Needham & Company LLC Lowers NeoGenomics (NASDAQ:NEO) Price Target to $18.00

NeoGenomics (NASDAQ:NEO) had its price objective decreased by analysts at Needham & Company LLC from $19.00 to $18.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 51.77% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Bank of America upped their price objective on shares of NeoGenomics from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Jefferies Financial Group initiated coverage on shares of NeoGenomics in a research report on Tuesday, December 10th. They set a “buy” rating and a $22.00 price objective for the company. The Goldman Sachs Group lowered their price objective on shares of NeoGenomics from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, Benchmark lowered shares of NeoGenomics from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $19.80.

NeoGenomics Price Performance

NEO stock opened at $11.86 on Wednesday. The company has a 50 day simple moving average of $15.28 and a 200 day simple moving average of $15.49. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of -19.13 and a beta of 1.23. NeoGenomics has a 1 year low of $10.69 and a 1 year high of $19.11. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.99 and a quick ratio of 1.91.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings data on Tuesday, February 18th. The medical research company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). The company had revenue of $172.00 million for the quarter, compared to analyst estimates of $173.40 million. NeoGenomics had a negative return on equity of 2.09% and a negative net margin of 11.92%. Research analysts anticipate that NeoGenomics will post -0.05 EPS for the current fiscal year.

Institutional Investors Weigh In On NeoGenomics

Institutional investors have recently modified their holdings of the company. Nordea Investment Management AB boosted its stake in shares of NeoGenomics by 2.8% in the 4th quarter. Nordea Investment Management AB now owns 77,534 shares of the medical research company’s stock valued at $1,301,000 after purchasing an additional 2,125 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of NeoGenomics by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 3,051,806 shares of the medical research company’s stock valued at $45,022,000 after purchasing an additional 36,136 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of NeoGenomics by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 1,276,468 shares of the medical research company’s stock valued at $18,828,000 after purchasing an additional 57,041 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of NeoGenomics by 42.3% in the 3rd quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock valued at $46,000 after purchasing an additional 987 shares during the last quarter. Finally, Algert Global LLC boosted its stake in shares of NeoGenomics by 204.3% in the 3rd quarter. Algert Global LLC now owns 79,983 shares of the medical research company’s stock valued at $1,180,000 after purchasing an additional 53,700 shares during the last quarter. 98.50% of the stock is owned by institutional investors.

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.