Raymond James Boosts NeoGenomics (NEO) Price Target to $21.00

NeoGenomics (NASDAQ:NEO) had its target price upped by Raymond James from $16.00 to $21.00 in a research note published on Wednesday morning. The firm currently has a buy rating on the medical research company’s stock.

NEO has been the topic of several other research reports. Leerink Swann started coverage on shares of NeoGenomics in a research note on Tuesday, August 21st. They issued an outperform rating and a $18.00 price objective on the stock. Craig Hallum upped their price objective on shares of NeoGenomics from $17.00 to $22.00 and gave the company a buy rating in a research note on Wednesday. First Analysis set a $16.00 price objective on shares of NeoGenomics and gave the company a buy rating in a research note on Tuesday, September 18th. BidaskClub lowered shares of NeoGenomics from a strong-buy rating to a buy rating in a research note on Friday, August 10th. Finally, Zacks Investment Research lowered shares of NeoGenomics from a hold rating to a sell rating in a research note on Thursday, July 19th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the stock. NeoGenomics currently has an average rating of Buy and a consensus price target of $20.00.

NeoGenomics stock traded down $0.52 during trading hours on Wednesday, hitting $17.98. The company had a trading volume of 1,143,384 shares, compared to its average volume of 797,033. The firm has a market cap of $1.47 billion, a PE ratio of 138.31 and a beta of -0.01. 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 fifty-two week low of $7.08 and a fifty-two week high of $19.04.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings data on Tuesday, October 30th. The medical research company reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.03. The firm had revenue of $69.10 million for the quarter, compared to analyst estimates of $66.13 million. NeoGenomics had a net margin of 1.70% and a return on equity of 3.15%. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.01 EPS. Equities analysts anticipate that NeoGenomics will post 0.11 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. acquired a new position in shares of NeoGenomics during the 2nd quarter worth $272,000. BlackRock Inc. increased its stake 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 worth $32,354,000 after purchasing an additional 12,147 shares during the last quarter. Artisan Partners Limited Partnership increased its stake 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 worth $28,515,000 after purchasing an additional 14,583 shares during the last quarter. Kopp Investment Advisors LLC increased its stake 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 worth $5,729,000 after purchasing an additional 39,495 shares during the last quarter. Finally, Emerald Advisers Inc. PA increased its stake 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 worth $18,019,000 after purchasing an additional 108,899 shares during the last quarter. Institutional investors own 81.54% 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. 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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Analyst Recommendations for NeoGenomics (NASDAQ:NEO)

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