NeoGenomics (NASDAQ:NEO) Releases Earnings Results

NeoGenomics (NASDAQ:NEO) posted its earnings results on Monday. The medical research company reported $0.03 EPS for the quarter, Briefing.com reports. NeoGenomics had a negative return on equity of 2.71% and a negative net margin of 12.50%. The firm had revenue of $164.50 million for the quarter, compared to analysts’ expectations of $161.82 million. During the same period last year, the firm earned ($0.09) EPS. The company’s quarterly revenue was up 12.0% on a year-over-year basis. NeoGenomics updated its FY 2024 guidance to 0.020-0.070 EPS.

NeoGenomics Stock Performance

Shares of NASDAQ NEO traded up $0.46 during midday trading on Wednesday, hitting $17.73. The company’s stock had a trading volume of 1,785,008 shares, compared to its average volume of 863,827. NeoGenomics has a 1-year low of $11.03 and a 1-year high of $21.22. The firm’s fifty day moving average price is $13.97 and its 200-day moving average price is $14.69. The company has a debt-to-equity ratio of 0.58, a quick ratio of 7.22 and a current ratio of 7.48. The firm has a market cap of $2.26 billion, a P/E ratio of -27.36 and a beta of 1.19.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. BTIG Research lowered their price objective on NeoGenomics from $23.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Benchmark restated a “buy” rating and set a $18.00 target price on shares of NeoGenomics in a report on Tuesday. Craig Hallum began coverage on shares of NeoGenomics in a research report on Wednesday, May 1st. They set a “buy” rating and a $26.00 price target on the stock. Stephens reaffirmed an “overweight” rating and set a $19.00 price target on shares of NeoGenomics in a research report on Tuesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price target on shares of NeoGenomics in a research report on Tuesday. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NeoGenomics has an average rating of “Moderate Buy” and an average price target of $19.89.

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.