NeoGenomics (NEO) Given a $19.00 Price Target at CIBC

CIBC set a $19.00 price objective on NeoGenomics (NASDAQ:NEO) in a research report sent to investors on Wednesday morning. The brokerage currently has a neutral rating on the medical research company’s stock.

Several other research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of NeoGenomics from a hold rating to a sell rating in a report on Thursday, October 5th. BTIG Research cut shares of NeoGenomics from a buy rating to a neutral rating in a report on Monday, September 11th. Janney Montgomery Scott reaffirmed a buy rating on shares of NeoGenomics in a report on Thursday, October 26th. Finally, BidaskClub cut shares of NeoGenomics from a strong-buy rating to a buy rating in a report on Wednesday, October 18th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $15.83.

Shares of NeoGenomics (NEO) traded up $0.01 during trading on Wednesday, reaching $8.58. 124,166 shares of the company’s stock traded hands, compared to its average volume of 200,633. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.14 and a quick ratio of 1.99. The stock has a market capitalization of $689.91, a PE ratio of -24.51, a PEG ratio of 3.52 and a beta of 0.84. NeoGenomics has a twelve month low of $7.12 and a twelve month high of $11.63.

NeoGenomics (NASDAQ:NEO) last issued its earnings results on Wednesday, October 25th. The medical research company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $63.05 million during the quarter, compared to analysts’ expectations of $63.11 million. NeoGenomics had a negative net margin of 4.78% and a positive return on equity of 3.97%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.04 earnings per share. research analysts forecast that NeoGenomics will post 0.04 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its stake in shares of NeoGenomics by 79.2% in the second quarter. Goldman Sachs Group Inc. now owns 30,678 shares of the medical research company’s stock worth $275,000 after acquiring an additional 13,561 shares during the period. Uniplan Investment Counsel Inc. grew its stake in shares of NeoGenomics by 7.1% in the third quarter. Uniplan Investment Counsel Inc. now owns 839,310 shares of the medical research company’s stock worth $9,341,000 after acquiring an additional 55,506 shares during the period. Columbus Circle Investors bought a new stake in shares of NeoGenomics in the third quarter worth approximately $4,779,000. PEAK6 Investments L.P. bought a new stake in shares of NeoGenomics in the third quarter worth approximately $592,000. Finally, Suntrust Banks Inc. grew its stake in shares of NeoGenomics by 16.9% in the second quarter. Suntrust Banks Inc. now owns 36,947 shares of the medical research company’s stock worth $330,000 after acquiring an additional 5,330 shares during the period. Hedge funds and other institutional investors own 83.43% of the company’s stock.

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About NeoGenomics

NeoGenomics, Inc is an operator of a network of cancer-focused genetic testing laboratories. The Company operates in Laboratory Testing Segment. This segment delivers testing services to hospitals, pathologists, oncologists, other clinicians and researchers. It has laboratory locations in Ft. Myers and Tampa, Florida; Aliso Viejo, Fresno, Irvine, and West Sacramento, California; Houston, Texas and Nashville, and Tennessee.

Analyst Recommendations for NeoGenomics (NASDAQ:NEO)

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