NeoGenomics (NASDAQ:NEO) Given New $18.00 Price Target at Piper Sandler

NeoGenomics (NASDAQ:NEO) had its price target decreased by Piper Sandler from $21.00 to $18.00 in a research report released on Wednesday,Benzinga reports. Piper Sandler currently has an overweight rating on the medical research company’s stock.

NEO has been the topic of a number of other research reports. Needham & Company LLC cut their price target on shares of NeoGenomics from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Benchmark lowered shares of NeoGenomics from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Jefferies Financial Group initiated coverage on shares of NeoGenomics in a research report on Tuesday, December 10th. They set a “buy” rating and a $22.00 price target on the stock. Bank of America lowered their price objective on NeoGenomics from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Finally, The Goldman Sachs Group cut 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. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.60.

NeoGenomics Price Performance

NeoGenomics stock opened at $10.40 on Wednesday. The stock has a 50-day moving average price of $14.75 and a two-hundred day moving average price of $15.33. NeoGenomics has a 12 month low of $10.34 and a 12 month high of $19.11. The company has a market capitalization of $1.34 billion, a PE ratio of -16.77 and a beta of 1.23. The company has a current ratio of 1.98, a quick ratio of 1.91 and a debt-to-equity ratio of 0.38.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings data on Tuesday, February 18th. The medical research company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). NeoGenomics had a negative net margin of 11.92% and a negative return on equity of 2.10%. The business had revenue of $172.00 million during the quarter, compared to the consensus estimate of $173.40 million. Analysts expect that NeoGenomics will post -0.2 EPS for the current year.

Institutional Trading of NeoGenomics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Creative Planning grew its holdings in NeoGenomics by 42.3% during the third quarter. Creative Planning now owns 23,547 shares of the medical research company’s stock worth $347,000 after buying an additional 7,004 shares in the last quarter. Blue Trust Inc. grew its stake in shares of NeoGenomics by 42.3% in the 3rd quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock worth $46,000 after acquiring an additional 987 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of NeoGenomics by 5.0% in the third quarter. Nisa Investment Advisors LLC now owns 45,104 shares of the medical research company’s stock valued at $665,000 after purchasing an additional 2,166 shares during the last quarter. Fernwood Investment Management LLC lifted its position in shares of NeoGenomics by 1.0% during the third 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 in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in NeoGenomics during the third quarter worth about $1,101,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

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.