NeoGenomics’ (NEO) “Buy” Rating Reiterated at Needham & Company LLC

NeoGenomics (NASDAQ:NEO)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a report released on Wednesday, Benzinga reports. They presently have a $19.00 target price on the medical research company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 27.26% from the stock’s current price.

A number of other research analysts have also issued reports on NEO. Benchmark reissued a “buy” rating and set a $18.00 target price on shares of NeoGenomics in a research note on Tuesday, September 24th. Stephens restated an “overweight” rating and set a $19.00 price objective on shares of NeoGenomics in a research note on Tuesday, July 30th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.89.

NeoGenomics Stock Performance

Shares of NASDAQ NEO opened at $14.93 on Wednesday. The stock has a market capitalization of $1.91 billion, a P/E ratio of -24.08 and a beta of 1.19. The firm’s 50-day moving average price is $14.72 and its two-hundred day moving average price is $14.72. NeoGenomics has a 52-week low of $12.77 and a 52-week high of $21.22. The company has a quick ratio of 1.93, a current ratio of 2.01 and a debt-to-equity ratio of 0.37.

Hedge Funds Weigh In On NeoGenomics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in NeoGenomics by 107.2% in the 2nd quarter. Blue Trust Inc. now owns 2,331 shares of the medical research company’s stock worth $32,000 after purchasing an additional 1,206 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of NeoGenomics during the 2nd quarter worth approximately $57,000. Banque Cantonale Vaudoise lifted its stake in NeoGenomics by 10.2% during the second quarter. Banque Cantonale Vaudoise now owns 17,575 shares of the medical research company’s stock worth $244,000 after purchasing an additional 1,633 shares during the period. Gabelli Funds LLC acquired a new stake in NeoGenomics in the 1st quarter valued at $283,000. Finally, SG Americas Securities LLC acquired a new stake in shares of NeoGenomics in the 3rd quarter valued at $312,000. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

About NeoGenomics

NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States and the United Kingdom. It operates through Clinical Services and Advanced Diagnostics segments. The company offers testing services to hospitals, academic centers, pathologists, oncologists, clinicians, pharmaceutical companies, and clinical laboratories.