Piper Sandler Has Lowered Expectations for NeoGenomics (NASDAQ:NEO) Stock Price

NeoGenomics (NASDAQ:NEO - Free Report) had its price target trimmed by Piper Sandler from $21.00 to $18.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an overweight rating on the medical research company's stock.

NEO has been the subject of several other reports. Bank of America cut their price objective on shares of NeoGenomics from $19.00 to $16.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. Needham & Company LLC cut their price target on shares of NeoGenomics from $19.00 to $18.00 and set a "buy" rating for the company in a report on Wednesday, February 19th. 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 on the stock. The Goldman Sachs Group lowered their price objective on shares of NeoGenomics from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Tuesday, January 28th. Finally, Benchmark cut shares of NeoGenomics from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.60.

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NeoGenomics Stock Up 1.7 %

NASDAQ:NEO traded up $0.17 on Wednesday, hitting $9.99. The stock had a trading volume of 1,324,078 shares, compared to its average volume of 1,200,410. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.91 and a current ratio of 1.98. The stock has a market cap of $1.28 billion, a P/E ratio of -16.11 and a beta of 1.23. NeoGenomics has a 1 year low of $9.59 and a 1 year high of $19.11. The firm's fifty day simple moving average is $14.49 and its two-hundred day simple moving average is $15.24.

NeoGenomics (NASDAQ:NEO - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The medical research company reported ($0.02) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $172.00 million during the quarter, compared to analysts' expectations of $173.40 million. Analysts predict that NeoGenomics will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On NeoGenomics

Large investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. bought a new stake in shares of NeoGenomics during the 4th quarter valued at about $26,000. Versant Capital Management Inc boosted its stake in 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 stake in NeoGenomics during the third quarter worth about $40,000. Blue Trust Inc. boosted its stake 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 acquiring an additional 987 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its stake 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 worth $61,000 after acquiring an additional 3,289 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.