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 EPS guidance of 0.080-0.100 for the period, compared to the consensus EPS 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.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NEO. Bank of America increased their price target on NeoGenomics from $18.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Benchmark restated a “buy” rating and set a $18.00 price target on shares of NeoGenomics in a report on Tuesday, September 24th. Needham & Company LLC reiterated a “buy” rating and set a $19.00 price objective on shares of NeoGenomics in a research report on Wednesday, November 6th. Finally, Jefferies Financial Group started coverage on NeoGenomics in a research note on Tuesday, December 10th. They issued a “buy” rating and a $22.00 price objective for the company. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.30.

NeoGenomics Price Performance

NASDAQ NEO traded down $2.62 on Friday, reaching $15.99. The company’s stock had a trading volume of 358,485 shares, compared to its average volume of 544,531. NeoGenomics has a 52 week low of $12.77 and a 52 week high of $19.11. The company has a current ratio of 1.99, a quick ratio of 1.91 and a debt-to-equity ratio of 0.37. The firm has a market cap of $2.05 billion, a PE ratio of -26.21 and a beta of 1.24. The business has a 50-day moving average price of $16.81 and a 200 day moving average price of $15.63.

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

Insider Transactions at NeoGenomics

In other news, General Counsel Alicia C. Olivo sold 5,175 shares of NeoGenomics stock in a transaction on Friday, November 15th. The stock was 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 trade represents a 12.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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.