Leerink Partnrs Weighs in on NeoGenomics FY2024 Earnings

NeoGenomics, Inc. (NASDAQ:NEO) – Investment analysts at Leerink Partnrs raised their FY2024 earnings per share estimates for shares of NeoGenomics in a research report issued to clients and investors on Tuesday, January 7th. Leerink Partnrs analyst P. Souda now anticipates that the medical research company will post earnings per share of ($0.15) for the year, up from their previous forecast of ($0.16). The consensus estimate for NeoGenomics’ current full-year earnings is ($0.16) per share. Leerink Partnrs also issued estimates for NeoGenomics’ Q4 2024 earnings at ($0.03) EPS, Q1 2025 earnings at ($0.02) EPS, Q2 2025 earnings at ($0.01) EPS, Q3 2025 earnings at ($0.01) EPS, Q4 2025 earnings at $0.00 EPS and FY2025 earnings at ($0.04) EPS.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings results on Tuesday, November 5th. The medical research company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.04. The company had revenue of $167.80 million during the quarter, compared to analysts’ expectations of $167.00 million. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.06) earnings per share.

Other equities research analysts have also recently issued reports about the company. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price target on shares of NeoGenomics in a research note on Wednesday, November 6th. Jefferies Financial Group began coverage on shares of NeoGenomics in a research report on Tuesday, December 10th. They set a “buy” rating and a $22.00 price target on the stock. Benchmark restated a “buy” rating and set a $18.00 price objective on shares of NeoGenomics in a research report on Tuesday, September 24th. Finally, Bank of America boosted their price target on NeoGenomics from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.30.

NeoGenomics Trading Up 1.4 %

Shares of NeoGenomics stock opened at $18.61 on Thursday. The stock has a market cap of $2.39 billion, a P/E ratio of -30.51 and a beta of 1.24. The company has a quick ratio of 1.91, a current ratio of 1.99 and a debt-to-equity ratio of 0.37. NeoGenomics has a 12-month low of $12.77 and a 12-month high of $19.12. The business’s 50 day moving average is $16.70 and its 200-day moving average is $15.61.

Insider Activity at NeoGenomics

In other news, General Counsel Alicia C. Olivo sold 5,175 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $15.36, for a total value of $79,488.00. Following the completion of the sale, the general counsel now owns 37,129 shares of the company’s stock, valued at approximately $570,301.44. The trade was a 12.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NeoGenomics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Nordea Investment Management AB lifted its position in NeoGenomics by 2.8% during the fourth 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. Versant Capital Management Inc boosted its stake 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 worth $30,000 after acquiring an additional 1,142 shares in the last quarter. Franklin Resources Inc. boosted its stake in NeoGenomics by 2.0% during the third quarter. Franklin Resources Inc. now owns 2,043,840 shares of the medical research company’s stock worth $28,225,000 after acquiring an additional 39,740 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of NeoGenomics by 1.2% during the third quarter. Geode Capital Management LLC now owns 3,051,806 shares of the medical research company’s stock valued at $45,022,000 after purchasing an additional 36,136 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of NeoGenomics by 1.6% during the third quarter. State Street Corp now owns 4,958,582 shares of the medical research company’s stock valued at $73,139,000 after purchasing an additional 80,449 shares during the last quarter. 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.