NeoGenomics (NASDAQ:NEO) Stock Rating Lowered by Leerink Partners

NeoGenomics (NASDAQ:NEO - Get Free Report) was downgraded by equities research analysts at Leerink Partners from an "outperform" rating to a "market perform" rating in a report released on Wednesday, MarketBeat.com reports. They presently have a $9.00 price objective on the medical research company's stock, down from their previous price objective of $25.00. Leerink Partners' price objective points to a potential upside of 16.88% from the company's previous close.

NEO has been the subject of a number of other research reports. Piper Sandler decreased their target price on shares of NeoGenomics from $21.00 to $18.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Bank of America decreased their price objective on shares of NeoGenomics from $19.00 to $16.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. Benchmark downgraded NeoGenomics from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. The Goldman Sachs Group lowered their price target on NeoGenomics from $17.00 to $15.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Finally, Needham & Company LLC cut their price objective on NeoGenomics from $18.00 to $8.50 and set a "buy" rating for the company in a report on Tuesday, April 29th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $14.50.

NeoGenomics Stock Performance

NeoGenomics stock traded up $0.44 during midday trading on Wednesday, reaching $7.70. 3,644,552 shares of the stock traded hands, compared to its average volume of 1,076,374. The firm has a fifty day moving average price of $9.40 and a two-hundred day moving average price of $13.26. NeoGenomics has a fifty-two week low of $6.08 and a fifty-two week high of $19.12. The firm has a market cap of $990.66 million, a price-to-earnings ratio of -12.42 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.

NeoGenomics (NASDAQ:NEO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.06). The business 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 quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company earned ($0.02) earnings per share. On average, equities research analysts forecast that NeoGenomics will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in shares of NeoGenomics in the 4th quarter valued at approximately $26,000. Versant Capital Management Inc lifted its holdings in shares of NeoGenomics by 174.9% in 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 in the last quarter. Sterling Capital Management LLC grew 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 valued at $61,000 after buying an additional 3,289 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of NeoGenomics by 203.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,156 shares of the medical research company's stock valued at $70,000 after buying an additional 2,787 shares in the last quarter. Finally, Blue Trust Inc. raised its position in NeoGenomics by 33.2% during the fourth quarter. Blue Trust Inc. now owns 4,421 shares of the medical research company's stock valued at $73,000 after buying an additional 1,103 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

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.