NeoGenomics (NASDAQ:NEO) Price Target Lowered to $20.00 at SVB Leerink – Ticker Report
A number of other research analysts have also weighed in on NEO. Raymond James cut their target price on shares of NeoGenomics from $53.00 to $24.00 and set an outperform rating for the company in a research report on Thursday, February 24th. Morgan Stanley cut their target price on shares of NeoGenomics from $30.00 to $29.00 and set an equal weight rating for the company in a research report on Thursday, February 24th. Bank of America lowered shares of NeoGenomics from a buy rating to a neutral rating and cut their price objective for the company from $25.00 to $18.00 in a research report on Tuesday. Craig Hallum reduced their price objective on NeoGenomics from $46.00 to $30.00 in a research report on Thursday, February 24th. Finally, Cowen initiated coverage on NeoGenomics in a report on Thursday, December 16th. They set an outperform rating and a $42.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, NeoGenomics presently has an average rating of Buy and a consensus price target of $25.36.
NEO stock opened at $12.38 on Tuesday. The company has a current ratio of 7.81, a quick ratio of 7.54 and a debt-to-equity ratio of 0.48. NeoGenomics has a 1 year low of $11.00 and a 1 year high of $54.74. The company has a fifty day simple moving average of $19.12 and a 200 day simple moving average of $31.48. The firm has a market cap of $1.54 billion, a PE ratio of -112.54 and a beta of 0.84.
NeoGenomics (NASDAQ:NEO – Get Rating) last released its earnings results on Wednesday, February 23rd. The medical research company reported ($0.14) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.03. The firm had revenue of $125.73 million during the quarter, compared to analyst estimates of $125.77 million. NeoGenomics had a negative net margin of 1.72% and a negative return on equity of 4.17%. The business’s revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.12 EPS. As a group, analysts forecast that NeoGenomics will post -0.66 EPS for the current fiscal year.
In related news, CFO William Bonello sold 3,209 shares of the business’s stock in a transaction on Monday, March 7th. The stock was sold at an average price of $18.29, for a total value of $58,692.61. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 4.70% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in NEO. Artisan Partners Limited Partnership boosted its stake in NeoGenomics by 43.1% in the 3rd quarter. Artisan Partners Limited Partnership now owns 6,931,041 shares of the medical research company’s stock valued at $334,353,000 after buying an additional 2,086,662 shares in the last quarter. Wellington Management Group LLP raised its position in NeoGenomics by 36.7% in the 3rd quarter. Wellington Management Group LLP now owns 7,585,848 shares of the medical research company’s stock valued at $365,942,000 after purchasing an additional 2,037,787 shares during the last quarter. Macquarie Group Ltd. raised its position in NeoGenomics by 134.3% in the 3rd quarter. Macquarie Group Ltd. now owns 2,042,456 shares of the medical research company’s stock valued at $98,528,000 after purchasing an additional 1,170,745 shares during the last quarter. Schroder Investment Management Group bought a new position in NeoGenomics in the 3rd quarter valued at $48,625,000. Finally, Norges Bank bought a new position in NeoGenomics in the 4th quarter valued at $27,956,000. 97.04% of the stock is currently owned by institutional investors and hedge funds.
NeoGenomics Company Profile (Get Rating)
NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States, Europe, and Asia. It operates through, Clinical Services and Pharma Services segments. The company offers testing services to hospitals, reference labs, pathologists, oncologists, clinicians, pharmaceutical firms, and researchers.
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