NeoGenomics (NASDAQ:NEO) Price Target Cut to $18.00 by Analysts at Piper Sandler

NeoGenomics (NASDAQ:NEO) had its price target reduced by analysts at Piper Sandler from $21.00 to $18.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the medical research company’s stock. Piper Sandler’s price objective would indicate a potential upside of 69.24% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. The Goldman Sachs Group cut their price target on shares of NeoGenomics from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Bank of America lowered their price target on shares of NeoGenomics from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Jefferies Financial Group initiated coverage on NeoGenomics in a report on Tuesday, December 10th. They set a “buy” rating and a $22.00 target price for the company. Needham & Company LLC decreased their price objective on NeoGenomics from $19.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Finally, Benchmark lowered shares of NeoGenomics from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, NeoGenomics currently has an average rating of “Moderate Buy” and an average target price of $19.60.

NeoGenomics Stock Performance

NEO traded down $0.24 during trading on Wednesday, hitting $10.64. The stock had a trading volume of 288,178 shares, compared to its average volume of 1,167,679. The company has a 50 day moving average price of $14.87 and a 200-day moving average price of $15.37. NeoGenomics has a one year low of $10.62 and a one year high of $19.11. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of -17.17 and a beta of 1.23. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.98 and a quick ratio of 1.91.

NeoGenomics (NASDAQ:NEO) last posted its earnings results on Tuesday, February 18th. The medical research company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.05). The firm had revenue of $172.00 million during the quarter, compared to the consensus estimate of $173.40 million. NeoGenomics had a negative net margin of 11.92% and a negative return on equity of 2.10%. As a group, research analysts predict that NeoGenomics will post -0.2 EPS for the current year.

Institutional Trading of NeoGenomics

A number of institutional investors have recently modified their holdings of NEO. Vanguard Group Inc. lifted its holdings in NeoGenomics by 1.4% in 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. State Street Corp grew its holdings in NeoGenomics by 1.6% during the 3rd quarter. State Street Corp now owns 4,958,582 shares of the medical research company’s stock worth $73,139,000 after acquiring an additional 80,449 shares in the last quarter. Greenhouse Funds LLLP lifted its stake in NeoGenomics by 5.3% during the fourth quarter. Greenhouse Funds LLLP now owns 4,701,897 shares of the medical research company’s stock worth $77,487,000 after purchasing an additional 237,491 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in 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 during the last quarter. Finally, First Light Asset Management LLC boosted its position in NeoGenomics by 3.0% during the 4th quarter. First Light Asset Management LLC now owns 3,167,585 shares of the medical research company’s stock worth $52,202,000 after acquiring an additional 91,030 shares during the period. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

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.