NeoGenomics (NASDAQ:NEO) Given a $30.00 Price Target at Leerink Swann

Leerink Swann set a $30.00 price objective on NeoGenomics (NASDAQ:NEO) in a report published on Wednesday morning, TipRanks reports. The brokerage currently has a buy rating on the medical research company’s stock.

Other equities research analysts also recently issued reports about the stock. Benchmark set a $27.00 target price on shares of NeoGenomics and gave the stock a buy rating in a research note on Wednesday. BidaskClub raised shares of NeoGenomics from a hold rating to a buy rating in a research note on Friday, July 19th. Raymond James upped their target price on shares of NeoGenomics from $23.00 to $27.00 and gave the stock an outperform rating in a research note on Wednesday. ValuEngine downgraded shares of NeoGenomics from a strong-buy rating to a buy rating in a research note on Thursday. Finally, Zacks Investment Research downgraded shares of NeoGenomics from a buy rating to a hold rating in a research note on Thursday, July 25th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $23.78.

NEO traded down $0.43 during trading hours on Wednesday, hitting $25.42. 1,383,441 shares of the company’s stock were exchanged, compared to its average volume of 693,565. NeoGenomics has a 12-month low of $11.05 and a 12-month high of $26.14. The stock’s 50 day moving average price is $23.16. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 195.54 and a beta of 0.96. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.46 and a current ratio of 4.67.

NeoGenomics (NASDAQ:NEO) last announced its earnings results on Tuesday, July 30th. The medical research company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.02. NeoGenomics had a net margin of 0.57% and a return on equity of 4.97%. The firm had revenue of $101.71 million for the quarter, compared to the consensus estimate of $97.32 million. During the same period in the prior year, the firm earned $0.05 EPS. The firm’s revenue for the quarter was up 50.1% on a year-over-year basis. Analysts predict that NeoGenomics will post 0.17 earnings per share for the current fiscal year.

In other news, insider William Bonello sold 7,200 shares of the company’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 completion of 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 SEC, which is available at this link. Also, Director Raymond R. Hipp sold 150,000 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were 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 of the company’s stock, valued at approximately $5,738,282.19. The disclosure for this sale can be found here. Insiders own 8.80% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Yorktown Management & Research Co Inc boosted its holdings in shares of 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 valued at $402,000 after buying an additional 800 shares in the last quarter. Swiss National Bank boosted its holdings in shares of NeoGenomics by 2.3% in the 2nd quarter. Swiss National Bank now owns 167,200 shares of the medical research company’s stock valued at $3,668,000 after buying an additional 3,700 shares in the last quarter. Comerica Bank boosted its holdings in shares of NeoGenomics by 2.0% in the 2nd quarter. Comerica Bank now owns 95,102 shares of the medical research company’s stock valued at $2,273,000 after buying an additional 1,826 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of NeoGenomics by 33.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 36,908 shares of the medical research company’s stock valued at $810,000 after buying an additional 9,309 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its holdings in shares of NeoGenomics by 32.3% in the 2nd quarter. Candriam Luxembourg S.C.A. now owns 176,201 shares of the medical research company’s stock valued at $3,849,000 after buying an additional 43,000 shares in the last quarter. Institutional investors and hedge funds 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.

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Analyst Recommendations for NeoGenomics (NASDAQ:NEO)

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