NeoGenomics (NASDAQ:NEO) Given New $18.00 Price Target at Needham & Company LLC

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

NEO has been the topic of several other research reports. Bank of America boosted their price target on shares of NeoGenomics from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Benchmark cut shares of NeoGenomics from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Jefferies Financial Group started coverage on shares of NeoGenomics in a report on Tuesday, December 10th. They issued a “buy” rating and a $22.00 price target for the company. Finally, The Goldman Sachs Group reduced their price objective on NeoGenomics from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, NeoGenomics currently has an average rating of “Moderate Buy” and an average price target of $19.80.

NeoGenomics Stock Up 2.6 %

Shares of NEO stock opened at $12.72 on Wednesday. The stock has a market cap of $1.63 billion, a P/E ratio of -20.85 and a beta of 1.23. The company’s fifty day simple moving average is $15.40 and its two-hundred day simple moving average is $15.51. The company has a quick ratio of 1.91, a current ratio of 1.99 and a debt-to-equity ratio of 0.37. NeoGenomics has a 52 week low of $10.69 and a 52 week high of $19.11.

NeoGenomics (NASDAQ:NEO) last announced 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). NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. The firm had revenue of $172.00 million for the quarter, compared to the consensus estimate of $173.40 million. Analysts predict that NeoGenomics will post -0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On NeoGenomics

A number of large investors have recently bought and sold shares of NEO. Vanguard Group Inc. increased its position in shares of NeoGenomics by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 14,239,887 shares of the medical research company’s stock worth $234,673,000 after acquiring an additional 195,793 shares during the period. State Street Corp raised its position in NeoGenomics by 1.6% during the 3rd quarter. State Street Corp now owns 4,958,582 shares of the medical research company’s stock valued at $73,139,000 after purchasing an additional 80,449 shares in the last quarter. Greenhouse Funds LLLP lifted its holdings in shares of NeoGenomics by 5.3% in the 4th quarter. Greenhouse Funds LLLP now owns 4,701,897 shares of the medical research company’s stock worth $77,487,000 after buying an additional 237,491 shares during the period. Dimensional Fund Advisors LP grew its position in shares of NeoGenomics by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,436,858 shares of the medical research company’s stock worth $56,645,000 after buying an additional 78,211 shares in the last quarter. Finally, First Light Asset Management LLC increased its stake in shares of NeoGenomics by 3.0% during the fourth quarter. First Light Asset Management LLC now owns 3,167,585 shares of the medical research company’s stock valued at $52,202,000 after buying an additional 91,030 shares during the period. Hedge funds and other institutional investors 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.