NeoGenomics (NASDAQ:NEO) Price Target Cut to $8.50 by Analysts at Needham & Company LLC

NeoGenomics (NASDAQ:NEO) had its price target lowered by Needham & Company LLC from $18.00 to $8.50 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the medical research company’s stock.

Several other equities analysts have also recently weighed in on NEO. Benchmark cut NeoGenomics from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Piper Sandler decreased their target price on NeoGenomics from $21.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Bank of America reduced their price target on shares of NeoGenomics from $19.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Finally, The Goldman Sachs Group reduced their price objective on NeoGenomics from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $18.35.

NeoGenomics Stock Down 34.0 %

Shares of NEO opened at $6.58 on Tuesday. The firm has a market cap of $846.56 million, a P/E ratio of -10.61 and a beta of 1.41. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.91 and a current ratio of 1.98. NeoGenomics has a 52 week low of $6.40 and a 52 week high of $19.12. The firm’s 50-day simple moving average is $9.64 and its 200 day simple moving average is $13.40.

NeoGenomics (NASDAQ:NEO) last posted its earnings results on Tuesday, April 29th. The medical research company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.06). NeoGenomics had a negative net margin of 11.92% and a negative return on equity of 2.10%. The firm had revenue of $168.04 million during the quarter, compared to analyst estimates of $171.38 million. During the same period in the previous year, the company posted ($0.02) EPS. NeoGenomics’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, analysts forecast that NeoGenomics will post -0.2 earnings per share for the current year.

Institutional Trading of NeoGenomics

A number of large investors have recently bought and sold shares of NEO. Vanguard Group Inc. boosted its position in shares of NeoGenomics by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 14,239,887 shares of the medical research company’s stock valued at $234,673,000 after purchasing an additional 195,793 shares in the last quarter. Greenhouse Funds LLLP lifted its stake in NeoGenomics by 5.3% in the fourth quarter. Greenhouse Funds LLLP now owns 4,701,897 shares of the medical research company’s stock valued at $77,487,000 after buying an additional 237,491 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of NeoGenomics by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,436,858 shares of the medical research company’s stock worth $56,645,000 after buying an additional 78,211 shares in the last quarter. First Light Asset Management LLC increased its stake in shares of NeoGenomics by 3.0% in the 4th quarter. First Light Asset Management LLC now owns 3,167,585 shares of the medical research company’s stock valued at $52,202,000 after acquiring an additional 91,030 shares in the last quarter. Finally, Segall Bryant & Hamill LLC lifted its position in shares of NeoGenomics by 11.6% during the 4th quarter. Segall Bryant & Hamill LLC now owns 2,113,822 shares of the medical research company’s stock valued at $34,836,000 after acquiring an additional 220,415 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

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.