NeoGenomics (NASDAQ:NEO) Posts Earnings Results

NeoGenomics (NASDAQ:NEO) announced its quarterly earnings results on Tuesday. The medical research company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04, Briefing.com reports. NeoGenomics had a negative return on equity of 2.72% and a negative net margin of 12.50%. The company had revenue of $167.80 million during the quarter, compared to analysts’ expectations of $167.00 million. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. NeoGenomics updated its FY 2024 guidance to 0.080-0.100 EPS.

NeoGenomics Price Performance

Shares of NASDAQ:NEO traded up $0.36 during midday trading on Thursday, reaching $15.82. 940,050 shares of the company’s stock were exchanged, compared to its average volume of 820,345. The company’s 50 day simple moving average is $14.71 and its two-hundred day simple moving average is $14.73. The firm has a market capitalization of $2.03 billion, a PE ratio of -24.94 and a beta of 1.19. NeoGenomics has a 12 month low of $12.77 and a 12 month high of $21.22. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.93 and a current ratio of 2.01.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Benchmark reissued a “buy” rating and set a $18.00 price objective on shares of NeoGenomics in a research report on Tuesday, September 24th. Needham & Company LLC reissued a “buy” rating and set a $19.00 price objective on shares of NeoGenomics in a research report on Wednesday. Finally, Stephens reissued an “overweight” rating and set a $19.00 price objective on shares of NeoGenomics in a research report on Tuesday, July 30th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $19.89.

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.