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

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

A number of other brokerages have also recently commented on NEO. William Blair restated an outperform rating on shares of NeoGenomics in a report on Wednesday, February 21st. Craig Hallum initiated coverage on shares of NeoGenomics in a report on Wednesday. They issued a buy rating and a $26.00 price objective for the company. Piper Sandler increased their target price on shares of NeoGenomics from $18.00 to $20.00 and gave the stock an overweight rating in a report on Monday, February 26th. The Goldman Sachs Group raised their price target on shares of NeoGenomics from $17.00 to $19.00 and gave the company a buy rating in a research report on Thursday, February 22nd. Finally, Benchmark reaffirmed a buy rating and set a $18.00 price objective on shares of NeoGenomics in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $19.78.

NeoGenomics Trading Up 3.9 %

NeoGenomics stock traded up $0.58 during midday trading on Thursday, hitting $15.30. 875,937 shares of the stock were exchanged, compared to its average volume of 907,207. The company has a current ratio of 7.48, a quick ratio of 5.95 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of -23.18 and a beta of 1.12. The stock’s 50-day simple moving average is $14.92 and its 200 day simple moving average is $15.98. NeoGenomics has a fifty-two week low of $11.03 and a fifty-two week high of $21.22.

NeoGenomics (NASDAQ:NEO) last posted its 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 return on equity of 3.54% and a negative net margin of 13.79%. The company had revenue of $155.55 million during the quarter, compared to analysts’ expectations of $152.90 million. On average, equities analysts anticipate that NeoGenomics will post -0.19 EPS for the current year.

Insider Activity

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 shares were sold at an average price of $14.96, for a total value of $38,701.52. Following 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 filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Quadrant Capital Group LLC lifted its position in shares of NeoGenomics by 22.0% during the 4th quarter. Quadrant Capital Group LLC now owns 4,900 shares of the medical research company’s stock valued at $79,000 after acquiring an additional 883 shares during the period. Banque Cantonale Vaudoise boosted its position in NeoGenomics by 6.6% during the first quarter. Banque Cantonale Vaudoise now owns 15,942 shares of the medical research company’s stock worth $251,000 after purchasing an additional 993 shares in the last quarter. Handelsbanken Fonder AB boosted its position in NeoGenomics by 7.0% during the fourth quarter. Handelsbanken Fonder AB now owns 19,900 shares of the medical research company’s stock worth $322,000 after purchasing an additional 1,300 shares in the last quarter. Yousif Capital Management LLC grew its holdings in NeoGenomics by 2.6% in the fourth quarter. Yousif Capital Management LLC now owns 65,447 shares of the medical research company’s stock valued at $1,059,000 after purchasing an additional 1,654 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of NeoGenomics by 27.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,434 shares of the medical research company’s stock valued at $136,000 after buying an additional 1,791 shares in the last quarter. Institutional investors and hedge funds 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.