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

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

A number of other analysts also recently commented on NEO. William Blair reissued an outperform rating on shares of NeoGenomics in a report on Wednesday, February 21st. Piper Sandler raised their price objective on NeoGenomics from $18.00 to $20.00 and gave the company an overweight rating in a research note on Monday, February 26th. Needham & Company LLC decreased their target price on NeoGenomics from $24.00 to $19.00 and set a buy rating on the stock in a research report on Tuesday. Benchmark restated a buy rating and issued a $18.00 price target on shares of NeoGenomics in a research report on Wednesday. Finally, The Goldman Sachs Group boosted their price objective on shares of NeoGenomics from $17.00 to $19.00 and gave the stock a buy rating in a research report on Thursday, February 22nd. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $19.78.

NeoGenomics Stock Performance

NEO traded up $0.58 during trading on Thursday, hitting $15.30. The stock had a trading volume of 875,937 shares, compared to its average volume of 907,207. NeoGenomics has a twelve month low of $11.03 and a twelve month high of $21.22. The firm has a market capitalization of $1.95 billion, a P/E ratio of -23.18 and a beta of 1.12. The company has a debt-to-equity ratio of 0.58, a quick ratio of 5.95 and a current ratio of 7.48. The company’s 50-day moving average price is $14.92 and its 200 day moving average price is $15.97.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings results on Tuesday, February 20th. The medical research company reported ($0.02) earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts forecast that NeoGenomics will post -0.19 EPS for the current fiscal year.

Insider Transactions at NeoGenomics

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 2,587 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $14.96, for a total value of $38,701.52. Following the completion of the transaction, the general counsel now directly owns 34,866 shares in the company, valued at approximately $521,595.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On NeoGenomics

Institutional investors have recently bought and sold shares of the stock. Brown Advisory Inc. grew its position in NeoGenomics by 25.0% during the third quarter. Brown Advisory Inc. now owns 8,246,202 shares of the medical research company’s stock valued at $101,428,000 after acquiring an additional 1,651,717 shares during the period. First Light Asset Management LLC grew its holdings in shares of NeoGenomics by 29.6% during the 4th quarter. First Light Asset Management LLC now owns 3,926,756 shares of the medical research company’s stock worth $63,535,000 after purchasing an additional 897,843 shares during the period. Norges Bank acquired a new stake in NeoGenomics during the 4th quarter worth approximately $14,512,000. Schroder Investment Management Group raised its holdings in NeoGenomics by 26.7% in the third quarter. Schroder Investment Management Group now owns 2,513,307 shares of the medical research company’s stock valued at $30,914,000 after buying an additional 529,178 shares during the period. Finally, Jennison Associates LLC acquired a new position in NeoGenomics during the third quarter valued at approximately $6,176,000. 98.50% of the stock is currently owned by hedge funds and other 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.