NeoGenomics (NEO) Raised to Strong-Buy at Zacks Investment Research

NeoGenomics (NASDAQ:NEO) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Saturday. The brokerage currently has a $21.00 price objective on the medical research company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 16.80% from the stock’s current price.

According to Zacks, “NeoGenomics, Inc. is a high-complexity CLIA-certified clinical laboratory that specializes in cancer genetics diagnostic testing, the fastest growing segment of the laboratory industry. The company’s testing services include cytogenetics, fluorescence in-situ hybridization, flow cytometry, morphology studies, anatomic pathology and molecular genetic testing. Headquartered in Fort Myers, FL, NeoGenomics has labs in Nashville, TN, Irvine, CA and Fort Myers and services the needs of pathologists, oncologists, urologists, hospitals and other reference laboratories throughout the United States. “

NEO has been the topic of several other reports. BidaskClub upgraded shares of NeoGenomics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 27th. Benchmark set a $22.00 target price on shares of NeoGenomics and gave the stock a “buy” rating in a research note on Thursday. Raymond James increased their target price on shares of NeoGenomics from $16.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday. First Analysis set a $16.00 target price on shares of NeoGenomics and gave the stock a “buy” rating in a research note on Tuesday, September 18th. Finally, Leerink Swann began coverage on shares of NeoGenomics in a research note on Tuesday, August 21st. They issued an “outperform” rating and a $18.00 target price on the stock. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and three have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $20.00.

Shares of NEO stock opened at $17.98 on Friday. The company has a market cap of $1.51 billion, a P/E ratio of 299.67 and a beta of -0.02. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.59 and a current ratio of 1.74. NeoGenomics has a 12 month low of $7.08 and a 12 month high of $19.04.

NeoGenomics (NASDAQ:NEO) last posted its earnings results on Tuesday, October 30th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.03. NeoGenomics had a net margin of 1.70% and a return on equity of 3.15%. The business had revenue of $69.10 million for the quarter, compared to analysts’ expectations of $66.13 million. During the same period in the prior year, the company posted $0.01 EPS. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. As a group, research analysts forecast that NeoGenomics will post 0.1 EPS for the current year.

Institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. purchased a new stake in shares of NeoGenomics during the 2nd quarter valued at $272,000. BlackRock Inc. raised its position in shares of NeoGenomics by 0.3% during the 1st quarter. BlackRock Inc. now owns 3,964,943 shares of the medical research company’s stock valued at $32,354,000 after buying an additional 12,147 shares in the last quarter. Artisan Partners Limited Partnership raised its position in shares of NeoGenomics by 0.7% during the 2nd quarter. Artisan Partners Limited Partnership now owns 2,175,072 shares of the medical research company’s stock valued at $28,515,000 after buying an additional 14,583 shares in the last quarter. Kopp Investment Advisors LLC raised its position in shares of NeoGenomics by 9.9% during the 2nd quarter. Kopp Investment Advisors LLC now owns 436,972 shares of the medical research company’s stock valued at $5,729,000 after buying an additional 39,495 shares in the last quarter. Finally, Emerald Advisers Inc. PA raised its position in shares of NeoGenomics by 8.6% during the 2nd quarter. Emerald Advisers Inc. PA now owns 1,374,446 shares of the medical research company’s stock valued at $18,019,000 after buying an additional 108,899 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

About NeoGenomics

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

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