, compared to its average volume of 842,259. The company has a market cap of $2.17 billion, a PE ratio of -25.76 and a beta of 1.19. The company has a debt-to-equity ratio of 0.58, a quick ratio of 7.22 and a current ratio of 7.48. The business has a 50 day moving average price of $13.93 and a two-hundred day moving average price of $14.68. NeoGenomics has a 12-month low of $11.03 and a 12-month high of $21.22.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Monday, July 29th. The medical research company reported $0.03 earnings per share for the quarter. NeoGenomics had a negative return on equity of 3.54% and a negative net margin of 13.79%. The business had revenue of $164.50 million during the quarter, compared to the consensus estimate of $161.82 million. During the same period in the prior year, the company posted ($0.09) EPS. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. Analysts expect that NeoGenomics will post -0.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NeoGenomics

Several hedge funds have recently bought and sold shares of the business. Louisiana State Employees Retirement System bought a new position in shares of NeoGenomics during the 4th quarter worth $1,032,000. Oak Family Advisors LLC grew its position in shares of NeoGenomics by 3.4% during the 4th quarter. Oak Family Advisors LLC now owns 99,978 shares of the medical research company’s stock worth $1,618,000 after buying an additional 3,241 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of NeoGenomics by 19.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,707 shares of the medical research company’s stock worth $497,000 after buying an additional 5,064 shares in the last quarter. Handelsbanken Fonder AB grew its position in shares of NeoGenomics by 7.0% during the 4th quarter. Handelsbanken Fonder AB now owns 19,900 shares of the medical research company’s stock worth $322,000 after buying an additional 1,300 shares in the last quarter. Finally, Jennison Associates LLC grew its position in shares of NeoGenomics by 17.8% during the 4th quarter. Jennison Associates LLC now owns 591,556 shares of the medical research company’s stock worth $9,571,000 after buying an additional 89,473 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

NeoGenomics Company Profile

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.