Needham & Company LLC Issues Pessimistic Forecast for NeoGenomics (NASDAQ:NEO) Stock Price

NeoGenomics (NASDAQ:NEO) had its target price cut by analysts at Needham & Company LLC from $19.00 to $18.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. Needham & Company LLC’s target price points to a potential upside of 51.77% from the company’s previous close.

A number of other brokerages also recently commented on NEO. Bank of America lifted their price objective on shares of NeoGenomics from $18.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Benchmark downgraded shares of NeoGenomics from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Jefferies Financial Group began coverage on shares of NeoGenomics in a report on Tuesday, December 10th. They set a “buy” rating and a $22.00 target price for the company. Finally, The Goldman Sachs Group reduced their target price on shares of NeoGenomics from $20.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.80.

NeoGenomics Stock Performance

Shares of NEO opened at $11.86 on Wednesday. The firm has a 50-day moving average of $15.28 and a 200-day moving average of $15.49. NeoGenomics has a one year low of $10.69 and a one year high of $19.11. The company has a market cap of $1.52 billion, a PE ratio of -19.13 and a beta of 1.23. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.99 and a quick ratio of 1.91.

NeoGenomics (NASDAQ:NEO) last announced 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 net margin of 11.92% and a negative return on equity of 2.09%. The firm had revenue of $172.00 million during the quarter, compared to the consensus estimate of $173.40 million. As a group, equities analysts forecast that NeoGenomics will post -0.05 earnings per share for the current year.

Institutional Trading of NeoGenomics

Several hedge funds and other institutional investors have recently bought and sold shares of NEO. Loomis Sayles & Co. L P acquired a new stake in NeoGenomics in the 3rd quarter worth about $17,807,000. Segall Bryant & Hamill LLC raised its stake in NeoGenomics by 67.0% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,893,407 shares of the medical research company’s stock worth $27,928,000 after purchasing an additional 759,524 shares in the last quarter. Bellevue Group AG raised its position in shares of NeoGenomics by 34.2% in the 3rd quarter. Bellevue Group AG now owns 1,612,612 shares of the medical research company’s stock valued at $23,786,000 after buying an additional 410,516 shares in the last quarter. Norges Bank acquired a new position in shares of NeoGenomics in the 4th quarter valued at approximately $6,273,000. Finally, Jennison Associates LLC raised its position in shares of NeoGenomics by 18.7% in 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. 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.