The Goldman Sachs Group Issues Pessimistic Forecast for NeoGenomics (NASDAQ:NEO) Stock Price

NeoGenomics (NASDAQ:NEO) had its price target lowered by equities research analysts at The Goldman Sachs Group from $20.00 to $18.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the medical research company’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 23.54% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Needham & Company LLC reiterated a “buy” rating and set a $19.00 target price on shares of NeoGenomics in a report on Friday, January 10th. Benchmark cut NeoGenomics from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Jefferies Financial Group initiated coverage on shares of NeoGenomics in a report on Tuesday, December 10th. They issued a “buy” rating and a $22.00 target price on the stock. Finally, Bank of America lifted their price target on shares of NeoGenomics from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, NeoGenomics presently has an average rating of “Moderate Buy” and a consensus price target of $20.20.

NeoGenomics Stock Performance

NASDAQ NEO opened at $14.57 on Tuesday. The business has a 50 day moving average price of $16.53 and a 200 day moving average price of $15.72. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.99 and a quick ratio of 1.91. The company has a market capitalization of $1.87 billion, a P/E ratio of -23.88 and a beta of 1.24. NeoGenomics has a 1-year low of $12.13 and a 1-year high of $19.11.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings data on Tuesday, November 5th. The medical research company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.01 by $0.04. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. The business had revenue of $167.80 million for the quarter, compared to analyst estimates of $167.00 million. During the same period in the previous year, the firm earned ($0.06) EPS. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. Sell-side analysts expect that NeoGenomics will post -0.16 EPS for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Alicia C. Olivo sold 5,175 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $15.36, for a total value of $79,488.00. Following the transaction, the general counsel now owns 37,129 shares in the company, valued at approximately $570,301.44. This trade represents a 12.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On NeoGenomics

Hedge funds have recently made changes to their positions in the business. Loomis Sayles & Co. L P acquired a new stake in NeoGenomics in the 3rd quarter valued at $17,807,000. Segall Bryant & Hamill LLC grew its stake in shares of NeoGenomics by 67.0% in the third quarter. Segall Bryant & Hamill LLC now owns 1,893,407 shares of the medical research company’s stock valued at $27,928,000 after buying an additional 759,524 shares in the last quarter. Bellevue Group AG raised its holdings in shares of NeoGenomics by 34.2% during the 3rd quarter. Bellevue Group AG now owns 1,612,612 shares of the medical research company’s stock valued at $23,786,000 after buying an additional 410,516 shares during the period. Jennison Associates LLC lifted its position in NeoGenomics by 18.7% during the 4th quarter. Jennison Associates LLC now owns 1,514,756 shares of the medical research company’s stock worth $24,963,000 after acquiring an additional 238,288 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in NeoGenomics by 152.6% in the 2nd quarter. Sei Investments Co. now owns 263,761 shares of the medical research company’s stock worth $3,658,000 after acquiring an additional 159,350 shares during the period. Hedge funds and other 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.