BTIG Research Trims NeoGenomics (NASDAQ:NEO) Target Price to $21.00

NeoGenomics (NASDAQ:NEO) had its price target trimmed by BTIG Research from $23.00 to $21.00 in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the medical research company’s stock.

Several other brokerages have also commented on NEO. Needham & Company LLC dropped their price target on shares of NeoGenomics from $24.00 to $19.00 and set a buy rating on the stock in a research note on Tuesday, April 30th. The Goldman Sachs Group lifted their target price on NeoGenomics from $17.00 to $19.00 and gave the company a buy rating in a research note on Thursday, February 22nd. Piper Sandler increased their price target on NeoGenomics from $18.00 to $20.00 and gave the stock an overweight rating in a research note on Monday, February 26th. William Blair restated an outperform rating on shares of NeoGenomics in a research note on Wednesday, February 21st. Finally, Craig Hallum began coverage on shares of NeoGenomics in a research report on Wednesday, May 1st. They issued a buy rating and a $26.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $19.78.

NeoGenomics Trading Up 3.9 %

NASDAQ:NEO opened at $15.30 on Thursday. The firm has a market capitalization of $1.95 billion, a P/E ratio of -23.18 and a beta of 1.12. The business has a 50 day simple moving average of $14.92 and a 200 day simple moving average of $16.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 7.48 and a quick ratio of 5.95. NeoGenomics has a 12-month low of $11.03 and a 12-month high of $21.22.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings results on Tuesday, February 20th. The medical research company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $155.55 million during the quarter, compared to the consensus estimate of $152.90 million. Equities research analysts predict that NeoGenomics will post -0.19 EPS for the current year.

Insider Buying and Selling at NeoGenomics

In other news, General Counsel Alicia C. Olivo sold 2,587 shares of NeoGenomics stock in a transaction that occurred on 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 owns 34,866 shares of the company’s stock, valued at approximately $521,595.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NeoGenomics

A number of hedge funds have recently modified their holdings of the stock. Brown Advisory Inc. lifted its holdings in shares of NeoGenomics by 25.0% in the third quarter. Brown Advisory Inc. now owns 8,246,202 shares of the medical research company’s stock valued at $101,428,000 after purchasing an additional 1,651,717 shares in the last quarter. First Light Asset Management LLC raised its holdings in NeoGenomics by 29.6% during the fourth quarter. First Light Asset Management LLC now owns 3,926,756 shares of the medical research company’s stock valued at $63,535,000 after buying an additional 897,843 shares in the last quarter. Norges Bank acquired a new stake in shares of NeoGenomics in the fourth quarter worth about $14,512,000. Schroder Investment Management Group boosted its stake in shares of NeoGenomics by 26.7% during the 3rd quarter. Schroder Investment Management Group now owns 2,513,307 shares of the medical research company’s stock worth $30,914,000 after acquiring an additional 529,178 shares in the last quarter. Finally, Jennison Associates LLC acquired a new position in shares of NeoGenomics during the 3rd quarter valued at about $6,176,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

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.