NeoGenomics (NASDAQ:NEO) Price Target Raised to $20.00 at The Goldman Sachs Group

Tammy Falkenburg 2022-08-14 11:08

NeoGenomics (NASDAQ:NEO – Get Rating) had its price target increased by The Goldman Sachs Group from $18.00 to $20.00 in a research report released on Wednesday, Stock Target Advisor reports. They currently have a buy rating on the medical research company’s stock.

NEO has been the topic of a number of other reports. Morgan Stanley reduced their price target on NeoGenomics from $19.00 to $18.00 and set an equal weight rating on the stock in a research report on Wednesday. Needham & Company LLC reduced their price target on NeoGenomics from $19.00 to $16.00 and set a buy rating on the stock in a research report on Wednesday. Piper Sandler initiated coverage on NeoGenomics in a research report on Thursday, June 2nd. They set an overweight rating and a $13.00 price target on the stock. Raymond James reduced their price target on NeoGenomics from $24.00 to $18.00 and set an outperform rating on the stock in a research report on Monday, April 18th. Finally, StockNews.com raised shares of NeoGenomics to a sell rating in a report on Wednesday, August 3rd. One 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’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $19.54.

NeoGenomics Stock Performance

Shares of NASDAQ:NEO opened at $12.62 on Wednesday. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of -10.61 and a beta of 0.94. NeoGenomics has a 52 week low of $6.85 and a 52 week high of $54.74. The company has a quick ratio of 7.64, a current ratio of 7.53 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average of $9.00 and a 200 day moving average of $12.71.

NeoGenomics (NASDAQ:NEO – Get Rating) last issued its quarterly earnings results on Tuesday, August 9th. The medical research company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.06. The business had revenue of $125.00 million for the quarter, compared to the consensus estimate of $123.26 million. NeoGenomics had a negative return on equity of 8.53% and a negative net margin of 30.00%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.04) earnings per share. On average, sell-side analysts predict that NeoGenomics will post -1.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NeoGenomics

Hedge funds have recently added to or reduced their stakes in the business. OLD Mission Capital LLC purchased a new stake in NeoGenomics in the fourth quarter valued at $675,000. Swiss National Bank boosted its holdings in NeoGenomics by 3.7% in the fourth quarter. Swiss National Bank now owns 256,800 shares of the medical research company’s stock valued at $8,762,000 after purchasing an additional 9,200 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in NeoGenomics by 7.8% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 75,331 shares of the medical research company’s stock valued at $2,570,000 after purchasing an additional 5,445 shares during the last quarter. RMB Capital Management LLC boosted its holdings in NeoGenomics by 21.8% in the first quarter. RMB Capital Management LLC now owns 305,805 shares of the medical research company’s stock valued at $3,716,000 after purchasing an additional 54,661 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its holdings in NeoGenomics by 3.1% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 268,194 shares of the medical research company’s stock valued at $9,151,000 after purchasing an additional 8,074 shares during the last quarter. 95.03% of the stock is owned by hedge funds and other institutional investors.

NeoGenomics Company Profile

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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.

NeoGenomics (NASDAQ:NEO) Price Target Raised to $20.00 at The Goldman Sachs Group

NeoGenomics Stock Performance

Institutional Investors Weigh In On NeoGenomics

NeoGenomics Company Profile

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