NeoGenomics (NASDAQ:NEO) Cut to Market Perform at Leerink Partners

Leerink Partners cut shares of NeoGenomics (NASDAQ:NEO) from an outperform rating to a market perform rating in a research report released on Wednesday morning, Marketbeat.com reports. Leerink Partners currently has $9.00 price target on the medical research company’s stock, down from their previous price target of $25.00.

A number of other brokerages have also issued reports on NEO. Needham & Company LLC dropped their price target on shares of NeoGenomics from $18.00 to $8.50 and set a “buy” rating for the company in a research note on Tuesday. Piper Sandler cut their target price on shares of NeoGenomics from $21.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Benchmark lowered NeoGenomics from a “buy” rating to a “hold” rating in a report on Monday, January 13th. The Goldman Sachs Group decreased their target price on NeoGenomics from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Finally, Bank of America dropped their price target on NeoGenomics from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $14.50.

NeoGenomics Stock Performance

NeoGenomics stock opened at $7.70 on Wednesday. NeoGenomics has a 12-month low of $6.08 and a 12-month high of $19.12. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.98 and a quick ratio of 1.91. The company has a market capitalization of $990.66 million, a price-to-earnings ratio of -12.42 and a beta of 1.41. The firm’s fifty day moving average price is $9.40 and its 200 day moving average price is $13.27.

NeoGenomics (NASDAQ:NEO) last announced its earnings results on Tuesday, April 29th. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. The business had revenue of $168.04 million for the quarter, compared to analysts’ expectations of $171.38 million. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.02) earnings per share. On average, research analysts forecast that NeoGenomics will post -0.2 EPS for the current fiscal year.

Institutional Trading of NeoGenomics

Several hedge funds have recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in shares of NeoGenomics in the fourth quarter valued at approximately $26,000. Versant Capital Management Inc raised its stake in NeoGenomics by 174.9% during the 4th quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 1,142 shares in the last quarter. CWM LLC grew its stake in shares of NeoGenomics by 42.6% in the first quarter. CWM LLC now owns 6,299 shares of the medical research company’s stock worth $60,000 after purchasing an additional 1,883 shares in the last quarter. Sterling Capital Management LLC raised its stake in shares of NeoGenomics by 788.7% during the fourth quarter. Sterling Capital Management LLC now owns 3,706 shares of the medical research company’s stock valued at $61,000 after purchasing an additional 3,289 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in NeoGenomics by 203.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,156 shares of the medical research company’s stock worth $70,000 after purchasing an additional 2,787 shares during the period. 98.50% of the stock is currently owned by 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.