Bank of America Cuts NeoGenomics (NASDAQ:NEO) Price Target to $16.00

NeoGenomics (NASDAQ:NEO) had its price objective lowered by Bank of America from $19.00 to $16.00 in a report released on Wednesday,Benzinga reports. The firm currently has a neutral rating on the medical research company’s stock.

NEO has been the subject of a number of other reports. The Goldman Sachs Group decreased their price target on NeoGenomics from $20.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Benchmark downgraded NeoGenomics from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Jefferies Financial Group started coverage on shares of NeoGenomics in a research report on Tuesday, December 10th. They set a “buy” rating and a $22.00 price objective on the stock. Finally, Needham & Company LLC cut their price objective on shares of NeoGenomics from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NeoGenomics currently has an average rating of “Moderate Buy” and a consensus target price of $19.80.

NeoGenomics Stock Performance

Shares of NeoGenomics stock opened at $11.10 on Wednesday. The company has a current ratio of 1.98, a quick ratio of 1.91 and a debt-to-equity ratio of 0.38. The business has a 50-day moving average price of $15.28 and a two-hundred day moving average price of $15.49. NeoGenomics has a 1-year low of $10.69 and a 1-year high of $19.11. The company has a market cap of $1.43 billion, a P/E ratio of -17.90 and a beta of 1.23.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings results on Tuesday, February 18th. The medical research company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. The business had revenue of $172.00 million for the quarter, compared to analyst estimates of $173.40 million. As a group, analysts anticipate that NeoGenomics will post -0.05 EPS for the current year.

Hedge Funds Weigh In On NeoGenomics

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in NeoGenomics by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 14,239,887 shares of the medical research company’s stock valued at $234,673,000 after acquiring an additional 195,793 shares in the last quarter. State Street Corp lifted its position in NeoGenomics by 1.6% in the 3rd quarter. State Street Corp now owns 4,958,582 shares of the medical research company’s stock valued at $73,139,000 after acquiring an additional 80,449 shares in the last quarter. Greenhouse Funds LLLP lifted its position in NeoGenomics by 5.3% in the 4th quarter. Greenhouse Funds LLLP now owns 4,701,897 shares of the medical research company’s stock valued at $77,487,000 after acquiring an additional 237,491 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in NeoGenomics by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,436,858 shares of the medical research company’s stock valued at $56,645,000 after acquiring an additional 78,211 shares in the last quarter. Finally, First Light Asset Management LLC lifted its position in NeoGenomics by 3.0% in the 4th quarter. First Light Asset Management LLC now owns 3,167,585 shares of the medical research company’s stock valued at $52,202,000 after acquiring an additional 91,030 shares in 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.