NeoGenomics (NASDAQ:NEO) Announces Earnings Results

NeoGenomics (NASDAQ:NEO) issued its earnings results on Tuesday. The medical research company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04, Briefing.com reports. The firm had revenue of $167.80 million for the quarter, compared to the consensus estimate of $167.00 million. NeoGenomics had a negative return on equity of 2.72% and a negative net margin of 12.50%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.06) earnings per share. NeoGenomics updated its FY 2024 guidance to 0.080-0.100 EPS.

NeoGenomics Stock Performance

Shares of NASDAQ NEO traded up $0.36 during trading hours on Thursday, hitting $15.82. 940,050 shares of the company’s stock were exchanged, compared to its average volume of 820,345. The company’s 50-day moving average price is $14.71 and its 200-day moving average price is $14.73. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.01 and a quick ratio of 1.93. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of -24.94 and a beta of 1.19. NeoGenomics has a 1-year low of $12.77 and a 1-year high of $21.22.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Benchmark reiterated a “buy” rating and set a $18.00 price target on shares of NeoGenomics in a research note on Tuesday, September 24th. Needham & Company LLC reiterated a “buy” rating and set a $19.00 price target on shares of NeoGenomics in a research note on Wednesday. Finally, Stephens reiterated an “overweight” rating and set a $19.00 price target on shares of NeoGenomics in a research note on Tuesday, July 30th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.