SVB Leerink Trims NeoGenomics (NASDAQ:NEO) Target Price to $45.00

NeoGenomics (NASDAQ:NEO) had its price target reduced by SVB Leerink from $50.00 to $45.00 in a research report sent to investors on Wednesday, Price Targets.com reports. SVB Leerink currently has an outperform rating on the medical research company’s stock. SVB Leerink also issued estimates for NeoGenomics’ Q1 2022 earnings at ($0.20) EPS, Q2 2022 earnings at ($0.18) EPS, Q3 2022 earnings at ($0.18) EPS, Q4 2022 earnings at ($0.17) EPS, FY2022 earnings at ($0.73) EPS and FY2023 earnings at ($0.47) EPS.

Several other equities analysts have also recently issued reports on NEO. Stephens reduced their price target on shares of NeoGenomics from $60.00 to $53.00 and set an overweight rating on the stock in a research report on Friday, November 5th. Raymond James raised shares of NeoGenomics from a market perform rating to an outperform rating and set a $53.00 price objective on the stock in a research note on Thursday, October 14th. Morgan Stanley lowered shares of NeoGenomics from an overweight rating to an equal weight rating and dropped their price objective for the stock from $58.00 to $45.00 in a research note on Friday, November 5th. Needham & Company LLC dropped their price objective on shares of NeoGenomics from $48.00 to $41.00 and set a buy rating on the stock in a research note on Tuesday, December 7th. Finally, Cowen assumed coverage on shares of NeoGenomics in a research note on Thursday, December 16th. They set an outperform rating and a $42.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Buy and an average target price of $51.40.

NEO stock opened at $24.94 on Wednesday. The firm’s 50-day moving average price is $34.38 and its two-hundred day moving average price is $41.77. NeoGenomics has a 12-month low of $24.03 and a 12-month high of $61.57. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 69.28 and a beta of 0.63. The company has a current ratio of 7.66, a quick ratio of 7.42 and a debt-to-equity ratio of 0.47.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings data on Thursday, November 4th. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. NeoGenomics had a net margin of 10.08% and a negative return on equity of 1.33%. The firm had revenue of $121.30 million for the quarter, compared to analysts’ expectations of $125.09 million. During the same quarter in the previous year, the company earned $0.04 earnings per share. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. Equities analysts predict that NeoGenomics will post -0.41 EPS for the current year.

In other news, insider Douglas Matthew Brown sold 33,333 shares of the stock in a transaction on Tuesday, November 23rd. The shares were sold at an average price of $37.19, for a total value of $1,239,654.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kathryn B. Mckenzie sold 1,846 shares of the stock in a transaction on Tuesday, December 21st. The stock was sold at an average price of $35.00, for a total transaction of $64,610.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,513 shares of company stock valued at $2,532,622. 4.70% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Artisan Partners Limited Partnership lifted its position in NeoGenomics by 43.1% during the third quarter. Artisan Partners Limited Partnership now owns 6,931,041 shares of the medical research company’s stock valued at $334,353,000 after purchasing an additional 2,086,662 shares during the last quarter. Wellington Management Group LLP lifted its position in NeoGenomics by 36.7% during the third quarter. Wellington Management Group LLP now owns 7,585,848 shares of the medical research company’s stock valued at $365,942,000 after purchasing an additional 2,037,787 shares during the last quarter. Macquarie Group Ltd. lifted its position in NeoGenomics by 134.3% during the third quarter. Macquarie Group Ltd. now owns 2,042,456 shares of the medical research company’s stock valued at $98,528,000 after purchasing an additional 1,170,745 shares during the last quarter. Schroder Investment Management Group bought a new position in NeoGenomics during the third quarter valued at $48,625,000. Finally, Blue Water Life Science Advisors LLC bought a new position in NeoGenomics during the second quarter valued at $31,719,000. Hedge funds and other institutional investors own 93.29% of the company’s stock.

NeoGenomics Company Profile

NeoGenomics, Inc is a clinical laboratory company, which engages in cancer genetics diagnostic testing and pharma services. It operates through the Clinical Services and Pharma Services segments. The Clinical Services segment offers cancer testing services to community-based pathologists, hospitals, academic centers, and oncology groups.

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Analyst Recommendations for NeoGenomics (NASDAQ:NEO)

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