The Goldman Sachs Group Lowers NeoGenomics (NASDAQ:NEO) Price Target to $18.00

NeoGenomics (NASDAQ:NEO) had its target price dropped by analysts at The Goldman Sachs Group from $20.00 to $18.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the medical research company’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 19.43% from the company’s previous close.

Other analysts also recently issued research reports about the company. Benchmark downgraded NeoGenomics from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Needham & Company LLC restated a “buy” rating and set a $19.00 target price on shares of NeoGenomics in a research report on Friday, January 10th. Bank of America upped their price objective on NeoGenomics from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Finally, Jefferies Financial Group initiated coverage on NeoGenomics in a research report on Tuesday, December 10th. They set a “buy” rating and a $22.00 price target for the company. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.20.

NeoGenomics Stock Up 0.2 %

NASDAQ:NEO traded up $0.03 during trading hours on Tuesday, hitting $15.07. 79,366 shares of the company’s stock traded hands, compared to its average volume of 1,230,681. The firm has a market cap of $1.93 billion, a P/E ratio of -24.61 and a beta of 1.24. NeoGenomics has a twelve month low of $12.13 and a twelve month high of $19.11. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.91 and a current ratio of 1.99. The stock’s fifty day moving average price is $16.53 and its two-hundred day moving average price is $15.71.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings data on Tuesday, November 5th. The medical research company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. NeoGenomics had a negative return on equity of 2.11% and a negative net margin of 12.07%. The business had revenue of $167.80 million for the quarter, compared to analyst estimates of $167.00 million. During the same quarter in the prior year, the firm posted ($0.06) EPS. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, research analysts expect that NeoGenomics will post -0.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Alicia C. Olivo sold 5,175 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $15.36, for a total value of $79,488.00. Following the sale, the general counsel now directly owns 37,129 shares in the company, valued at $570,301.44. The trade was a 12.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NeoGenomics

A number of large investors have recently made changes to their positions in NEO. Fernwood Investment Management LLC lifted its stake in shares of 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 raised its position in shares of NeoGenomics by 7.6% in the third quarter. FMR LLC now owns 13,255 shares of the medical research company’s stock valued at $196,000 after buying an additional 931 shares during the last quarter. Blue Trust Inc. raised its position in shares of NeoGenomics by 42.3% in 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 during the last quarter. KBC Group NV grew its holdings in shares of NeoGenomics by 33.1% in the third quarter. KBC Group NV now owns 4,530 shares of the medical research company’s stock valued at $67,000 after purchasing an additional 1,127 shares during the period. Finally, 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 buying an additional 1,142 shares during the period. 98.50% of the stock is owned by hedge funds and other 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.