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

NeoGenomics (NASDAQ:NEO - Free Report) had its target price lowered by Bank of America from $19.00 to $16.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the medical research company's stock.

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

NeoGenomics Stock Performance

NASDAQ:NEO traded down $0.76 during trading hours on Wednesday, reaching $11.10. 1,877,797 shares of the stock were exchanged, compared to its average volume of 962,304. The company has a quick ratio of 1.91, a current ratio of 1.98 and a debt-to-equity ratio of 0.38. The firm has a 50 day simple moving average of $15.28 and a 200-day simple moving average of $15.49. NeoGenomics has a 52 week low of $10.69 and a 52 week high of $19.11. The stock has a market capitalization of $1.43 billion, a P/E ratio of -17.90 and a beta of 1.23.

NeoGenomics (NASDAQ:NEO - Get Free Report) last announced 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). 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 2.10% and a negative net margin of 11.92%. As a group, sell-side analysts forecast that NeoGenomics will post -0.2 earnings per share for the current fiscal year.

Institutional Trading of NeoGenomics

Hedge funds and other institutional investors have recently modified their holdings of the business. SBI Securities Co. Ltd. acquired a new stake in shares of NeoGenomics in the fourth quarter worth $26,000. Versant Capital Management Inc raised its holdings in shares of NeoGenomics by 174.9% during the fourth quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company's stock worth $30,000 after acquiring an additional 1,142 shares in the last quarter. Quarry LP bought a new position in NeoGenomics during the third quarter valued at about $40,000. Blue Trust Inc. raised its holdings in NeoGenomics by 42.3% during the third quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company's stock valued at $46,000 after buying an additional 987 shares in the last quarter. Finally, Sterling Capital Management LLC raised its holdings in NeoGenomics by 788.7% during the fourth quarter. Sterling Capital Management LLC now owns 3,706 shares of the medical research company's stock valued at $61,000 after buying an additional 3,289 shares in the last quarter. Institutional investors and hedge funds 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.