NeoGenomics (NASDAQ:NEO) Updates FY 2024 Earnings Guidance

NeoGenomics (NASDAQ:NEO) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 0.080-0.100 for the period, compared to the consensus earnings per share estimate of 0.100. The company issued revenue guidance of $655.0 million-$667.0 million, compared to the consensus revenue estimate of $662.0 million.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Bank of America boosted their price objective on NeoGenomics from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Needham & Company LLC reissued a “buy” rating and issued a $19.00 price target on shares of NeoGenomics in a research note on Friday. Jefferies Financial Group started coverage on shares of NeoGenomics in a research report on Tuesday, December 10th. They set a “buy” rating and a $22.00 price objective for the company. Finally, Benchmark reiterated a “buy” rating and set a $18.00 target price on shares of NeoGenomics in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.30.

NeoGenomics Stock Performance

NEO opened at $14.77 on Friday. NeoGenomics has a 1-year low of $12.77 and a 1-year high of $19.11. The company has a market cap of $1.90 billion, a price-to-earnings ratio of -24.21 and a beta of 1.24. The company’s fifty day moving average price is $16.82 and its two-hundred day moving average price is $15.66. The company has a current ratio of 1.99, a quick ratio of 1.91 and a debt-to-equity ratio of 0.37.

NeoGenomics (NASDAQ:NEO) last posted its earnings results on Tuesday, November 5th. The medical research company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The company had revenue of $167.80 million for the quarter, compared to analyst estimates of $167.00 million. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. The firm’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.06) EPS. On average, analysts expect that NeoGenomics will post -0.16 EPS for the current fiscal year.

Insider Activity

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 5,175 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $15.36, for a total value of $79,488.00. Following the completion of the sale, the general counsel now directly owns 37,129 shares of the company’s stock, valued at approximately $570,301.44. This represents a 12.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

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.