NeoGenomics (NASDAQ:NEO) Price Target Cut to $21.00

NeoGenomics (NASDAQ:NEO) had its price target cut by research analysts at BTIG Research from $23.00 to $21.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the medical research company’s stock. BTIG Research’s target price points to a potential upside of 37.25% from the company’s previous close.

NEO has been the subject of several other research reports. Craig Hallum assumed coverage on shares of NeoGenomics in a research note on Wednesday. They set a “buy” rating and a $26.00 price target for the company. The Goldman Sachs Group raised their price target on shares of NeoGenomics from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Needham & Company LLC decreased their price target on shares of NeoGenomics from $24.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday. Benchmark reiterated a “buy” rating and issued a $18.00 price objective on shares of NeoGenomics in a research note on Wednesday. Finally, Piper Sandler lifted their price objective 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 equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.78.

NeoGenomics Stock Up 3.9 %

NASDAQ:NEO traded up $0.58 on Thursday, hitting $15.30. The stock had a trading volume of 875,937 shares, compared to its average volume of 907,207. 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 stock has a market cap of $1.95 billion, a P/E ratio of -23.18 and a beta of 1.12. NeoGenomics has a 1 year low of $11.03 and a 1 year high of $21.22. The firm’s fifty day simple moving average is $14.92 and its two-hundred day simple moving average 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 the consensus estimate 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 company had revenue of $155.55 million during the quarter, compared to analyst estimates of $152.90 million. Analysts predict that NeoGenomics will post -0.19 earnings per share for the current year.

Insider Buying and Selling at NeoGenomics

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 2,587 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were 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 of the company’s stock, valued at approximately $521,595.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Trading of NeoGenomics

A number of hedge funds have recently made changes to their positions in the stock. Redwood Investments LLC bought a new stake in NeoGenomics in the fourth quarter worth $2,399,000. Aigen Investment Management LP bought a new stake in NeoGenomics in the third quarter worth $163,000. Legato Capital Management LLC bought a new stake in NeoGenomics in the fourth quarter worth $401,000. Illinois Municipal Retirement Fund bought a new stake in NeoGenomics in the third quarter worth $960,000. Finally, Brown Advisory Inc. lifted its stake in NeoGenomics by 25.0% in the third quarter. Brown Advisory Inc. now owns 8,246,202 shares of the medical research company’s stock worth $101,428,000 after purchasing an additional 1,651,717 shares during the last quarter. 98.50% of the stock is 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.