NeoGenomics (NASDAQ:NEO) Issues Earnings Results

NeoGenomics (NASDAQ:NEO) announced its earnings results on Monday. The medical research company reported $0.03 earnings per share (EPS) for the quarter, Briefing.com reports. NeoGenomics had a negative return on equity of 3.54% and a negative net margin of 13.79%. The company had revenue of $164.50 million for the quarter, compared to analyst estimates of $161.82 million. During the same quarter in the previous year, the company earned ($0.09) earnings per share. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. NeoGenomics updated its FY 2024 guidance to 0.020-0.070 EPS.

NeoGenomics Stock Up 16.9 %

Shares of NEO stock traded up $2.48 on Tuesday, reaching $17.12. 852,728 shares of the stock were exchanged, compared to its average volume of 836,889. The company has a current ratio of 7.48, a quick ratio of 7.22 and a debt-to-equity ratio of 0.58. NeoGenomics has a twelve month low of $11.03 and a twelve month high of $21.22. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of -26.95 and a beta of 1.19. The business’s 50 day moving average price is $13.93 and its 200 day moving average price is $14.68.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NEO. BTIG Research cut their price objective on NeoGenomics from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Craig Hallum began coverage on NeoGenomics in a research report on Wednesday, May 1st. They set a “buy” rating and a $26.00 price objective on the stock. Benchmark reaffirmed a “buy” rating and set a $18.00 price objective on shares of NeoGenomics in a research report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price objective on shares of NeoGenomics in a research report on Tuesday. Finally, TD Cowen cut their price objective on NeoGenomics from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, NeoGenomics currently has an average rating of “Moderate Buy” and an average price target of $19.78.

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.