According to a report from Bloomberg.com, NeoGenomics, Inc. (NASDAQ:NEO) has received an average recommendation of “Moderate Buy” from eleven research firms that cover the company. Out of these firms, three analysts have given the stock a hold recommendation, while eight have recommended buying the stock. The latest 1-year price objective among brokerages is $19.18.
As of Monday morning, NEO stock opened at $12.30. The company’s 50-day moving average price is $14.35, while its 200-day moving average price is $15.89. NeoGenomics has a debt-to-equity ratio of 0.56 and shows favorable liquidity with a quick ratio of 5.90 and current ratio of 6.16.
Over the past year, NeoGenomics has experienced a range in stock prices between its fifty-two week low of $6.00 and its fifty-two week high of $20.54. With a market capitalization of $1.57 billion, the company carries a specific set of financial metrics that investors should consider.
NeoGenomics operates multiple cancer-focused testing laboratories in the United States, Europe, and Asia through two distinct segments—Clinical Services and Pharma Services. The company provides testing services to a diverse customer base including hospitals, reference labs, physicians specializing in pathology and oncology, as well as pharmaceutical companies and researchers.
In terms of recent financial performance, NeoGenomics reported its quarterly earnings results on August 8th this year, surpassing analysts’ consensus estimates by reporting earnings per share (EPS) of ($0.09), which was $0.06 better than expected – beating expectations can be seen as positive news for investors.
During the quarter in review, NeoGenomics generated revenue totaling approximately $146.92 million compared to a market consensus estimate that stood at $138.22 million—an encouraging sign for the company. However, it is important to note that NeoGenomics posted a negative return on equity of 6.36% and a negative net margin of 20.79%. These figures highlight certain challenges the company must address in order to achieve sustained profitability.
Moving forward, equities research analysts expect NeoGenomics to post an EPS of -0.44 for the current fiscal year. This estimate provides an insight into what investors can anticipate in terms of future financial performance.
In conclusion, NeoGenomics has garnered positive attention from research firms, with a “Moderate Buy” recommendation due to its cancer-focused testing laboratories and expansive customer base. While the stock currently appears undervalued at $12.30, it is important for investors to carefully analyze the company’s financials and market conditions before making any investment decisions based on these recommendations or price targets provided by brokerages.
NeoGenomics Attracts Attention from Analysts and Institutional Investors, Driving Interest in the Company’s Potential
NeoGenomics, a renowned player in the medical research industry, has attracted the attention of several research analysts lately. Their reports provide valuable insights into the company’s performance and potential growth prospects. Analyst recommendations play a crucial role for investors who seek guidance on making informed decisions about their investment portfolios.
One prominent analyst firm, William Blair, recently reaffirmed NeoGenomics as an “outperform,” indicating that they anticipate above-average returns from the company’s shares. This positive view by reputable experts certainly adds to the growing interest in NeoGenomics among investors.
On the other hand, Morgan Stanley revised its price objective for NeoGenomics from $19.00 to $18.00 and assigned an “equal weight” rating. This implies that Morgan Stanley does not expect significant outperformance or underperformance from the stock compared to the overall market.
Another notable analyst firm, Benchmark, also adjusted its price objective for NeoGenomics from $20.00 to $18.00 but maintained a “buy” rating for the company. This suggests that Benchmark believes there is still substantial upside potential in NeoGenomics shares despite lowering their target price.
Stephens took an interesting stance by upgrading their rating on NeoGenomics from “equal weight” to “overweight.” Additionally, they raised their price objective for the company from $16.00 to $18.00. Such accolades indicate Stephens’ confidence in NeoGenomics’ ability to outperform expectations and generate strong returns for its shareholders.
Lastly, StockNews.com initiated coverage on NeoGenomics with a “hold” rating. Although it may seem less enthusiastic compared to other analysts’ recommendations, this initiation signifies StockNews.com’s acknowledgment of the company’s significance within the market.
The opinions expressed by these research analysts have undoubtedly caught investors’ attention and sparked discussions surrounding NeoGenomics’ future trajectory.
Furthermore, institutional investors and hedge funds have demonstrated increased activity regarding their positions in NeoGenomics. For instance, Versant Capital Management Inc escalated its stake by an impressive 206.7% during the first quarter. Coppell Advisory Solutions LLC also entered the picture during the second quarter, acquiring a new stake in NeoGenomics.
Similarly, Captrust Financial Advisors grew their holdings in NeoGenomics by 17.1% in the second quarter, followed by Quadrant Capital Group LLC’s substantial increase of 83.4% during the fourth quarter.
These moves indicate that institutional investors and hedge funds are recognizing the potential of NeoGenomics’ stock and positioning themselves to benefit from its anticipated growth.
It is worth noting that hedge funds and other institutional investors currently own a significant portion, specifically 91.36%, of NeoGenomics’ stock. This level of ownership demonstrates market confidence in the company’s outlook and suggests that professional investors deem it a worthwhile investment opportunity.
As October progresses, investors will closely monitor any updates or developments regarding NeoGenomics’ operations and financial performance. The varying analyst ratings and increased activity among institutional investors contribute to a sense of intrigue around this medical research company.
Investors must conduct thorough due diligence before making any investment decisions based on these recommendations and activities. Market dynamics are ever-changing, and diligent analysis can help navigate uncertain terrain as they work towards achieving their financial goals