NeoGenomics (NASDAQ:NEO) Lowered to "Hold" Rating by Leerink Partnrs

NeoGenomics (NASDAQ:NEO - Get Free Report) was downgraded by equities researchers at Leerink Partnrs from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other equities analysts have also weighed in on NEO. Bank of America dropped their price objective on NeoGenomics from $19.00 to $16.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. Piper Sandler dropped their price target on NeoGenomics from $21.00 to $18.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. The Goldman Sachs Group lowered their target price on shares of NeoGenomics from $15.00 to $10.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Benchmark downgraded shares of NeoGenomics from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Finally, Leerink Partners lowered NeoGenomics from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $25.00 to $9.00 in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $13.83.

NeoGenomics Stock Performance

NeoGenomics stock traded up $0.26 during trading on Wednesday, reaching $8.10. The company had a trading volume of 988,583 shares, compared to its average volume of 1,773,306. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of -13.07 and a beta of 1.41. The company has a current ratio of 1.98, a quick ratio of 1.91 and a debt-to-equity ratio of 0.38. The firm's 50-day simple moving average is $9.35 and its 200 day simple moving average is $13.22. NeoGenomics has a 52 week low of $6.08 and a 52 week high of $19.11.

NeoGenomics (NASDAQ:NEO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The medical research company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.06). The firm had revenue of $168.04 million during the quarter, compared to the consensus estimate of $171.38 million. NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.02) earnings per share. Sell-side analysts forecast that NeoGenomics will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NeoGenomics

Institutional investors have recently modified their holdings of the stock. Nordea Investment Management AB raised its holdings in NeoGenomics by 2.8% during the 4th quarter. Nordea Investment Management AB now owns 77,534 shares of the medical research company's stock valued at $1,301,000 after buying an additional 2,125 shares during the period. Swiss National Bank raised its stake in shares of NeoGenomics by 1.0% in the fourth quarter. Swiss National Bank now owns 252,100 shares of the medical research company's stock valued at $4,155,000 after acquiring an additional 2,600 shares during the period. Jennison Associates LLC raised its stake in shares of NeoGenomics by 18.7% in the fourth quarter. Jennison Associates LLC now owns 1,514,756 shares of the medical research company's stock valued at $24,963,000 after acquiring an additional 238,288 shares during the period. Rhumbline Advisers lifted its holdings in shares of NeoGenomics by 2.4% in the 4th quarter. Rhumbline Advisers now owns 389,003 shares of the medical research company's stock worth $6,411,000 after acquiring an additional 9,098 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of NeoGenomics by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,161,352 shares of the medical research company's stock worth $19,139,000 after purchasing an additional 26,701 shares during the period. 98.50% of the stock is owned by institutional investors.

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.