NeoGenomics (NASDAQ:NEO) Releases Earnings Results, Beats Estimates By $0.04 EPS

NeoGenomics (NASDAQ:NEO) issued its quarterly earnings data on Tuesday. The medical research company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04, Briefing.com reports. The firm had revenue of $167.80 million during 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 company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.06) EPS. NeoGenomics updated its FY 2024 guidance to 0.080-0.100 EPS.

NeoGenomics Trading Up 2.3 %

Shares of NEO stock traded up $0.36 during trading hours on Thursday, hitting $15.82. 940,050 shares of the company were exchanged, compared to its average volume of 820,345. NeoGenomics has a 1 year low of $12.77 and a 1 year high of $21.22. The firm has a fifty day moving average of $14.69 and a 200 day moving average of $14.73. The firm has a market cap of $2.03 billion, a PE ratio of -25.52 and a beta of 1.19. The company has a quick ratio of 1.93, a current ratio of 2.01 and a debt-to-equity ratio of 0.37.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NEO. Needham & Company LLC reissued a “buy” rating and issued a $19.00 price target on shares of NeoGenomics in a report on Wednesday. Benchmark restated a “buy” rating and issued a $18.00 target price on shares of NeoGenomics in a report on Tuesday, September 24th. Finally, Stephens reaffirmed an “overweight” rating and set a $19.00 price target on shares of NeoGenomics in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus 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.