NeoGenomics (NASDAQ:NEO) Releases FY 2024 Earnings Guidance

NeoGenomics (NASDAQ:NEO) issued an update on 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 Stock Performance

NEO stock traded down $2.62 during trading hours on Friday, reaching $15.99. The stock had a trading volume of 358,485 shares, compared to its average volume of 544,531. The stock has a 50-day simple moving average of $16.81 and a 200 day simple moving average of $15.63. NeoGenomics has a fifty-two week low of $12.77 and a fifty-two week high of $19.11. The stock has a market capitalization of $2.05 billion, a PE ratio of -26.21 and a beta of 1.24. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.99 and a quick ratio of 1.91.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results 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. The business had revenue of $167.80 million during the quarter, compared to analysts’ expectations of $167.00 million. NeoGenomics had a negative return on equity of 2.11% and a negative net margin of 12.07%. NeoGenomics’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.06) earnings per share. Analysts predict that NeoGenomics will post -0.16 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Needham & Company LLC reiterated a “buy” rating and set a $19.00 price objective on shares of NeoGenomics in a research report on Wednesday, November 6th. Jefferies Financial Group assumed coverage on NeoGenomics in a report on Tuesday, December 10th. They issued a “buy” rating and a $22.00 price objective for the company. Benchmark reissued a “buy” rating and set a $18.00 target price on shares of NeoGenomics in a report on Tuesday, September 24th. Finally, Bank of America boosted their price target on NeoGenomics from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.30.

Insiders Place Their Bets

In related news, General Counsel Alicia C. Olivo sold 5,175 shares of NeoGenomics stock in a transaction that occurred on Friday, November 15th. The shares were 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 in the company, valued at $570,301.44. This trade represents a 12.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.30% 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.