Needham & Company LLC Cuts NeoGenomics (NASDAQ:NEO) Price Target to $18.00

NeoGenomics (NASDAQ:NEO) had its target price decreased by Needham & Company LLC from $19.00 to $18.00 in a report issued on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the medical research company’s stock.

Other equities research analysts have also recently issued reports about the company. Bank of America lifted their target price on NeoGenomics from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Jefferies Financial Group began coverage on NeoGenomics in a research note on Tuesday, December 10th. They issued a “buy” rating and a $22.00 target price for the company. Benchmark cut NeoGenomics from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, The Goldman Sachs Group decreased their price objective on NeoGenomics from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $19.80.

NeoGenomics Trading Down 6.4 %

NEO stock opened at $11.10 on Wednesday. The business has a fifty day moving average price of $15.28 and a 200 day moving average price of $15.49. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -17.90 and a beta of 1.23. NeoGenomics has a fifty-two week low of $10.69 and a fifty-two week high of $19.11. 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 released 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 analyst estimates of $173.40 million. NeoGenomics had a negative net margin of 11.92% and a negative return on equity of 2.10%. Analysts expect that NeoGenomics will post -0.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its holdings in NeoGenomics by 5.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 15,610 shares of the medical research company’s stock worth $257,000 after acquiring an additional 770 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in NeoGenomics by 6.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 13,339 shares of the medical research company’s stock worth $220,000 after acquiring an additional 863 shares in the last quarter. Fernwood Investment Management LLC lifted its holdings in NeoGenomics by 1.0% during the third quarter. Fernwood Investment Management LLC now owns 89,500 shares of the medical research company’s stock worth $1,320,000 after acquiring an additional 900 shares in the last quarter. FMR LLC lifted its holdings in NeoGenomics by 7.6% during the third quarter. FMR LLC now owns 13,255 shares of the medical research company’s stock worth $196,000 after acquiring an additional 931 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in NeoGenomics by 42.3% during the third quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock worth $46,000 after acquiring an additional 987 shares in the last quarter. 98.50% of the stock is currently owned by 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.