NeoGenomics (NASDAQ:NEO) Price Target Cut to $20.00 by Analysts at TD Cowen

NeoGenomics (NASDAQ:NEO) had its price objective decreased by TD Cowen from $21.00 to $20.00 in a research note issued to investors on Wednesday, Benzinga reports. TD Cowen currently has a buy rating on the medical research company’s stock.

A number of other brokerages also recently weighed in on NEO. The Goldman Sachs Group increased their price target on shares of NeoGenomics from $17.00 to $19.00 and gave the company a buy rating in a report on Thursday, February 22nd. Benchmark reissued a buy rating and issued a $18.00 price target on shares of NeoGenomics in a report on Wednesday. Craig Hallum started coverage on shares of NeoGenomics in a report on Wednesday. They set a buy rating and a $26.00 price objective for the company. Piper Sandler lifted their target price on shares of NeoGenomics from $18.00 to $20.00 and gave the company an overweight rating in a research report on Monday, February 26th. Finally, William Blair reiterated an outperform rating on shares of NeoGenomics in a research report on Wednesday, February 21st. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, NeoGenomics has a consensus rating of Moderate Buy and a consensus price target of $19.78.

NeoGenomics Price Performance

NASDAQ:NEO opened at $13.96 on Wednesday. The company has a current ratio of 7.48, a quick ratio of 5.95 and a debt-to-equity ratio of 0.58. NeoGenomics has a 1 year low of $11.03 and a 1 year high of $21.22. The firm’s fifty day simple moving average is $14.99 and its 200 day simple moving average is $15.96.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings results on Tuesday, February 20th. The medical research company reported ($0.02) earnings per share for the quarter, beating 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 firm had revenue of $155.55 million during the quarter, compared to the consensus estimate of $152.90 million. As a group, sell-side analysts expect that NeoGenomics will post -0.2 earnings per share for the current fiscal year.

Insider Buying and Selling at NeoGenomics

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 2,587 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $14.96, for a total value of $38,701.52. Following the transaction, the general counsel now directly owns 34,866 shares in the company, valued at $521,595.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On NeoGenomics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BluePath Capital Management LLC bought a new position in shares of NeoGenomics in the third quarter worth about $30,000. Burkett Financial Services LLC bought a new position in shares of NeoGenomics in the fourth quarter worth about $46,000. Quadrant Capital Group LLC raised its stake in shares of NeoGenomics by 22.0% in the fourth quarter. Quadrant Capital Group LLC now owns 4,900 shares of the medical research company’s stock worth $79,000 after acquiring an additional 883 shares during the last quarter. WINTON GROUP Ltd bought a new position in shares of NeoGenomics in the third quarter worth about $133,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of NeoGenomics by 27.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,434 shares of the medical research company’s stock worth $136,000 after acquiring an additional 1,791 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

About NeoGenomics

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.