NeoGenomics (NASDAQ:NEO) Price Target Cut to $20.00

NeoGenomics (NASDAQ:NEO) had its price target dropped by investment analysts at TD Cowen from $21.00 to $20.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. TD Cowen’s price target would indicate a potential upside of 35.87% from the stock’s current price.

Other research analysts have also issued reports about the company. William Blair reissued an “outperform” rating on shares of NeoGenomics in a research report on Wednesday, February 21st. Craig Hallum started coverage on shares of NeoGenomics in a report on Wednesday. They set a “buy” rating and a $26.00 price target for the company. Piper Sandler boosted their price objective on shares of NeoGenomics from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, February 26th. Needham & Company LLC cut their target price on shares of NeoGenomics from $24.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Benchmark restated a “buy” rating and set a $18.00 price target on shares of NeoGenomics in a report on Wednesday. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.78.

NeoGenomics Price Performance

NASDAQ NEO opened at $14.72 on Wednesday. The company has a current ratio of 7.48, a quick ratio of 5.95 and a debt-to-equity ratio of 0.58. NeoGenomics has a 1 year low of $11.03 and a 1 year high of $21.22. The company has a market cap of $1.88 billion, a PE ratio of -22.30 and a beta of 1.12. The stock’s 50-day moving average price is $14.95 and its two-hundred day moving average price is $15.95.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings results on Tuesday, February 20th. The medical research company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. NeoGenomics had a negative net margin of 13.79% and a negative return on equity of 3.54%. The business had revenue of $155.55 million for the quarter, compared to analyst estimates of $152.90 million. On average, analysts predict that NeoGenomics will post -0.2 EPS for the current 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 stock was sold at an average price of $14.96, for a total transaction of $38,701.52. Following the transaction, the general counsel now owns 34,866 shares of the company’s stock, valued at approximately $521,595.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Redwood Investments LLC bought a new stake in NeoGenomics during the fourth quarter valued at about $2,399,000. Aigen Investment Management LP acquired a new position in shares of NeoGenomics during the 3rd quarter worth about $163,000. Legato Capital Management LLC bought a new stake in NeoGenomics during the 4th quarter valued at approximately $401,000. Illinois Municipal Retirement Fund acquired a new stake in NeoGenomics in the 3rd quarter valued at approximately $960,000. Finally, Brown Advisory Inc. increased its position in NeoGenomics by 25.0% in the 3rd quarter. Brown Advisory Inc. now owns 8,246,202 shares of the medical research company’s stock worth $101,428,000 after buying an additional 1,651,717 shares during the period. 98.50% of the stock is currently 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.