NeoGenomics (NASDAQ:NEO) Price Target Lowered to $18.00 at The Goldman Sachs Group

NeoGenomics (NASDAQ:NEO) had its target price reduced by The Goldman Sachs Group from $20.00 to $18.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the medical research company’s stock.

Several other equities research analysts also recently weighed in on the company. Bank of America increased their price target on NeoGenomics from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Benchmark lowered NeoGenomics from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Jefferies Financial Group started coverage on shares of NeoGenomics in a research note on Tuesday, December 10th. They set a “buy” rating and a $22.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 price target on shares of NeoGenomics in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, NeoGenomics currently has an average rating of “Moderate Buy” and an average price target of $20.20.

NeoGenomics Stock Up 0.9 %

Shares of NEO opened at $15.18 on Tuesday. The company has a quick ratio of 1.91, a current ratio of 1.99 and a debt-to-equity ratio of 0.37. NeoGenomics has a 52-week low of $12.13 and a 52-week high of $19.11. The company has a market cap of $1.95 billion, a PE ratio of -24.88 and a beta of 1.24. The business has a fifty day moving average of $16.53 and a 200 day moving average of $15.72.

NeoGenomics (NASDAQ:NEO) last released its earnings results on Tuesday, November 5th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. The firm had revenue of $167.80 million during the quarter, compared to analyst estimates of $167.00 million. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. The business’s revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.06) EPS. On average, sell-side analysts expect that NeoGenomics will post -0.16 EPS for the current year.

Insiders Place Their Bets

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 5,175 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $15.36, for a total transaction of $79,488.00. Following the completion of the sale, the general counsel now owns 37,129 shares in the company, valued at $570,301.44. This represents a 12.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Fernwood Investment Management LLC boosted its position 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 valued at $1,320,000 after purchasing an additional 900 shares in the last quarter. FMR LLC boosted its holdings in shares of NeoGenomics by 7.6% in the 3rd quarter. FMR LLC now owns 13,255 shares of the medical research company’s stock valued at $196,000 after buying an additional 931 shares in the last quarter. Blue Trust Inc. grew its position in shares of NeoGenomics by 42.3% in the 3rd quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock worth $46,000 after buying an additional 987 shares during the last quarter. KBC Group NV raised its stake in shares of NeoGenomics by 33.1% during the 3rd quarter. KBC Group NV now owns 4,530 shares of the medical research company’s stock worth $67,000 after acquiring an additional 1,127 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in NeoGenomics by 174.9% during the fourth quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 1,142 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.