NeoGenomics (NEO) Receives a Buy from Needham


Needham analyst Michael Matson reiterated a Buy rating on NeoGenomics (NEO) today and set a price target of $55.00. The company’s shares closed last Wednesday at $41.87.

According to TipRanks.com, Matson is a 5-star analyst with an average return of 17.2% and a 69.4% success rate. Matson covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Zimmer Biomet Holdings, and Cardiovascular Systems.

NeoGenomics has an analyst consensus of Strong Buy, with a price target consensus of $61.67.

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Based on NeoGenomics’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $126 million and net profit of $15.42 million. In comparison, last year the company earned revenue of $107 million and had a net profit of $6.3 million.

Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NEO in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

NeoGenomics, Inc. is a clinical laboratory, which specializes in cancer genetics diagnostic testing and pharma services. It operates through the following two segments: Clinical and Pharma Services. The Clinical Services segment offers clinical cancer testing services to community-based pathologists. The Pharma Services segments supports pharmaceutical firms in their drug development programs by supporting various clinical trials and research. The Clinical Services Segment provides various clinical testing services to community-based pathology practices, hospital pathology labs and academic centers with reimbursement from various payers including client direct billing, commercial insurance, Medicare and other government payers, and patients. The Pharma Services segment: provides comprehensive testing services in supports pharmaceutical clients’ oncology programs from discovery to commercialization. Its services include cytogenetics, fluorescence in-situ hybridization, flow cytometry, immunohistochemistry, anatomic pathology and molecular genetic testing. The company was founded by Michael T. Dent on October 29, 1998 and is headquartered in Fort Myers, FL.

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