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

NeoGenomics (NASDAQ:NEO) had its target price decreased by analysts at Piper Sandler from $21.00 to $18.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the medical research company’s stock. Piper Sandler’s price target would suggest a potential upside of 69.24% from the stock’s current price.

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

NeoGenomics Price Performance

NEO traded down $0.24 on Wednesday, reaching $10.64. The company had a trading volume of 288,178 shares, compared to its average volume of 1,167,679. NeoGenomics has a 52-week low of $10.62 and a 52-week high of $19.11. 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 business has a 50 day simple moving average of $14.87 and a 200 day simple moving average of $15.37. The company has a market cap of $1.37 billion, a price-to-earnings ratio of -17.17 and a beta of 1.23.

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

Institutional Investors Weigh In On NeoGenomics

Several large investors have recently made changes to their positions in NEO. SBI Securities Co. Ltd. bought a new stake in shares of NeoGenomics in the 4th quarter worth approximately $26,000. Versant Capital Management Inc grew its holdings in NeoGenomics by 174.9% during the fourth quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 1,142 shares during the last quarter. Quarry LP acquired a new stake in shares of NeoGenomics in the third quarter valued at about $40,000. Blue Trust Inc. raised its position in shares of NeoGenomics by 42.3% during the third quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock valued at $46,000 after buying an additional 987 shares during the last quarter. Finally, Sterling Capital Management LLC increased its holdings in NeoGenomics by 788.7% in the 4th quarter. Sterling Capital Management LLC now owns 3,706 shares of the medical research company’s stock valued at $61,000 after buying an additional 3,289 shares during the period. 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.