NeoGenomics (NASDAQ:NEO) Issues FY 2024 Earnings Guidance

NeoGenomics (NASDAQ:NEO) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 0.080-0.100 for the period, compared to the consensus EPS 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 Stock Down 20.6 %

NeoGenomics stock opened at $14.77 on Friday. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -24.21 and a beta of 1.24. The company has a current ratio of 1.99, a quick ratio of 1.91 and a debt-to-equity ratio of 0.37. NeoGenomics has a 12 month low of $12.77 and a 12 month high of $19.11. The stock has a fifty day simple moving average of $16.82 and a two-hundred day simple moving average of $15.64.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Tuesday, November 5th. The medical research company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $167.00 million. During the same quarter in the prior year, the business earned ($0.06) earnings per share. NeoGenomics’s revenue for the quarter was up 10.5% compared to the same quarter last year. Equities analysts predict that NeoGenomics will post -0.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Jefferies Financial Group initiated coverage on shares of NeoGenomics in a research report on Tuesday, December 10th. They set a “buy” rating and a $22.00 price objective on the stock. Bank of America lifted their target price on NeoGenomics from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Needham & Company LLC restated a “buy” rating and issued a $19.00 price target on shares of NeoGenomics in a research note on Friday. 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 research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, NeoGenomics currently has an average rating of “Moderate Buy” and a consensus price target of $20.30.

Insider Activity

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 5,175 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $15.36, for a total transaction of $79,488.00. Following the transaction, the general counsel now owns 37,129 shares of the company’s stock, valued at approximately $570,301.44. This trade represents a 12.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.