NeoGenomics (NASDAQ:NEO) Releases Earnings Results

NeoGenomics (NASDAQ:NEO) posted its earnings results on Monday. The medical research company reported $0.03 EPS for the quarter, Briefing.com reports. The firm had revenue of $164.50 million during the quarter, compared to the consensus estimate of $161.82 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 12.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.09) EPS. NeoGenomics updated its FY 2024 guidance to 0.020-0.070 EPS.

NeoGenomics Price Performance

Shares of NEO stock opened at $17.69 on Thursday. NeoGenomics has a 1-year low of $11.03 and a 1-year high of $21.22. The stock’s 50-day moving average is $14.04 and its 200 day moving average is $14.71. The company has a market cap of $2.26 billion, a P/E ratio of -26.86 and a beta of 1.19. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.01 and a quick ratio of 7.22.

Wall Street Analysts Forecast Growth

NEO has been the subject of a number of analyst reports. Craig Hallum initiated coverage on NeoGenomics in a research report on Wednesday, May 1st. They issued a “buy” rating and a $26.00 price target for the company. Benchmark restated a “buy” rating and issued a $18.00 price target on shares of NeoGenomics in a research report on Tuesday. Needham & Company LLC restated a “buy” rating and issued a $19.00 price target on shares of NeoGenomics in a research report on Tuesday. TD Cowen lowered their price target on NeoGenomics from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Finally, BTIG Research reduced their target price on NeoGenomics from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock 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.