NeoGenomics (NASDAQ:NEO) Issues Earnings Results, Beats Estimates By $0.02 EPS

NeoGenomics (NASDAQ:NEO) released its quarterly earnings results on Tuesday. The medical research company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02, FiscalAI reports. NeoGenomics had a negative return on equity of 3.36% and a negative net margin of 16.00%.The company had revenue of $190.17 million for the quarter, compared to analyst estimates of $188.25 million.

NeoGenomics Stock Up 1.9%

Shares of NeoGenomics stock opened at $11.38 on Tuesday. NeoGenomics has a one year low of $4.72 and a one year high of $14.73. The company has a market cap of $1.47 billion, a P/E ratio of -12.93 and a beta of 1.58. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.62 and a current ratio of 3.91. The firm has a fifty day moving average of $12.18 and a two-hundred day moving average of $10.07.

Insider Activity

In other NeoGenomics news, COO Warren Stone sold 22,128 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $12.50, for a total transaction of $276,600.00. Following the transaction, the chief operating officer owned 121,631 shares in the company, valued at approximately $1,520,387.50. The trade was a 15.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Alicia C. Olivo sold 20,916 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $12.00, for a total value of $250,992.00. Following the transaction, the executive vice president directly owned 31,083 shares of the company’s stock, valued at approximately $372,996. This trade represents a 40.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.40% of the stock is owned by insiders.

Institutional Trading of NeoGenomics

A number of institutional investors have recently modified their holdings of the business. Loomis Sayles & Co. L P acquired a new position in NeoGenomics during the fourth quarter worth $19,182,000. American Capital Management Inc. boosted its position in shares of NeoGenomics by 120.9% during the 3rd quarter. American Capital Management Inc. now owns 2,345,263 shares of the medical research company’s stock worth $18,105,000 after purchasing an additional 1,283,390 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of NeoGenomics during the 2nd quarter worth $6,071,000. First Light Asset Management LLC grew its stake in shares of NeoGenomics by 13.3% during the 2nd quarter. First Light Asset Management LLC now owns 6,846,432 shares of the medical research company’s stock worth $50,047,000 after purchasing an additional 803,610 shares during the period. Finally, Squarepoint Ops LLC increased its holdings in shares of NeoGenomics by 246.8% in the 2nd quarter. Squarepoint Ops LLC now owns 735,473 shares of the medical research company’s stock valued at $5,376,000 after purchasing an additional 523,407 shares in the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NEO shares. Weiss Ratings restated a “sell (d-)” rating on shares of NeoGenomics in a research report on Monday, December 29th. Zacks Research upgraded shares of NeoGenomics from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. Leerink Partners set a $14.00 price objective on shares of NeoGenomics in a research note on Tuesday, October 28th. TD Cowen reaffirmed a “buy” rating on shares of NeoGenomics in a report on Wednesday, January 7th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $14.00 target price on shares of NeoGenomics in a research note on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $12.00.

About NeoGenomics

NeoGenomics, traded on the Nasdaq under the symbol NEO, is a leading provider of cancer-focused genetic and molecular testing services. Headquartered in Fort Myers, Florida, the company operates an integrated network of CAP-accredited and CLIA-certified laboratories across the United States, Europe and Asia. NeoGenomics delivers diagnostic insights that support oncologists, pathologists and healthcare institutions in the detection, prognosis and treatment of hematologic and solid tumor cancers.

The company’s core service offerings include flow cytometry, immunohistochemistry, fluorescence in situ hybridization (FISH), karyotyping and advanced molecular assays such as next-generation sequencing (NGS) panels and polymerase chain reaction (PCR) tests.