The Goldman Sachs Group Has Lowered Expectations for NeoGenomics (NASDAQ:NEO) Stock Price

NeoGenomics (NASDAQ:NEO) had its target price decreased by equities research analysts at The Goldman Sachs Group from $17.00 to $15.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 57.07% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Bank of America cut their target price on NeoGenomics from $19.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Needham & Company LLC reduced their price objective on shares of NeoGenomics from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Benchmark downgraded shares of NeoGenomics from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Piper Sandler reduced their price target on shares of NeoGenomics from $21.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, NeoGenomics has a consensus rating of “Moderate Buy” and a consensus price target of $19.30.

NeoGenomics Stock Down 0.1 %

Shares of NEO opened at $9.55 on Thursday. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -15.40 and a beta of 1.41. NeoGenomics has a 52 week low of $8.05 and a 52 week high of $19.12. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.91 and a current ratio of 1.98. The business’s fifty day moving average price is $10.19 and its two-hundred day moving average price is $13.61.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings data on Tuesday, February 18th. The medical research company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. The firm had revenue of $172.00 million for the quarter, compared to the consensus estimate of $173.40 million. On average, analysts predict that NeoGenomics will post -0.2 earnings per share for the current year.

Institutional Trading of NeoGenomics

Several hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its position in NeoGenomics by 5.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 15,610 shares of the medical research company’s stock worth $257,000 after buying an additional 770 shares in the last quarter. Summit Investment Advisors Inc. raised its stake in shares of NeoGenomics by 6.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 13,339 shares of the medical research company’s stock worth $220,000 after purchasing an additional 863 shares in the last quarter. FMR LLC raised its position in NeoGenomics by 7.6% during the third quarter. FMR LLC now owns 13,255 shares of the medical research company’s stock worth $196,000 after acquiring an additional 931 shares in the last quarter. Blue Trust Inc. lifted its stake in NeoGenomics by 33.2% in the fourth quarter. Blue Trust Inc. now owns 4,421 shares of the medical research company’s stock valued at $73,000 after acquiring an additional 1,103 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in shares of NeoGenomics by 174.9% in 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 during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

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.