Needham & Company LLC Cuts NeoGenomics (NASDAQ:NEO) Price Target to $16.00
NEO has been the subject of a number of other reports. Piper Sandler initiated coverage on shares of NeoGenomics in a research report on Thursday, June 2nd. They set an overweight rating and a $13.00 price objective for the company. Raymond James reduced their price objective on shares of NeoGenomics from $24.00 to $18.00 and set an outperform rating for the company in a research report on Monday, April 18th. StockNews.com raised shares of NeoGenomics to a sell rating in a research report on Wednesday, August 3rd. Cowen set a $17.00 target price on shares of NeoGenomics in a research report on Tuesday, July 19th. Finally, Morgan Stanley reduced their target price on shares of NeoGenomics from $29.00 to $27.00 and set an equal weight rating for the company in a research report on Tuesday, April 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $19.54.
NeoGenomics Price Performance
Shares of NEO opened at $12.62 on Wednesday. NeoGenomics has a 1-year low of $6.85 and a 1-year high of $54.74. The company’s fifty day simple moving average is $9.00 and its 200 day simple moving average is $12.77. The company has a debt-to-equity ratio of 0.51, a quick ratio of 7.64 and a current ratio of 7.53.
NeoGenomics (NASDAQ:NEO – Get Rating) last released its quarterly earnings data on Tuesday, August 9th. The medical research company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.06. NeoGenomics had a negative net margin of 30.00% and a negative return on equity of 8.53%. The firm had revenue of $125.00 million during the quarter, compared to analysts’ expectations of $123.26 million. During the same period in the previous year, the business posted ($0.04) earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, analysts expect that NeoGenomics will post -1.04 EPS for the current fiscal year.
Institutional Investors Weigh In On NeoGenomics
Several institutional investors and hedge funds have recently bought and sold shares of the company. American International Group Inc. lifted its position in NeoGenomics by 2.5% during the second quarter. American International Group Inc. now owns 67,325 shares of the medical research company’s stock worth $549,000 after purchasing an additional 1,623 shares during the period. First Light Asset Management LLC lifted its position in NeoGenomics by 236.9% during the second quarter. First Light Asset Management LLC now owns 2,715,487 shares of the medical research company’s stock worth $22,131,000 after purchasing an additional 1,909,529 shares during the period. Natixis Investment Managers International lifted its position in NeoGenomics by 3.5% during the second quarter. Natixis Investment Managers International now owns 77,607 shares of the medical research company’s stock worth $632,000 after purchasing an additional 2,658 shares during the period. Mirova lifted its position in NeoGenomics by 3.5% during the second quarter. Mirova now owns 77,607 shares of the medical research company’s stock worth $632,000 after purchasing an additional 2,658 shares during the period. Finally, Credit Suisse AG lifted its position in NeoGenomics by 314.6% during the second quarter. Credit Suisse AG now owns 511,446 shares of the medical research company’s stock worth $4,169,000 after purchasing an additional 388,087 shares during the period. Institutional investors own 95.03% of the company’s stock.
NeoGenomics Company Profile
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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