NeoGenomics (NASDAQ:NEO) Releases Earnings Results

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

NeoGenomics Trading Up 1.3 %

NEO stock opened at $17.50 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 7.22 and a current ratio of 7.48. NeoGenomics has a 52-week low of $11.03 and a 52-week high of $21.22. The stock’s fifty day simple moving average is $13.97 and its 200-day simple moving average is $14.69.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NEO shares. Needham & Company LLC reissued a “buy” rating and issued a $19.00 price objective on shares of NeoGenomics in a research note on Tuesday. TD Cowen cut their price objective on NeoGenomics from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Craig Hallum began coverage on NeoGenomics in a report on Wednesday, May 1st. They set a “buy” rating and a $26.00 target price on the stock. Benchmark reissued a “buy” rating and issued a $18.00 price target on shares of NeoGenomics in a report on Tuesday. Finally, BTIG Research decreased their price objective on NeoGenomics from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. 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.com, NeoGenomics presently has an average rating of “Moderate Buy” and an average price target of $19.89.

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.