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

NeoGenomics (NASDAQ:NEO - Get Free Report) had its target price reduced by Needham & Company LLC from $19.00 to $18.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the medical research company's stock. Needham & Company LLC's price target would indicate a potential upside of 62.16% from the company's previous close.

Other analysts have also recently issued reports about the company. Bank of America upped their target price on NeoGenomics from $18.00 to $19.00 and gave the company a "neutral" rating in a report on Friday, December 13th. Benchmark cut shares of NeoGenomics from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. Jefferies Financial Group assumed 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, 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. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, NeoGenomics presently has an average rating of "Moderate Buy" and an average target price of $19.80.

NeoGenomics Price Performance

NeoGenomics stock traded down $0.76 during midday trading on Wednesday, reaching $11.10. The company's stock had a trading volume of 1,877,797 shares, compared to its average volume of 962,304. 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 stock has a market cap of $1.43 billion, a PE ratio of -17.90 and a beta of 1.23. NeoGenomics has a 52 week low of $10.69 and a 52 week high of $19.11. The business has a 50-day moving average price of $15.28 and a 200-day moving average price of $15.49.

NeoGenomics (NASDAQ:NEO - Get Free Report) last posted its quarterly earnings data 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 net margin of 11.92% and a negative return on equity of 2.10%. The company had revenue of $172.00 million during the quarter, compared to analyst estimates of $173.40 million. On average, sell-side analysts predict that NeoGenomics will post -0.2 EPS for the current year.

Institutional Trading of NeoGenomics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its stake in NeoGenomics by 5.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 15,610 shares of the medical research company's stock valued at $257,000 after acquiring an additional 770 shares during the period. Summit Investment Advisors Inc. grew its position in NeoGenomics by 6.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 13,339 shares of the medical research company's stock valued at $220,000 after purchasing an additional 863 shares during the period. Fernwood Investment Management LLC grew its position in NeoGenomics by 1.0% in the 3rd quarter. Fernwood Investment Management LLC now owns 89,500 shares of the medical research company's stock valued at $1,320,000 after purchasing an additional 900 shares during the period. FMR LLC increased its stake in NeoGenomics by 7.6% during the 3rd quarter. FMR LLC now owns 13,255 shares of the medical research company's stock valued at $196,000 after purchasing an additional 931 shares in the last quarter. Finally, 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 worth $46,000 after buying an additional 987 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.