NeoGenomics (NASDAQ:NEO) Updates FY 2024 Earnings Guidance

NeoGenomics (NASDAQ:NEO) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 0.080-0.100 for the period, compared to the consensus estimate of 0.060. The company issued revenue guidance of $655.0 million-$667.0 million, compared to the consensus revenue estimate of $661.7 million.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NEO. Benchmark reaffirmed a “buy” rating and set a $18.00 target price on shares of NeoGenomics in a report on Tuesday, September 24th. Needham & Company LLC restated a “buy” rating and issued a $19.00 price objective on shares of NeoGenomics in a research report on Wednesday. Finally, Stephens reissued an “overweight” rating and issued a $19.00 target price on shares of NeoGenomics in a report on Tuesday, July 30th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.89.

NeoGenomics Stock Performance

Shares of NEO traded down $0.08 during midday trading on Friday, reaching $15.74. 62,458 shares of the stock were exchanged, compared to its average volume of 816,852. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of -25.52 and a beta of 1.19. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.01 and a quick ratio of 1.93. NeoGenomics has a twelve month low of $12.77 and a twelve month high of $21.22. The business’s 50-day moving average price is $14.69 and its 200 day moving average price is $14.73.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Tuesday, November 5th. The medical research company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. NeoGenomics had a negative return on equity of 2.72% and a negative net margin of 12.50%. The firm 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 earned ($0.06) EPS. The firm’s revenue was up 10.5% compared to the same quarter last year. On average, sell-side analysts expect that NeoGenomics will post -0.21 EPS for the current fiscal year.

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.