TD Cowen Trims NeoGenomics (NASDAQ:NEO) Target Price to $20.00

NeoGenomics (NASDAQ:NEO) had its target price trimmed by TD Cowen from $21.00 to $20.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the medical research company’s stock.

NEO has been the topic of several other research reports. Craig Hallum began coverage on NeoGenomics in a report on Wednesday. They issued a buy rating and a $26.00 price objective on the stock. Needham & Company LLC cut their target price on shares of NeoGenomics from $24.00 to $19.00 and set a buy rating on the stock in a report on Tuesday. Benchmark reaffirmed a buy rating and issued a $18.00 target price on shares of NeoGenomics in a research note on Wednesday. The Goldman Sachs Group raised their price target on shares of NeoGenomics from $17.00 to $19.00 and gave the stock a buy rating in a report on Thursday, February 22nd. Finally, William Blair reaffirmed an outperform rating on shares of NeoGenomics in a research note on Wednesday, February 21st. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, NeoGenomics currently has an average rating of Moderate Buy and an average price target of $19.78.

NeoGenomics Stock Up 0.3 %

Shares of NEO opened at $13.96 on Wednesday. The company has a current ratio of 7.48, a quick ratio of 5.95 and a debt-to-equity ratio of 0.58. The business’s 50-day moving average price is $14.99 and its 200-day moving average price is $15.96. NeoGenomics has a twelve month low of $11.03 and a twelve month high of $21.22.

NeoGenomics (NASDAQ:NEO) last released its earnings results on Tuesday, February 20th. The medical research company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. The business had revenue of $155.55 million for the quarter, compared to analysts’ expectations of $152.90 million. NeoGenomics had a negative return on equity of 3.54% and a negative net margin of 13.79%. On average, analysts predict 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 NeoGenomics stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $14.96, for a total value of $38,701.52. Following the sale, the general counsel now directly owns 34,866 shares in the company, valued at approximately $521,595.36. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. BluePath Capital Management LLC purchased a new position in shares of NeoGenomics in the 3rd quarter valued at approximately $30,000. Burkett Financial Services LLC purchased a new position in shares of NeoGenomics in the 4th quarter valued at approximately $46,000. Quadrant Capital Group LLC lifted its stake in shares of NeoGenomics by 22.0% in 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 during the period. WINTON GROUP Ltd purchased a new position in NeoGenomics during the third quarter valued at $133,000. Finally, PNC Financial Services Group Inc. raised its stake in NeoGenomics by 27.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,434 shares of the medical research company’s stock valued at $136,000 after buying an additional 1,791 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

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.