Bank of America Raises NeoGenomics (NASDAQ:NEO) Price Target to $19.00

NeoGenomics (NASDAQ:NEO) had its price target lifted by equities research analysts at Bank of America from $18.00 to $19.00 in a report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the medical research company’s stock. Bank of America‘s target price indicates a potential upside of 7.65% from the company’s current price.

NEO has been the subject of several other research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 price objective on shares of NeoGenomics in a research note on Wednesday, November 6th. Jefferies Financial Group assumed coverage on NeoGenomics in a research report on Tuesday. They issued a “buy” rating and a $22.00 price target for the company. Finally, Benchmark reissued a “buy” rating and set a $18.00 price objective on shares of NeoGenomics in a report on Tuesday, September 24th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.30.

NeoGenomics Stock Down 1.4 %

NeoGenomics stock traded down $0.25 during mid-day trading on Friday, hitting $17.65. The company’s stock had a trading volume of 91,303 shares, compared to its average volume of 797,365. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.99 and a quick ratio of 1.91. NeoGenomics has a 52-week low of $12.77 and a 52-week high of $21.22. The firm’s 50 day moving average is $15.31 and its 200 day moving average is $15.11. The company has a market cap of $2.27 billion, a PE ratio of -28.97 and a beta of 1.24.

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, topping analysts’ consensus estimates of $0.01 by $0.04. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. The company had revenue of $167.80 million during the quarter, compared to the consensus estimate of $167.00 million. During the same quarter in the prior year, the firm earned ($0.06) EPS. The company’s revenue was up 10.5% compared to the same quarter last year. On average, analysts anticipate that NeoGenomics will post -0.16 earnings per share for the current year.

Insider Transactions at NeoGenomics

In related news, General Counsel Alicia C. Olivo sold 5,175 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $15.36, for a total value of $79,488.00. Following the sale, the general counsel now owns 37,129 shares of the company’s stock, valued at $570,301.44. The trade was a 12.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through 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. Loomis Sayles & Co. L P bought a new position in shares of NeoGenomics in the third quarter valued at about $17,807,000. Segall Bryant & Hamill LLC increased its position in NeoGenomics by 67.0% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,893,407 shares of the medical research company’s stock valued at $27,928,000 after acquiring an additional 759,524 shares in the last quarter. First Light Asset Management LLC raised its stake in shares of NeoGenomics by 14.5% in the second quarter. First Light Asset Management LLC now owns 3,782,561 shares of the medical research company’s stock worth $52,464,000 after acquiring an additional 480,396 shares during the last quarter. Bellevue Group AG lifted its position in shares of NeoGenomics by 34.2% during the third quarter. Bellevue Group AG now owns 1,612,612 shares of the medical research company’s stock worth $23,786,000 after purchasing an additional 410,516 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of NeoGenomics by 7.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,324,624 shares of the medical research company’s stock valued at $46,108,000 after purchasing an additional 217,687 shares during 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.