NeoGenomics (NASDAQ:NEO) Issues FY 2024 Earnings Guidance

NeoGenomics (NASDAQ:NEO) updated its FY 2024 earnings guidance on Friday. 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.

NeoGenomics Trading Down 16.0 %

NEO stock traded down $2.97 during trading on Friday, hitting $15.64. The company had a trading volume of 235,450 shares, compared to its average volume of 530,241. NeoGenomics has a 52-week low of $12.77 and a 52-week high of $19.11. The company has a 50 day simple moving average of $16.81 and a 200-day simple moving average of $15.63. The firm has a market capitalization of $2.01 billion, a P/E ratio of -25.64 and a beta of 1.24. The company has a quick ratio of 1.91, a current ratio of 1.99 and a debt-to-equity ratio of 0.37.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings data on Tuesday, November 5th. The medical research company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.01 by $0.04. NeoGenomics had a negative return on equity of 2.11% and a negative net margin of 12.07%. The company 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 business posted ($0.06) EPS. NeoGenomics’s quarterly revenue was up 10.5% on a year-over-year basis. As a group, research analysts forecast that NeoGenomics will post -0.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

NEO has been the topic of a number of research reports. Needham & Company LLC reissued a “buy” rating and set a $19.00 target price on shares of NeoGenomics in a research report on Wednesday, November 6th. Jefferies Financial Group assumed coverage on shares of NeoGenomics in a report on Tuesday, December 10th. They set a “buy” rating and a $22.00 price objective on the stock. Bank of America upped their target price on NeoGenomics from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Finally, Benchmark reiterated a “buy” rating and issued a $18.00 price target on shares of NeoGenomics in a 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.30.

Insider Activity at NeoGenomics

In related news, General Counsel Alicia C. Olivo sold 5,175 shares of the business’s stock in a transaction 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 transaction, the general counsel now directly owns 37,129 shares in the company, valued at $570,301.44. The trade was a 12.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.30% of the stock is currently owned by insiders.

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.