NeoGenomics (NASDAQ:NEO) Releases FY 2024 Earnings Guidance

NeoGenomics (NASDAQ:NEO) issued an update on its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 0.080-0.100 for the period, compared to the consensus 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.

Analysts Set New Price Targets

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

NeoGenomics Stock Down 20.6 %

NASDAQ NEO opened at $14.77 on Friday. The business has a fifty day moving average price of $16.82 and a 200 day moving average price of $15.64. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.91 and a current ratio of 1.99. The company has a market cap of $1.90 billion, a P/E ratio of -24.21 and a beta of 1.24. NeoGenomics has a one year low of $12.77 and a one year high of $19.11.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Tuesday, November 5th. The medical research company reported $0.05 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $167.00 million. During the same period last year, the firm posted ($0.06) earnings per share. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. Research analysts anticipate that NeoGenomics will post -0.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Alicia C. Olivo sold 5,175 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $15.36, for a total transaction of $79,488.00. Following the completion of the sale, the general counsel now owns 37,129 shares in the company, valued at $570,301.44. This trade represents a 12.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

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.