The Goldman Sachs Group Lowers NeoGenomics (NASDAQ:NEO) Price Target to $18.00

NeoGenomics (NASDAQ:NEO) had its price target decreased by The Goldman Sachs Group from $20.00 to $18.00 in a research note issued to investors on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the medical research company’s stock.

Several other equities analysts also recently commented on the stock. Bank of America upped their price target on shares of NeoGenomics from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Benchmark cut shares of NeoGenomics from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price target on shares of NeoGenomics in a research report on Friday, January 10th. Finally, Jefferies Financial Group initiated coverage on NeoGenomics in a research report on Tuesday, December 10th. They set a “buy” rating and a $22.00 price target on the stock. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, NeoGenomics presently has an average rating of “Moderate Buy” and a consensus price target of $20.20.

NeoGenomics Stock Up 1.6 %

NeoGenomics stock opened at $14.80 on Tuesday. NeoGenomics has a twelve month low of $12.13 and a twelve month high of $19.11. The stock has a market cap of $1.90 billion, a P/E ratio of -24.26 and a beta of 1.24. The company’s 50-day moving average price is $16.51 and its two-hundred day moving average price is $15.71. The company has a quick ratio of 1.91, a current ratio of 1.99 and a debt-to-equity ratio of 0.37.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings results on Tuesday, November 5th. The medical research company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. NeoGenomics had a negative return on equity of 2.11% and a negative net margin of 12.07%. The business had revenue of $167.80 million during the quarter, compared to analysts’ expectations of $167.00 million. During the same period last year, the firm posted ($0.06) EPS. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, analysts expect that NeoGenomics will post -0.16 EPS for the current year.

Insider Buying and Selling at NeoGenomics

In related news, General Counsel Alicia C. Olivo sold 5,175 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $15.36, for a total value of $79,488.00. Following the sale, the general counsel now directly owns 37,129 shares of the company’s stock, valued at $570,301.44. This trade represents a 12.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Strategic Financial Concepts LLC bought a new stake in shares of NeoGenomics during the 4th quarter valued at approximately $220,000. Rhumbline Advisers increased its holdings in shares of NeoGenomics by 2.4% during the fourth quarter. Rhumbline Advisers now owns 389,003 shares of the medical research company’s stock worth $6,411,000 after buying an additional 9,098 shares in the last quarter. Guidance Capital Inc. bought a new position in shares of NeoGenomics in the 4th quarter valued at $528,000. Jennison Associates LLC boosted its holdings in shares of NeoGenomics by 18.7% during the 4th quarter. Jennison Associates LLC now owns 1,514,756 shares of the medical research company’s stock valued at $24,963,000 after acquiring an additional 238,288 shares in the last quarter. Finally, Chicago Capital LLC bought a new stake in NeoGenomics during the 4th quarter worth $270,000. Institutional investors 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.