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 0.080-0.100 for the period, compared to the consensus EPS estimate of 0.060. The company issued revenue guidance of $655.0 million-$667.0 million, compared to the consensus revenue estimate of $661.7 million.

NeoGenomics Trading Down 0.5 %

NEO stock traded down $0.08 during trading on Friday, reaching $15.74. 62,458 shares of the stock traded hands, compared to its average volume of 816,852. NeoGenomics has a 52-week low of $12.77 and a 52-week high of $21.22. The business’s 50 day moving average price is $14.69 and its 200-day moving average price is $14.73. The firm has a market capitalization of $2.02 billion, a PE ratio of -25.52 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 1.93.

NeoGenomics (NASDAQ:NEO) last released its earnings results on Tuesday, November 5th. The medical research company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.04. NeoGenomics had a negative net margin of 12.50% and a negative return on equity of 2.72%. The firm had revenue of $167.80 million during the quarter, compared to analyst estimates of $167.00 million. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, sell-side analysts forecast that NeoGenomics will post -0.21 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Needham & Company LLC restated a “buy” rating and issued a $19.00 price target on shares of NeoGenomics in a research note on Wednesday. Stephens reiterated an “overweight” rating and set a $19.00 price target on shares of NeoGenomics in a research report on Tuesday, July 30th. Finally, Benchmark reaffirmed a “buy” rating and issued a $18.00 price objective on shares of NeoGenomics in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, NeoGenomics presently has a consensus rating of “Moderate Buy” and an average target price of $19.89.

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.