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

NeoGenomics (NASDAQ:NEO) had its price objective decreased by The Goldman Sachs Group from $20.00 to $18.00 in a report issued on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the medical research company’s stock.

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

NeoGenomics Trading Up 1.6 %

NASDAQ:NEO opened at $14.80 on Tuesday. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of -24.26 and a beta of 1.24. NeoGenomics has a 1-year low of $12.13 and a 1-year high of $19.11. The business’s 50-day moving average price is $16.51 and its two-hundred day moving average price is $15.71. The company has a current ratio of 1.99, a quick ratio of 1.91 and a debt-to-equity ratio of 0.37.

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

Insider Buying and Selling

In related news, General Counsel Alicia C. Olivo sold 5,175 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $15.36, for a total transaction of $79,488.00. Following the sale, the general counsel now owns 37,129 shares in the company, valued at approximately $570,301.44. This represents a 12.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc grew its stake 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 buying an additional 1,142 shares in the last quarter. Quarry LP bought a new position in shares of NeoGenomics in the 3rd quarter valued at about $40,000. Blue Trust Inc. increased its stake in shares of NeoGenomics by 42.3% during the 3rd quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock worth $46,000 after purchasing an additional 987 shares during the last quarter. KBC Group NV raised its holdings in shares of NeoGenomics by 33.1% in the 3rd 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, FMR LLC lifted its stake in NeoGenomics by 7.6% in the 3rd quarter. FMR LLC now owns 13,255 shares of the medical research company’s stock valued at $196,000 after purchasing an additional 931 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.