Piper Sandler Has Lowered Expectations for NeoGenomics (NASDAQ:NEO) Stock Price

NeoGenomics (NASDAQ:NEO) had its price target decreased by research analysts at Piper Sandler from $21.00 to $18.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the medical research company’s stock. Piper Sandler’s target price would suggest a potential upside of 83.30% from the company’s current price.

Several other equities analysts have also recently weighed in on the company. The Goldman Sachs Group cut their price target on NeoGenomics from $20.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Jefferies Financial Group assumed coverage on shares of NeoGenomics in a research report on Tuesday, December 10th. They issued a “buy” rating and a $22.00 price target on the stock. Needham & Company LLC lowered their price objective on shares of NeoGenomics from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Bank of America dropped their price objective on shares of NeoGenomics from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Finally, Benchmark cut shares of NeoGenomics from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $19.60.

NeoGenomics Price Performance

NEO stock opened at $9.82 on Wednesday. NeoGenomics has a one year low of $9.66 and a one year high of $19.11. The company’s fifty day moving average price is $14.62 and its 200-day moving average price is $15.29. 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 company has a market capitalization of $1.26 billion, a PE ratio of -15.84 and a beta of 1.23.

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

Institutional Trading of NeoGenomics

Several institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its stake in shares of 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 acquiring an additional 770 shares during the last quarter. Summit Investment Advisors Inc. lifted its position in shares of NeoGenomics by 6.9% during the fourth 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 during the last quarter. Fernwood Investment Management LLC boosted its stake in shares of NeoGenomics by 1.0% during the third quarter. Fernwood Investment Management LLC now owns 89,500 shares of the medical research company’s stock valued at $1,320,000 after purchasing an additional 900 shares during the period. FMR LLC grew its holdings in shares of NeoGenomics by 7.6% in the third quarter. FMR LLC now owns 13,255 shares of the medical research company’s stock worth $196,000 after purchasing an additional 931 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in NeoGenomics by 42.3% in the 3rd quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock worth $46,000 after buying an additional 987 shares during the period. 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.