NeoGenomics (NASDAQ:NEO) Price Target Lowered to $20.00 at TD Cowen

NeoGenomics (NASDAQ:NEO) had its target price trimmed by TD Cowen from $21.00 to $20.00 in a report released on Wednesday, Benzinga reports. The firm currently has a buy rating on the medical research company’s stock.

Other equities analysts have also issued reports about the stock. Needham & Company LLC dropped their price target on shares of NeoGenomics from $24.00 to $19.00 and set a buy rating for the company in a research report on Tuesday, April 30th. Piper Sandler upped their price objective on NeoGenomics from $18.00 to $20.00 and gave the stock an overweight rating in a research note on Monday, February 26th. The Goldman Sachs Group increased their target price on NeoGenomics from $17.00 to $19.00 and gave the stock a buy rating in a research report on Thursday, February 22nd. Benchmark reissued a buy rating and issued a $18.00 price target on shares of NeoGenomics in a report on Wednesday. Finally, Craig Hallum began coverage on shares of NeoGenomics in a report on Wednesday. They set a buy rating and a $26.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, NeoGenomics currently has a consensus rating of Moderate Buy and a consensus target price of $19.78.

NeoGenomics Price Performance

NASDAQ NEO opened at $15.30 on Wednesday. The business’s fifty day moving average is $14.92 and its 200 day moving average is $15.98. NeoGenomics has a fifty-two week low of $11.03 and a fifty-two week high of $21.22. 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 has a market capitalization of $1.95 billion, a PE ratio of -23.18 and a beta of 1.12.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Tuesday, February 20th. The medical research company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. The firm had revenue of $155.55 million for the quarter, compared to analysts’ expectations of $152.90 million. NeoGenomics had a negative return on equity of 3.54% and a negative net margin of 13.79%. Sell-side 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 company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $14.96, for a total transaction of $38,701.52. Following the sale, the general counsel now directly owns 34,866 shares in the company, valued at $521,595.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Brown Advisory Inc. raised 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 purchasing an additional 1,651,717 shares during the period. First Light Asset Management LLC lifted its stake 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 acquiring an additional 897,843 shares during the last quarter. Norges Bank purchased a new position in NeoGenomics during the 4th quarter valued at $14,512,000. Schroder Investment Management Group grew its position in NeoGenomics by 26.7% in the 3rd quarter. Schroder Investment Management Group now owns 2,513,307 shares of the medical research company’s stock valued at $30,914,000 after acquiring an additional 529,178 shares during the last quarter. Finally, Jennison Associates LLC purchased a new stake in NeoGenomics in the third quarter worth $6,176,000. Institutional investors own 98.50% of the company’s stock.

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.