NeoGenomics (NASDAQ:NEO) Price Target Cut to $16.00 by Analysts at Bank of America

NeoGenomics (NASDAQ:NEO) had its price objective decreased by Bank of America from $19.00 to $16.00 in a research note released on Wednesday morning,Benzinga reports. Bank of America currently has a neutral rating on the medical research company’s stock.

Several other equities analysts also recently issued reports on NEO. Benchmark downgraded NeoGenomics from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. The Goldman Sachs Group decreased their price target on NeoGenomics from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Jefferies Financial Group began coverage on shares of NeoGenomics in a research note on Tuesday, December 10th. They set a “buy” rating and a $22.00 price objective on the stock. Finally, Needham & Company LLC decreased their target price on shares of NeoGenomics from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, NeoGenomics presently has an average rating of “Moderate Buy” and a consensus price target of $19.80.

NeoGenomics Price Performance

Shares of NASDAQ NEO opened at $12.72 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.99 and a quick ratio of 1.91. The firm has a market capitalization of $1.63 billion, a PE ratio of -20.85 and a beta of 1.23. NeoGenomics has a 1-year low of $10.69 and a 1-year high of $19.11. The business’s fifty day moving average price is $15.40 and its two-hundred day moving average price is $15.51.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings data on Tuesday, February 18th. The medical research company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. The firm had revenue of $172.00 million during the quarter, compared to the consensus estimate of $173.40 million. On average, research analysts expect that NeoGenomics will post -0.16 EPS for the current year.

Institutional Investors Weigh In On NeoGenomics

Hedge funds and other institutional investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. acquired a new position in shares of NeoGenomics in the 4th quarter worth approximately $26,000. Versant Capital Management Inc boosted its holdings 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 worth $30,000 after buying an additional 1,142 shares in the last quarter. Quarry LP acquired a new position in NeoGenomics in the third quarter worth approximately $40,000. Blue Trust Inc. increased its holdings in shares of NeoGenomics by 42.3% in the third quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock valued at $46,000 after buying an additional 987 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its position in shares of NeoGenomics by 788.7% during the 4th quarter. Sterling Capital Management LLC now owns 3,706 shares of the medical research company’s stock valued at $61,000 after acquiring an additional 3,289 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

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.