Bank of America Issues Pessimistic Forecast for NeoGenomics (NASDAQ:NEO) Stock Price

NeoGenomics (NASDAQ:NEO) had its price target decreased by investment analysts at Bank of America from $19.00 to $16.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the medical research company’s stock. Bank of America‘s price target points to a potential upside of 29.03% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Jefferies Financial Group assumed coverage on NeoGenomics in a report on Tuesday, December 10th. They set a “buy” rating and a $22.00 price objective on the stock. Needham & Company LLC decreased their target price on shares of NeoGenomics from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday. The Goldman Sachs Group decreased their target price 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, Benchmark cut shares of NeoGenomics from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.80.

NeoGenomics Stock Performance

Shares of NASDAQ:NEO opened at $12.40 on Wednesday. NeoGenomics has a twelve month low of $10.69 and a twelve month high of $19.11. The firm has a market cap of $1.59 billion, a PE ratio of -20.33 and a beta of 1.23. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.91 and a current ratio of 1.99. The business has a fifty day moving average of $15.63 and a 200-day moving average of $15.57.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Tuesday, February 18th. The medical research company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. On average, equities research analysts predict that NeoGenomics will post -0.16 EPS for the current fiscal year.

Institutional Investors Weigh In On NeoGenomics

A number of hedge funds and other institutional investors have recently modified their holdings of NEO. SBI Securities Co. Ltd. acquired a new stake in shares of NeoGenomics during the fourth quarter worth $26,000. Versant Capital Management Inc lifted its holdings in shares of NeoGenomics by 174.9% during the fourth quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company’s stock worth $30,000 after buying an additional 1,142 shares in the last quarter. Quarry LP acquired a new stake in shares of NeoGenomics during the third quarter worth $40,000. Blue Trust Inc. lifted its holdings 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 worth $46,000 after buying an additional 987 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its holdings in shares of NeoGenomics by 788.7% during the fourth quarter. Sterling Capital Management LLC now owns 3,706 shares of the medical research company’s stock worth $61,000 after buying an additional 3,289 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.