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

NeoGenomics (NASDAQ:NEO) had its price objective trimmed by Needham & Company LLC from $24.00 to $19.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the medical research company’s stock.

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

NeoGenomics Stock Performance

Shares of NEO opened at $15.30 on Tuesday. NeoGenomics has a 12-month low of $11.03 and a 12-month high of $21.22. The stock’s fifty day simple moving average is $14.92 and its 200-day simple moving average is $15.97. The company has a quick ratio of 5.95, a current ratio of 7.48 and a debt-to-equity ratio of 0.58.

NeoGenomics (NASDAQ:NEO) last released its earnings results on Tuesday, February 20th. The medical research company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.05. NeoGenomics had a negative return on equity of 3.54% and a negative net margin of 13.79%. The firm had revenue of $155.55 million for the quarter, compared to analyst estimates of $152.90 million. Research analysts predict that NeoGenomics will post -0.19 earnings per share for the current fiscal 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 transaction of $38,701.52. Following the completion of the transaction, 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 Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of NeoGenomics

Hedge funds have recently added to or reduced their stakes in the company. BluePath Capital Management LLC acquired a new stake in NeoGenomics during the 3rd quarter worth approximately $30,000. Burkett Financial Services LLC acquired a new stake in NeoGenomics during the 4th quarter worth approximately $46,000. Quadrant Capital Group LLC lifted its holdings in NeoGenomics by 22.0% during the 4th quarter. Quadrant Capital Group LLC now owns 4,900 shares of the medical research company’s stock worth $79,000 after purchasing an additional 883 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in NeoGenomics during the 3rd quarter worth approximately $133,000. Finally, PNC Financial Services Group Inc. lifted 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 purchasing an additional 1,791 shares during the last quarter. 98.50% of the stock is 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.