NeoGenomics (NASDAQ:NEO) Given a $27.00 Price Target at Needham & Company LLC

Needham & Company LLC set a $27.00 price target on NeoGenomics (NASDAQ:NEO) in a research report released on Wednesday morning, TipRanks reports. The brokerage currently has a buy rating on the medical research company’s stock.

A number of other brokerages have also recently weighed in on NEO. Zacks Investment Research cut shares of NeoGenomics from a buy rating to a hold rating in a research report on Thursday, July 25th. Raymond James upped their price target on shares of NeoGenomics from $23.00 to $27.00 and gave the stock an outperform rating in a research report on Wednesday. Benchmark set a $27.00 price target on shares of NeoGenomics and gave the stock a buy rating in a research report on Wednesday. BidaskClub raised shares of NeoGenomics from a hold rating to a buy rating in a research report on Friday, July 19th. Finally, ValuEngine cut shares of NeoGenomics from a strong-buy rating to a buy rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $23.78.

Shares of NASDAQ NEO traded down $0.43 during trading on Wednesday, hitting $25.42. 1,324,287 shares of the company traded hands, compared to its average volume of 1,088,285. NeoGenomics has a 1 year low of $11.05 and a 1 year high of $26.14. The stock has a 50-day moving average of $23.16. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 195.54 and a beta of 0.78. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.67 and a quick ratio of 1.46.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings data on Tuesday, July 30th. The medical research company reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.02. NeoGenomics had a net margin of 0.57% and a return on equity of 4.08%. The company had revenue of $101.71 million during the quarter, compared to analysts’ expectations of $97.32 million. During the same period in the previous year, the company earned $0.05 EPS. The business’s quarterly revenue was up 50.1% compared to the same quarter last year. On average, research analysts predict that NeoGenomics will post 0.18 EPS for the current fiscal year.

In other NeoGenomics news, insider William Bonello sold 7,200 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $23.53, for a total value of $169,416.00. Following the transaction, the insider now owns 13,935 shares in the company, valued at approximately $327,890.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Raymond R. Hipp sold 150,000 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $22.41, for a total transaction of $3,361,500.00. Following the completion of the transaction, the director now owns 256,059 shares in the company, valued at approximately $5,738,282.19. The disclosure for this sale can be found here. 8.80% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. Yorktown Management & Research Co Inc lifted its holdings in NeoGenomics by 4.6% in the 2nd quarter. Yorktown Management & Research Co Inc now owns 18,300 shares of the medical research company’s stock worth $402,000 after buying an additional 800 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in NeoGenomics by 3.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 25,647 shares of the medical research company’s stock worth $562,000 after buying an additional 945 shares in the last quarter. Summit Creek Advisors LLC lifted its holdings in NeoGenomics by 0.3% in the 2nd quarter. Summit Creek Advisors LLC now owns 348,208 shares of the medical research company’s stock worth $7,640,000 after buying an additional 960 shares in the last quarter. Legal & General Group Plc lifted its holdings in NeoGenomics by 13.3% in the 4th quarter. Legal & General Group Plc now owns 11,964 shares of the medical research company’s stock worth $151,000 after buying an additional 1,405 shares in the last quarter. Finally, NEXT Financial Group Inc lifted its holdings in NeoGenomics by 200.0% in the 2nd quarter. NEXT Financial Group Inc now owns 2,700 shares of the medical research company’s stock worth $59,000 after buying an additional 1,800 shares in the last quarter. Hedge funds and other institutional investors own 84.07% of the company’s stock.

NeoGenomics Company Profile

NeoGenomics, Inc, together with its subsidiaries, operates a network of cancer-focused genetic testing laboratories in the United States; and laboratories in Switzerland and Singapore. It operates in two segments, Clinical Services and Pharma Services. The company's laboratories provide genetic and molecular testing services to hospitals, pathologists, oncologists, urologists, other clinicians and researchers, pharmaceutical firms, academic centers, and other clinical laboratories.

See Also: How is the Producer Price Index calculated?

Analyst Recommendations for NeoGenomics (NASDAQ:NEO)

Receive News & Ratings for NeoGenomics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NeoGenomics and related companies with MarketBeat.com's FREE daily email newsletter.