FY2024 Earnings Forecast for NeoGenomics, Inc. Issued By William Blair (NASDAQ:NEO)

NeoGenomics, Inc. (NASDAQ:NEO) – Investment analysts at William Blair lifted their FY2024 earnings per share estimates for shares of NeoGenomics in a note issued to investors on Tuesday, September 24th. William Blair analyst A. Brackmann now anticipates that the medical research company will post earnings of ($0.21) per share for the year, up from their prior estimate of ($0.24). The consensus estimate for NeoGenomics’ current full-year earnings is ($0.22) per share. William Blair also issued estimates for NeoGenomics’ Q4 2024 earnings at ($0.05) EPS, Q1 2025 earnings at ($0.03) EPS, Q2 2025 earnings at ($0.02) EPS and FY2025 earnings at ($0.08) EPS.

Several other brokerages have also recently issued reports on NEO. Benchmark reissued a “buy” rating and issued a $18.00 price objective on shares of NeoGenomics in a report on Tuesday, September 24th. Stephens reissued an “overweight” rating and issued a $19.00 price objective on shares of NeoGenomics in a report on Tuesday, July 30th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $19.00 price objective on shares of NeoGenomics in a report on Wednesday. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, NeoGenomics presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.89.

NeoGenomics Stock Performance

Shares of NEO stock opened at $14.50 on Friday. The stock has a market cap of $1.85 billion, a PE ratio of -21.97 and a beta of 1.19. The business has a 50-day simple moving average of $16.06 and a 200-day simple moving average of $14.93. The company has a quick ratio of 1.93, a current ratio of 2.01 and a debt-to-equity ratio of 0.37. NeoGenomics has a 52-week low of $11.03 and a 52-week high of $21.22.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings results on Monday, July 29th. The medical research company reported $0.03 EPS for the quarter. The company had revenue of $164.50 million during the quarter, compared to analysts’ expectations of $161.82 million. NeoGenomics had a negative return on equity of 2.72% and a negative net margin of 12.50%. The firm’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.09) EPS.

Hedge Funds Weigh In On NeoGenomics

Institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. increased its stake in shares of NeoGenomics by 107.2% in the 2nd quarter. Blue Trust Inc. now owns 2,331 shares of the medical research company’s stock valued at $32,000 after purchasing an additional 1,206 shares in the last quarter. Burkett Financial Services LLC purchased a new stake in NeoGenomics during the 4th quarter worth approximately $46,000. Canada Pension Plan Investment Board purchased a new stake in NeoGenomics during the 2nd quarter worth approximately $57,000. PNC Financial Services Group Inc. increased its stake in NeoGenomics by 27.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,434 shares of the medical research company’s stock worth $136,000 after buying an additional 1,791 shares in the last quarter. Finally, Banque Cantonale Vaudoise increased its stake in NeoGenomics by 10.2% during the 2nd quarter. Banque Cantonale Vaudoise now owns 17,575 shares of the medical research company’s stock worth $244,000 after buying an additional 1,633 shares in the last quarter. Hedge funds and other 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.