NeoGenomics (NASDAQ:NEO) Issues FY 2024 Earnings Guidance

NeoGenomics (NASDAQ:NEO) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 0.080-0.100 for the period, compared to the consensus estimate of 0.100. The company issued revenue guidance of $655.0 million-$667.0 million, compared to the consensus revenue estimate of $662.0 million.

NeoGenomics Price Performance

Shares of NASDAQ NEO opened at $14.77 on Friday. The company has a fifty day moving average price of $16.82 and a 200 day moving average price of $15.66. The firm has a market cap of $1.90 billion, a PE ratio of -24.21 and a beta of 1.24. The company has a current ratio of 1.99, a quick ratio of 1.91 and a debt-to-equity ratio of 0.37. NeoGenomics has a 1-year low of $12.77 and a 1-year high of $19.11.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Tuesday, November 5th. The medical research company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. The company had revenue of $167.80 million during the quarter, compared to the consensus estimate of $167.00 million. During the same period in the prior year, the business posted ($0.06) EPS. The company’s quarterly revenue was up 10.5% on a year-over-year basis. Research analysts predict that NeoGenomics will post -0.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NEO has been the subject of several research reports. Bank of America raised their price target on NeoGenomics from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Needham & Company LLC restated a “buy” rating and set a $19.00 target price on shares of NeoGenomics in a research note on Friday. Jefferies Financial Group assumed coverage on shares of NeoGenomics in a research note on Tuesday, December 10th. They issued a “buy” rating and a $22.00 price target on the stock. Finally, Benchmark restated a “buy” rating and set a $18.00 price objective on shares of NeoGenomics in a research report on Tuesday, September 24th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $20.30.

Insider Activity at NeoGenomics

In other news, General Counsel Alicia C. Olivo sold 5,175 shares of NeoGenomics stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $15.36, for a total transaction of $79,488.00. Following the sale, the general counsel now directly owns 37,129 shares of the company’s stock, valued at approximately $570,301.44. This trade represents a 12.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.

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.