NeoGenomics (NASDAQ:NEO) Given Buy Rating at Needham & Company LLC

NeoGenomics (NASDAQ:NEO)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a research note issued to investors on Friday,Benzinga reports. They presently have a $19.00 price target on the medical research company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 26.58% from the company’s current price.

Several other research firms have also recently commented on NEO. Benchmark reiterated a “buy” rating and set a $18.00 target price on shares of NeoGenomics in a research note on Tuesday, September 24th. Bank of America increased their target price on shares of NeoGenomics from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Finally, Jefferies Financial Group initiated coverage on NeoGenomics in a research note on Tuesday, December 10th. They set a “buy” rating and a $22.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, NeoGenomics has an average rating of “Moderate Buy” and a consensus price target of $20.30.

NeoGenomics Stock Performance

Shares of NASDAQ:NEO traded down $3.60 during midday trading on Friday, hitting $15.01. The company’s stock had a trading volume of 1,117,580 shares, compared to its average volume of 700,841. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.91 and a current ratio of 1.99. The stock’s 50 day simple moving average is $16.81 and its 200 day simple moving average is $15.63. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of -24.61 and a beta of 1.24. NeoGenomics has a fifty-two week low of $12.77 and a fifty-two week high of $19.11.

NeoGenomics (NASDAQ:NEO) last released its earnings results on Tuesday, November 5th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. NeoGenomics had a negative return on equity of 2.11% and a negative net margin of 12.07%. The firm had revenue of $167.80 million for the quarter, compared to analyst estimates of $167.00 million. During the same quarter last year, the firm posted ($0.06) EPS. The company’s revenue was up 10.5% on a year-over-year basis. As a group, research analysts anticipate that NeoGenomics will post -0.16 earnings per share for the current year.

Insider Activity at NeoGenomics

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 5,175 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $15.36, for a total value of $79,488.00. Following the transaction, the general counsel now directly owns 37,129 shares in the company, valued at $570,301.44. The trade was a 12.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is owned by insiders.

Institutional Trading of NeoGenomics

Several hedge funds have recently modified their holdings of NEO. Nordea Investment Management AB raised its holdings in shares of NeoGenomics by 2.8% in the fourth quarter. Nordea Investment Management AB now owns 77,534 shares of the medical research company’s stock valued at $1,301,000 after buying an additional 2,125 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of NeoGenomics by 174.9% in the fourth quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company’s stock worth $30,000 after acquiring an additional 1,142 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of NeoGenomics by 2.0% during the third quarter. Franklin Resources Inc. now owns 2,043,840 shares of the medical research company’s stock worth $28,225,000 after purchasing an additional 39,740 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of NeoGenomics by 1.2% during the third quarter. Geode Capital Management LLC now owns 3,051,806 shares of the medical research company’s stock valued at $45,022,000 after purchasing an additional 36,136 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of NeoGenomics by 1.6% in the third quarter. State Street Corp now owns 4,958,582 shares of the medical research company’s stock valued at $73,139,000 after purchasing an additional 80,449 shares in the last quarter. 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.