NeoGenomics (NASDAQ:NEO) PT Lowered to $20.00 at TD Cowen

NeoGenomics (NASDAQ:NEO) had its target price cut by TD Cowen from $21.00 to $20.00 in a report published on Wednesday, Benzinga reports. They currently have a buy rating on the medical research company’s stock.

A number of other brokerages also recently commented on NEO. Piper Sandler lifted their target price on shares of NeoGenomics from $18.00 to $20.00 and gave the stock an overweight rating in a research note on Monday, February 26th. Needham & Company LLC reduced their target price on shares of NeoGenomics from $24.00 to $19.00 and set a buy rating on the stock in a research note on Tuesday. Craig Hallum began coverage on shares of NeoGenomics in a research note on Wednesday. They issued a buy rating and a $26.00 price target on the stock. Benchmark reissued a buy rating and issued a $18.00 price target on shares of NeoGenomics in a research note on Wednesday. Finally, The Goldman Sachs Group boosted their price target on shares of NeoGenomics from $17.00 to $19.00 and gave the company a buy rating in a research note on Thursday, February 22nd. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $19.78.

NeoGenomics Price Performance

NEO opened at $15.30 on Wednesday. NeoGenomics has a twelve month low of $11.03 and a twelve month high of $21.22. The firm’s 50-day moving average price is $14.92 and its 200 day moving average price is $15.97. The company has a debt-to-equity ratio of 0.58, a quick ratio of 5.95 and a current ratio of 7.48.

NeoGenomics (NASDAQ:NEO) last issued its earnings results on Tuesday, February 20th. The medical research company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.05. NeoGenomics had a negative net margin of 13.79% and a negative return on equity of 3.54%. The company had revenue of $155.55 million for the quarter, compared to the consensus estimate of $152.90 million. As a group, equities analysts expect that NeoGenomics will post -0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Alicia C. Olivo sold 2,587 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $14.96, for a total transaction of $38,701.52. Following the sale, the general counsel now directly owns 34,866 shares of the company’s stock, valued at approximately $521,595.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NEO. BluePath Capital Management LLC acquired a new stake in NeoGenomics during the third quarter worth approximately $30,000. Burkett Financial Services LLC purchased a new stake in NeoGenomics in the fourth quarter valued at $46,000. Quadrant Capital Group LLC lifted its position in NeoGenomics by 22.0% in the fourth quarter. Quadrant Capital Group LLC now owns 4,900 shares of the medical research company’s stock valued at $79,000 after acquiring an additional 883 shares during the last quarter. WINTON GROUP Ltd acquired a new position in NeoGenomics in the third quarter valued at $133,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of NeoGenomics by 27.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,434 shares of the medical research company’s stock worth $136,000 after purchasing an additional 1,791 shares during 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.