NeoGenomics, Inc. (NASDAQ:NEO) Expected to Post Quarterly Sales of $126.27 Million

Brokerages expect that NeoGenomics, Inc. (NASDAQ:NEO) will report $126.27 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for NeoGenomics’ earnings, with the highest sales estimate coming in at $127.20 million and the lowest estimate coming in at $125.14 million. NeoGenomics reported sales of $125.44 million in the same quarter last year, which indicates a positive year-over-year growth rate of 0.7%. The business is scheduled to announce its next earnings results on Tuesday, October 26th.

According to Zacks, analysts expect that NeoGenomics will report full year sales of $500.00 million for the current fiscal year, with estimates ranging from $498.03 million to $502.66 million. For the next financial year, analysts expect that the firm will report sales of $582.10 million, with estimates ranging from $569.26 million to $594.13 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for NeoGenomics.

A number of equities analysts have recently commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $55.00 price target on shares of NeoGenomics in a report on Monday, August 9th. Zacks Investment Research raised shares of NeoGenomics from a “sell” rating to a “hold” rating in a report on Tuesday, August 17th. Morgan Stanley reduced their target price on shares of NeoGenomics from $64.00 to $58.00 and set an “overweight” rating on the stock in a report on Monday, August 9th. Benchmark increased their target price on shares of NeoGenomics from $46.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, August 26th. Finally, The Goldman Sachs Group started coverage on shares of NeoGenomics in a report on Thursday, June 3rd. They set a “buy” rating and a $55.00 target price on the stock. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, NeoGenomics has an average rating of “Buy” and a consensus price target of $52.28.

NeoGenomics stock traded up $1.21 during midday trading on Friday, reaching $52.52. 998,446 shares of the stock were exchanged, compared to its average volume of 811,515. The company’s fifty day moving average is $45.88 and its 200-day moving average is $45.52. The firm has a market cap of $6.46 billion, a PE ratio of 92.14 and a beta of 0.68. NeoGenomics has a 52 week low of $34.18 and a 52 week high of $61.57. The company has a debt-to-equity ratio of 0.46, a quick ratio of 7.07 and a current ratio of 7.28.

Several hedge funds have recently made changes to their positions in the company. Parametric Portfolio Associates LLC grew its stake in shares of NeoGenomics by 4.5% in the second quarter. Parametric Portfolio Associates LLC now owns 235,441 shares of the medical research company’s stock worth $10,635,000 after acquiring an additional 10,090 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of NeoGenomics by 0.4% in the second quarter. Thrivent Financial for Lutherans now owns 96,405 shares of the medical research company’s stock worth $4,355,000 after buying an additional 343 shares during the last quarter. Metropolitan Life Insurance Co NY boosted its holdings in shares of NeoGenomics by 105,910.3% in the second quarter. Metropolitan Life Insurance Co NY now owns 30,743 shares of the medical research company’s stock worth $1,389,000 after buying an additional 30,714 shares during the last quarter. Man Group plc boosted its holdings in shares of NeoGenomics by 1.9% in the second quarter. Man Group plc now owns 97,473 shares of the medical research company’s stock worth $4,402,000 after buying an additional 1,787 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of NeoGenomics by 0.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,559,047 shares of the medical research company’s stock worth $70,422,000 after buying an additional 6,811 shares during the last quarter. Hedge funds and other institutional investors own 82.83% of the company’s stock.

NeoGenomics Company Profile

NeoGenomics, Inc is a clinical laboratory company, which engages in cancer genetics diagnostic testing and pharma services. It operates through the Clinical Services and Pharma Services segments. The Clinical Services segment offers cancer testing services to community-based pathologists, hospitals, academic centers, and oncology groups.

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Earnings History and Estimates for NeoGenomics (NASDAQ:NEO)

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