Scotiabank Analysts Give NeoGenomics (NEO) a $22.00 Price Target

Scotiabank set a $22.00 price target on NeoGenomics (NASDAQ:NEO) in a report issued on Wednesday morning. The brokerage currently has an outperform rating on the medical research company’s stock.

A number of other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of NeoGenomics from a hold rating to a sell rating in a research note on Thursday, October 5th. BTIG Research lowered shares of NeoGenomics from a buy rating to a neutral rating in a research note on Monday, September 11th. BidaskClub lowered shares of NeoGenomics from a buy rating to a hold rating in a research note on Thursday, December 21st. Janney Montgomery Scott reaffirmed a buy rating on shares of NeoGenomics in a research note on Thursday, October 26th. Finally, CIBC set a $19.00 price target on shares of NeoGenomics and gave the stock a neutral rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $15.83.

Shares of NeoGenomics (NASDAQ:NEO) opened at $8.73 on Wednesday. The firm has a market cap of $689.91, a P/E ratio of -24.94, a PEG ratio of 3.46 and a beta of 0.84. NeoGenomics has a one year low of $7.12 and a one year high of $11.63. The company has a quick ratio of 1.99, a current ratio of 2.14 and a debt-to-equity ratio of 0.57.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings results on Wednesday, October 25th. The medical research company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. The company had revenue of $63.05 million during the quarter, compared to analyst estimates 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 prior year, the business posted $0.04 EPS. research analysts anticipate that NeoGenomics will post 0.04 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in NEO. Janus Henderson Group PLC acquired a new stake in NeoGenomics during the second quarter valued at approximately $20,651,000. Russell Investments Group Ltd. lifted its stake in NeoGenomics by 25.0% during the third quarter. Russell Investments Group Ltd. now owns 2,496,623 shares of the medical research company’s stock valued at $27,786,000 after purchasing an additional 499,913 shares during the last quarter. Columbus Circle Investors acquired a new stake in NeoGenomics during the third quarter valued at approximately $4,779,000. Segall Bryant & Hamill LLC lifted its stake in NeoGenomics by 318.0% during the third quarter. Segall Bryant & Hamill LLC now owns 374,068 shares of the medical research company’s stock valued at $4,163,000 after purchasing an additional 284,572 shares during the last quarter. Finally, Penn Capital Management Co. Inc. acquired a new stake in NeoGenomics during the second quarter valued at approximately $2,502,000. 83.43% of the stock is owned by institutional investors and hedge funds.

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NeoGenomics Company Profile

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.

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