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

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

NEO has been the subject of a number of other research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price target on shares of NeoGenomics in a research report on Friday, January 10th. Jefferies Financial Group initiated coverage on NeoGenomics in a research note on Tuesday, December 10th. They issued a “buy” rating and a $22.00 price objective for the company. Benchmark lowered NeoGenomics from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Bank of America raised their price target on shares of NeoGenomics from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $20.20.

NeoGenomics Stock Performance

NEO opened at $15.18 on Tuesday. The company has a market cap of $1.95 billion, a P/E ratio of -24.88 and a beta of 1.24. The company has a quick ratio of 1.91, a current ratio of 1.99 and a debt-to-equity ratio of 0.37. The firm’s 50-day moving average price is $16.53 and its 200-day moving average price is $15.72. NeoGenomics has a 52-week low of $12.13 and a 52-week high of $19.11.

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

Insider Transactions at NeoGenomics

In other news, General Counsel Alicia C. Olivo sold 5,175 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $15.36, for a total transaction 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 represents a 12.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On NeoGenomics

Institutional investors and hedge funds have recently modified their holdings of the business. Strategic Financial Concepts LLC acquired a new stake in NeoGenomics in the fourth quarter valued at approximately $220,000. Guidance Capital Inc. acquired a new position in shares of NeoGenomics during the 4th quarter worth approximately $528,000. Jennison Associates LLC lifted its position 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 buying an additional 238,288 shares in the last quarter. Chicago Capital LLC acquired a new stake in NeoGenomics in the 4th quarter valued at $270,000. Finally, KBC Group NV increased its holdings in NeoGenomics by 44.7% in the 4th quarter. KBC Group NV now owns 6,557 shares of the medical research company’s stock worth $108,000 after acquiring an additional 2,027 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

NeoGenomics Company Profile

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.