NeoGenomics (NASDAQ:NEO) Releases Earnings Results, Beats Estimates By $0.04 EPS

NeoGenomics (NASDAQ:NEO) issued its earnings results on Tuesday. The medical research company reported $0.05 earnings per share (EPS) 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 business had revenue of $167.80 million during the quarter, compared to analysts’ expectations of $167.00 million. During the same period in the prior year, the firm posted ($0.06) EPS. NeoGenomics’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 Trading Up 2.3 %

Shares of NASDAQ:NEO traded up $0.36 during trading on Thursday, hitting $15.82. 940,050 shares of the company’s stock were exchanged, compared to its average volume of 820,345. The firm has a 50-day moving average price of $14.71 and a two-hundred day moving average price of $14.73. NeoGenomics has a 1-year low of $12.77 and a 1-year high of $21.22. The firm has a market cap of $2.03 billion, a P/E ratio of -24.94 and a beta of 1.19. The company has a current ratio of 2.01, a quick ratio of 1.93 and a debt-to-equity ratio of 0.37.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $19.00 target price on shares of NeoGenomics in a report on Wednesday. Stephens restated an “overweight” rating and set a $19.00 price target on shares of NeoGenomics in a research report on Tuesday, July 30th. Finally, Benchmark restated a “buy” rating and set a $18.00 price target on shares of NeoGenomics in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.