NeoGenomics (NASDAQ:NEO) Given New $16.00 Price Target at Bank of America

NeoGenomics (NASDAQ:NEO) had its price target cut by Bank of America from $19.00 to $16.00 in a research note published on Wednesday,Benzinga reports. They currently have a neutral rating on the medical research company’s stock.

Several other analysts also recently issued reports on the stock. Benchmark downgraded shares of NeoGenomics from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Needham & Company LLC lowered their price target on shares of NeoGenomics from $19.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday. The Goldman Sachs Group cut their price objective on shares of NeoGenomics from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Finally, Jefferies Financial Group started coverage on shares of NeoGenomics in a research report on Tuesday, December 10th. They issued a “buy” rating and a $22.00 price objective for the company. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.80.

NeoGenomics Stock Performance

NASDAQ:NEO opened at $12.72 on Wednesday. The firm’s fifty day simple moving average is $15.40 and its 200 day simple moving average is $15.51. The company has a current ratio of 1.99, a quick ratio of 1.91 and a debt-to-equity ratio of 0.37. NeoGenomics has a twelve month low of $10.69 and a twelve month high of $19.11. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of -20.85 and a beta of 1.23.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings data on Tuesday, February 18th. The medical research company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). NeoGenomics had a negative return on equity of 2.11% and a negative net margin of 12.07%. The company had revenue of $172.00 million for the quarter, compared to analyst estimates of $173.40 million. As a group, equities research analysts expect that NeoGenomics will post -0.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NeoGenomics

A number of hedge funds have recently bought and sold shares of NEO. Creative Planning lifted its holdings in NeoGenomics by 42.3% during the 3rd quarter. Creative Planning now owns 23,547 shares of the medical research company’s stock worth $347,000 after buying an additional 7,004 shares during the last quarter. Blue Trust Inc. raised its position in shares of NeoGenomics by 42.3% during the 3rd quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock valued at $46,000 after acquiring an additional 987 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in NeoGenomics by 5.0% during the third quarter. Nisa Investment Advisors LLC now owns 45,104 shares of the medical research company’s stock worth $665,000 after purchasing an additional 2,166 shares during the last quarter. Fernwood Investment Management LLC boosted its holdings in NeoGenomics by 1.0% in the third quarter. Fernwood Investment Management LLC now owns 89,500 shares of the medical research company’s stock worth $1,320,000 after purchasing an additional 900 shares during the period. Finally, Los Angeles Capital Management LLC bought a new stake in NeoGenomics during the third quarter valued at $1,101,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

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.