NeoGenomics (NASDAQ:NEO) Downgraded by Leerink Partners to “Market Perform”

Leerink Partners lowered shares of NeoGenomics (NASDAQ:NEO) from an outperform rating to a market perform rating in a research note released on Wednesday, MarketBeat.com reports. Leerink Partners currently has $9.00 price objective on the medical research company’s stock, down from their previous price objective of $25.00.

A number of other equities analysts also recently weighed in on the company. Benchmark downgraded NeoGenomics from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Needham & Company LLC dropped their price target on shares of NeoGenomics from $18.00 to $8.50 and set a “buy” rating on the stock in a research note on Tuesday. Bank of America reduced their price objective on NeoGenomics from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. The Goldman Sachs Group reduced their price target on NeoGenomics from $17.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Finally, Piper Sandler dropped their price objective on NeoGenomics from $21.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.50.

NeoGenomics Price Performance

NEO stock opened at $7.70 on Wednesday. NeoGenomics has a one year low of $6.08 and a one year high of $19.12. The firm has a 50-day moving average of $9.40 and a two-hundred day moving average of $13.27. The firm has a market capitalization of $990.66 million, a PE ratio of -12.42 and a beta of 1.41. The company has a current ratio of 1.98, a quick ratio of 1.91 and a debt-to-equity ratio of 0.38.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Tuesday, April 29th. The medical research company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. The firm had revenue of $168.04 million during the quarter, compared to analyst estimates of $171.38 million. During the same period in the prior year, the business posted ($0.02) EPS. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, analysts forecast that NeoGenomics will post -0.2 earnings per share for the current year.

Institutional Trading of NeoGenomics

Large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of NeoGenomics by 1.4% in the fourth 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 during the last quarter. Greenhouse Funds LLLP grew its stake in shares of NeoGenomics by 5.3% in the fourth quarter. Greenhouse Funds LLLP now owns 4,701,897 shares of the medical research company’s stock worth $77,487,000 after acquiring an additional 237,491 shares during the last quarter. Dimensional Fund Advisors LP raised 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 valued at $56,645,000 after purchasing an additional 78,211 shares during the last quarter. First Light Asset Management LLC grew its position in NeoGenomics by 3.0% in 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 purchasing an additional 91,030 shares during the last quarter. Finally, Segall Bryant & Hamill LLC raised its position in shares of NeoGenomics by 11.2% during the first quarter. Segall Bryant & Hamill LLC now owns 2,350,746 shares of the medical research company’s stock valued at $22,309,000 after buying an additional 236,924 shares during the last quarter. 98.50% of the stock is 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.