Needham & Company LLC Issues Pessimistic Forecast for NeoGenomics (NASDAQ:NEO) Stock Price

NeoGenomics (NASDAQ:NEO) had its price target cut by Needham & Company LLC from $19.00 to $18.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a buy rating on the medical research company’s stock.

A number of other analysts also recently issued reports on the company. Benchmark downgraded 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. Bank of America lifted their target price on NeoGenomics from $18.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Finally, Jefferies Financial Group assumed 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. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $19.80.

NeoGenomics Stock Performance

Shares of NeoGenomics stock opened at $11.10 on Wednesday. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -17.90 and a beta of 1.23. The stock’s 50-day moving average is $15.28 and its 200-day moving average is $15.49. NeoGenomics has a one year low of $10.69 and a one year high of $19.11. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.98 and a quick ratio of 1.91.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings results on Tuesday, February 18th. The medical research company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). The firm had revenue of $172.00 million during the quarter, compared to the consensus estimate of $173.40 million. NeoGenomics had a negative net margin of 11.92% and a negative return on equity of 2.10%. Equities analysts predict that NeoGenomics will post -0.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NeoGenomics

A number of institutional investors have recently bought and sold shares of NEO. SBI Securities Co. Ltd. acquired a new position in NeoGenomics during the fourth quarter worth approximately $26,000. Versant Capital Management Inc grew its position in shares of NeoGenomics by 174.9% in the fourth quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 1,142 shares during the last quarter. Quarry LP acquired a new position in shares of NeoGenomics in the third quarter valued at approximately $40,000. Blue Trust Inc. grew 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 purchasing an additional 987 shares during the last quarter. Finally, Sterling Capital Management LLC grew its position in shares of NeoGenomics by 788.7% in the fourth quarter. Sterling Capital Management LLC now owns 3,706 shares of the medical research company’s stock valued at $61,000 after purchasing an additional 3,289 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.