NeoGenomics (NASDAQ:NEO) Given New $19.00 Price Target at Needham & Company LLC

NeoGenomics (NASDAQ:NEO) had its target price decreased by equities research analysts at Needham & Company LLC from $24.00 to $19.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the medical research company’s stock. Needham & Company LLC’s price target indicates a potential upside of 35.42% from the stock’s current price.

Several other equities research analysts also recently weighed in on NEO. William Blair reissued an “outperform” rating on shares of NeoGenomics in a research note on Wednesday, February 21st. The Goldman Sachs Group increased their target price on shares of NeoGenomics from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Finally, Piper Sandler increased their target price on shares of NeoGenomics from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, February 26th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.88.

NeoGenomics Price Performance

Shares of NEO traded down $1.19 during mid-day trading on Tuesday, reaching $14.03. The stock had a trading volume of 875,096 shares, compared to its average volume of 911,223. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -19.96 and a beta of 1.10. NeoGenomics has a 12 month low of $11.03 and a 12 month high of $21.22. The business has a fifty day moving average of $15.05 and a 200 day moving average of $15.96. The company has a debt-to-equity ratio of 0.57, a quick ratio of 5.95 and a current ratio of 6.20.

NeoGenomics (NASDAQ:NEO) last issued its earnings results on Tuesday, February 20th. The medical research company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.05. NeoGenomics had a negative net margin of 14.87% and a negative return on equity of 4.13%. The firm had revenue of $155.55 million during the quarter, compared to analyst estimates of $152.90 million. Equities analysts predict that NeoGenomics will post -0.2 EPS for the current year.

Insider Activity

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

Institutional Investors Weigh In On NeoGenomics

A number of institutional investors have recently added to or reduced their stakes in the stock. BluePath Capital Management LLC acquired a new stake in NeoGenomics during the 3rd quarter worth $30,000. Burkett Financial Services LLC acquired a new stake in NeoGenomics during the 4th quarter worth $46,000. Quadrant Capital Group LLC boosted its stake in NeoGenomics by 22.0% during the 4th quarter. Quadrant Capital Group LLC now owns 4,900 shares of the medical research company’s stock worth $79,000 after purchasing an additional 883 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in NeoGenomics during the 3rd quarter worth $133,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of NeoGenomics by 27.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,434 shares of the medical research company’s stock worth $136,000 after acquiring an additional 1,791 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

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.