Investment Analysts’ Recent Ratings Changes for NeoGenomics (NEO)

A number of research firms have changed their ratings and price targets for NeoGenomics (NASDAQ: NEO):

• 5/18/2023 – NeoGenomics is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 5/16/2023 – NeoGenomics was downgraded by analysts at Raymond James from an “outperform” rating to a “market perform” rating.
• 5/15/2023 – NeoGenomics had its price target raised by analysts at Piper Sandler from $20.00 to $23.00.
• 5/9/2023 – NeoGenomics was upgraded by analysts at BTIG Research from a “neutral” rating to a “buy” rating. They now have a $25.00 price target on the stock.
• 4/18/2023 – NeoGenomics had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $21.00 price target on the stock.
• 4/11/2023 – NeoGenomics had its price target lowered by analysts at Bank of America Co. from $18.00 to $17.00. They now have a “neutral” rating on the stock.
• 4/5/2023 – NeoGenomics had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $21.00 price target on the stock.
• 3/24/2023 – NeoGenomics was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.

NeoGenomics Price Performance

NASDAQ NEO opened at $17.89 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 6.75 and a quick ratio of 6.47. The firm has a market capitalization of $2.28 billion, a PE ratio of -17.71 and a beta of 1.12. NeoGenomics, Inc. has a 12 month low of $6.00 and a 12 month high of $20.54. The company’s 50 day simple moving average is $16.66 and its 200 day simple moving average is $13.41.

NeoGenomics (NASDAQ:NEO – Get Rating) last issued its earnings results on Thursday, February 23rd. The medical research company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.09. The company had revenue of $138.71 million during the quarter, compared to analyst estimates of $129.96 million. NeoGenomics had a negative net margin of 23.72% and a negative return on equity of 7.34%. As a group, equities research analysts forecast that NeoGenomics, Inc. will post -0.55 EPS for the current fiscal year.

Institutional Investors Weigh In On NeoGenomics

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of NeoGenomics by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 12,970,503 shares of the medical research company’s stock worth $157,592,000 after purchasing an additional 113,534 shares during the period. Brown Advisory Inc. increased its holdings in shares of NeoGenomics by 2.9% during the 1st quarter. Brown Advisory Inc. now owns 6,591,204 shares of the medical research company’s stock worth $114,753,000 after purchasing an additional 187,219 shares during the period. State Street Corp increased its holdings in shares of NeoGenomics by 5.1% during the 1st quarter. State Street Corp now owns 4,886,170 shares of the medical research company’s stock worth $85,069,000 after purchasing an additional 236,236 shares during the period. Greenhouse Funds LLLP increased its holdings in shares of NeoGenomics by 4.8% during the 1st quarter. Greenhouse Funds LLLP now owns 2,930,014 shares of the medical research company’s stock worth $51,012,000 after purchasing an additional 134,783 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased its stake in NeoGenomics by 13.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,916,935 shares of the medical research company’s stock valued at $26,953,000 after acquiring an additional 348,026 shares during the period. Institutional investors and hedge funds own 88.15% of the company’s stock.

NeoGenomics, Inc is a clinical laboratory company, which engages in cancer genetics diagnostic testing and pharma services. It operates through the Clinical Services and Pharma Services segments. The Clinical Services segment offers cancer testing services to community-based pathologists, hospitals, academic centers, and oncology groups.