NeoGenomics (NASDAQ:NEO) Price Target Cut to $19.00 by Analysts at Needham & Company LLC

NeoGenomics (NASDAQ:NEO) had its price objective dropped by investment analysts at Needham & Company LLC from $24.00 to $19.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the medical research company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 36.10% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. Piper Sandler lifted their target price on NeoGenomics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, February 26th. The Goldman Sachs Group raised their target price on NeoGenomics from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Finally, William Blair reiterated an “outperform” rating on shares of NeoGenomics in a research report on Wednesday, February 21st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $19.78.

NeoGenomics Stock Up 0.3 %

Shares of NeoGenomics stock opened at $13.96 on Tuesday. The stock has a market capitalization of $1.78 billion, a P/E ratio of -19.94 and a beta of 1.10. NeoGenomics has a 12-month low of $11.03 and a 12-month high of $21.22. The company has a quick ratio of 5.95, a current ratio of 6.20 and a debt-to-equity ratio of 0.57. The stock has a 50 day moving average price of $14.99 and a two-hundred day moving average price of $15.96.

NeoGenomics (NASDAQ:NEO) last released its earnings results on Tuesday, February 20th. The medical research company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. NeoGenomics had a negative return on equity of 4.13% and a negative net margin of 14.87%. The firm had revenue of $155.55 million for the quarter, compared to analyst estimates of $152.90 million. Equities analysts expect that NeoGenomics will post -0.2 earnings per share for the current year.

Insider Transactions at NeoGenomics

In other news, General Counsel Alicia C. Olivo sold 2,587 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $14.96, for a total value of $38,701.52. Following the transaction, the general counsel now owns 34,866 shares of the company’s stock, valued at approximately $521,595.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of NeoGenomics

A number of institutional investors have recently bought and sold shares of NEO. BluePath Capital Management LLC bought a new stake in shares of NeoGenomics in the 3rd quarter valued at about $30,000. Burkett Financial Services LLC acquired a new stake in NeoGenomics during the 4th quarter worth $46,000. Quadrant Capital Group LLC lifted its holdings in shares of NeoGenomics by 22.0% during the 4th quarter. Quadrant Capital Group LLC now owns 4,900 shares of the medical research company’s stock valued at $79,000 after purchasing an additional 883 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in NeoGenomics by 27.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,434 shares of the medical research company’s stock worth $136,000 after buying an additional 1,791 shares during the period. Finally, WINTON GROUP Ltd bought a new position in NeoGenomics in the third quarter valued at approximately $133,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

NeoGenomics Company Profile

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.