NeoGenomics (NASDAQ:NEO) Issues FY 2024 Earnings Guidance

NeoGenomics (NASDAQ:NEO) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 0.000-0.040 for the period, compared to the consensus EPS estimate of -0.010. The company issued revenue guidance of $650.0 million-$660.0 million, compared to the consensus revenue estimate of $654.6 million.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group upped their price target on NeoGenomics from $17.00 to $19.00 and gave the stock a buy rating in a report on Thursday, February 22nd. William Blair reiterated an outperform rating on shares of NeoGenomics in a research note on Wednesday, February 21st. Needham & Company LLC raised their price target on shares of NeoGenomics from $21.00 to $24.00 and gave the company a buy rating in a research report on Wednesday, February 21st. Finally, Piper Sandler upped their price objective on shares of NeoGenomics from $18.00 to $20.00 and gave the stock an overweight rating in a research report on Monday, February 26th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $19.50.

NeoGenomics Stock Performance

Shares of NASDAQ NEO traded down $1.22 during mid-day trading on Tuesday, hitting $14.00. The company had a trading volume of 499,630 shares, compared to its average volume of 906,478. The company has a current ratio of 6.20, a quick ratio of 5.95 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of -20.06 and a beta of 1.10. NeoGenomics has a 1 year low of $11.03 and a 1 year high of $21.22. The stock’s 50-day moving average price is $15.05 and its 200-day moving average price is $15.96.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings results on Tuesday, February 20th. The medical research company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.05. NeoGenomics had a negative net margin of 14.87% and a negative return on equity of 4.13%. The firm had revenue of $155.55 million for the quarter, compared to analysts’ expectations of $152.90 million. On average, sell-side analysts forecast that NeoGenomics will post -0.2 earnings per share for the current year.

Insider Activity at NeoGenomics

In related news, General Counsel Alicia C. Olivo sold 2,587 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $14.96, for a total transaction of $38,701.52. Following the transaction, the general counsel now directly owns 34,866 shares of the company’s stock, valued at approximately $521,595.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.30% of the stock is owned by insiders.

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.