NeoGenomics (NASDAQ:NEO) Price Target Lowered to $21.00 at BTIG Research

NeoGenomics (NASDAQ:NEO) had its price objective cut by BTIG Research from $23.00 to $21.00 in a research report released on Thursday morning, Benzinga reports. They currently have a buy rating on the medical research company’s stock.

NEO has been the subject of several other reports. William Blair reaffirmed an outperform rating on shares of NeoGenomics in a research report on Wednesday, February 21st. The Goldman Sachs Group upped their price target on NeoGenomics from $17.00 to $19.00 and gave the company a buy rating in a report on Thursday, February 22nd. Benchmark reissued a buy rating and set a $18.00 price objective on shares of NeoGenomics in a report on Wednesday, May 1st. Craig Hallum started coverage on shares of NeoGenomics in a report on Wednesday, May 1st. They issued a buy rating and a $26.00 target price for the company. Finally, TD Cowen cut their price target on shares of NeoGenomics from $21.00 to $20.00 and set a buy rating on the stock in a research note on Wednesday, May 1st. Three investment 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 stock has an average rating of Moderate Buy and an average price target of $19.78.

NeoGenomics Stock Up 3.9 %

Shares of NASDAQ:NEO opened at $15.30 on Thursday. 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 has a fifty-two week low of $11.03 and a fifty-two week high of $21.22. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -23.18 and a beta of 1.12. The firm’s 50 day moving average price is $14.92 and its 200 day moving average price is $16.00.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings data on Tuesday, February 20th. The medical research company reported ($0.02) earnings per share 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 analyst estimates of $152.90 million. NeoGenomics had a negative net margin of 13.79% and a negative return on equity of 3.54%. As a group, equities research analysts predict that NeoGenomics will post -0.19 earnings per share for the current fiscal year.

Insider Buying and Selling at NeoGenomics

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

Hedge Funds Weigh In On NeoGenomics

Several institutional investors have recently bought and sold shares of NEO. Brown Advisory Inc. increased its position in NeoGenomics by 25.0% during the 3rd quarter. Brown Advisory Inc. now owns 8,246,202 shares of the medical research company’s stock worth $101,428,000 after purchasing an additional 1,651,717 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of NeoGenomics by 17.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,643 shares of the medical research company’s stock valued at $315,000 after buying an additional 3,837 shares in the last quarter. BluePath Capital Management LLC acquired a new position in NeoGenomics during the third quarter worth $30,000. Mackenzie Financial Corp purchased a new position in NeoGenomics in the third quarter worth $199,000. Finally, Inspire Investing LLC purchased a new position in NeoGenomics in the third quarter worth $316,000. 98.50% of the stock is owned by institutional investors and hedge funds.

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.