Bank of America Issues Pessimistic Forecast for NeoGenomics (NASDAQ:NEO) Stock Price

NeoGenomics (NASDAQ:NEO) had its target price reduced by Bank of America from $19.00 to $16.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the medical research company’s stock. Bank of America‘s price objective indicates a potential upside of 34.91% from the stock’s current price.

Several other research analysts have also recently issued reports on the stock. The Goldman Sachs Group cut their target price on shares of NeoGenomics from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Needham & Company LLC cut their price target on shares of NeoGenomics from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday. Benchmark cut shares of NeoGenomics from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, Jefferies Financial Group began coverage on shares of NeoGenomics in a report on Tuesday, December 10th. They issued a “buy” rating and a $22.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.80.

NeoGenomics Stock Down 6.8 %

Shares of NeoGenomics stock opened at $11.86 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.91 and a current ratio of 1.99. NeoGenomics has a 52-week low of $10.69 and a 52-week high of $19.11. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of -19.13 and a beta of 1.23. The company’s 50 day moving average price is $15.28 and its 200-day moving average price is $15.49.

NeoGenomics (NASDAQ:NEO) last issued its earnings results on Tuesday, February 18th. The medical research company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). NeoGenomics had a negative return on equity of 2.09% and a negative net margin of 11.92%. The firm had revenue of $172.00 million during the quarter, compared to the consensus estimate of $173.40 million. Equities research analysts forecast that NeoGenomics will post -0.05 EPS for the current year.

Hedge Funds Weigh In On NeoGenomics

Institutional investors and hedge funds have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of NeoGenomics by 7.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 646,111 shares of the medical research company’s stock worth $10,648,000 after buying an additional 42,895 shares during the last quarter. Sovereign s Capital Management LLC purchased a new stake in shares of NeoGenomics in the 4th quarter worth approximately $490,000. Squarepoint Ops LLC purchased a new stake in shares of NeoGenomics in the 4th quarter worth approximately $276,000. Sherbrooke Park Advisers LLC purchased a new stake in shares of NeoGenomics in the 4th quarter worth approximately $183,000. Finally, ProShare Advisors LLC grew its stake in shares of NeoGenomics by 44.5% in the 4th quarter. ProShare Advisors LLC now owns 38,445 shares of the medical research company’s stock worth $634,000 after buying an additional 11,831 shares during the last quarter. Institutional investors 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.