NeoGenomics (NASDAQ:NEO) Issues FY 2024 Earnings Guidance

NeoGenomics (NASDAQ:NEO) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 0.000-0.040 for the period, compared to the consensus EPS estimate of -0.010. The company issued revenue guidance of $650.0 million-$660.0 million, compared to the consensus revenue estimate of $654.6 million.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Benchmark restated a buy rating and set a $18.00 price target on shares of NeoGenomics in a research note on Wednesday. The Goldman Sachs Group raised their price target on shares of NeoGenomics from $17.00 to $19.00 and gave the company a buy rating in a report on Thursday, February 22nd. BTIG Research cut their price target on shares of NeoGenomics from $23.00 to $21.00 and set a buy rating for the company in a report on Thursday. Needham & Company LLC dropped their price objective on shares of NeoGenomics from $24.00 to $19.00 and set a buy rating for the company in a report on Tuesday. Finally, TD Cowen decreased their price objective on shares of NeoGenomics from $21.00 to $20.00 and set a buy rating on the stock in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $19.78.

NeoGenomics Stock Performance

NEO stock traded up $0.56 during midday trading on Thursday, reaching $14.52. 556,991 shares of the company’s stock traded hands, compared to its average volume of 927,416. NeoGenomics has a 52-week low of $11.03 and a 52-week high of $21.22. The stock has a market cap of $1.85 billion, a P/E ratio of -21.61 and a beta of 1.12. The company has a current ratio of 7.48, a quick ratio of 5.95 and a debt-to-equity ratio of 0.58. The stock’s 50-day moving average is $14.99 and its 200 day moving average is $15.96.

NeoGenomics (NASDAQ:NEO) last announced its earnings results on Tuesday, February 20th. The medical research company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. The business had revenue of $155.55 million during the quarter, compared to analysts’ expectations of $152.90 million. NeoGenomics had a negative net margin of 13.79% and a negative return on equity of 3.54%. As a group, analysts anticipate that NeoGenomics will post -0.2 EPS for the current year.

Insider Transactions at NeoGenomics

In other news, General Counsel Alicia C. Olivo sold 2,587 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $14.96, for a total value of $38,701.52. Following the completion of the sale, the general counsel now directly owns 34,866 shares of the company’s stock, valued at $521,595.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

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.