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

NeoGenomics (NASDAQ:NEO) issued its earnings results on Tuesday. The medical research company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04, Briefing.com reports. The business had revenue of $167.80 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. 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 Stock Up 2.3 %

NEO traded up $0.36 during trading on Thursday, reaching $15.82. 940,050 shares of the stock traded hands, compared to its average volume of 820,345. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of -24.94 and a beta of 1.19. NeoGenomics has a fifty-two week low of $12.77 and a fifty-two week high of $21.22. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.01 and a quick ratio of 1.93. The stock’s 50-day simple moving average is $14.71 and its two-hundred day simple moving average is $14.73.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NEO shares. Stephens restated an “overweight” rating and issued a $19.00 target price on shares of NeoGenomics in a report on Tuesday, July 30th. Needham & Company LLC reiterated a “buy” rating and set a $19.00 price target on shares of NeoGenomics in a report on Wednesday. Finally, Benchmark reiterated a “buy” rating and set a $18.00 price target on shares of NeoGenomics in a report on Tuesday, September 24th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.