NeoGenomics (NASDAQ:NEO) Updates 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

NEO has been the topic of a number of recent research reports. The Goldman Sachs Group raised their price objective on NeoGenomics from $17.00 to $19.00 and gave the company a buy rating in a research report on Thursday, February 22nd. Needham & Company LLC decreased their price objective on shares of NeoGenomics from $24.00 to $19.00 and set a buy rating for the company in a research report on Tuesday. William Blair reissued an outperform rating on shares of NeoGenomics in a research report on Wednesday, February 21st. Finally, Piper Sandler lifted their price objective on shares of NeoGenomics from $18.00 to $20.00 and gave the stock an overweight rating in a research note on Monday, February 26th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $18.88.

NeoGenomics Stock Performance

NASDAQ:NEO traded down $1.30 during mid-day trading on Tuesday, hitting $13.92. The company’s stock had a trading volume of 2,368,116 shares, compared to its average volume of 919,773. The business’s fifty day moving average is $15.05 and its two-hundred day moving average is $15.96. NeoGenomics has a 1 year low of $11.03 and a 1 year high of $21.22. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -19.96 and a beta of 1.10. The company has a debt-to-equity ratio of 0.57, a current ratio of 6.20 and a quick ratio of 5.95.

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 return on equity of 4.13% and a negative net margin of 14.87%. Analysts anticipate that NeoGenomics will post -0.2 EPS for the current fiscal year.

Insider Activity

In related 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 transaction of $38,701.52. Following the completion of the sale, the general counsel now owns 34,866 shares in the company, valued at approximately $521,595.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company’s stock.

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.