William Blair Equities Analysts Lift Earnings Estimates for NeoGenomics, Inc. (NASDAQ:NEO)

NeoGenomics, Inc. (NASDAQ:NEO) – William Blair lifted their FY2024 earnings per share estimates for shares of NeoGenomics in a report issued on Tuesday, September 24th. William Blair analyst A. Brackmann now anticipates that the medical research company will post earnings per share of ($0.21) for the year, up from their previous forecast of ($0.24). The consensus estimate for NeoGenomics’ current full-year earnings is ($0.22) per share. William Blair also issued estimates for NeoGenomics’ Q4 2024 earnings at ($0.05) EPS, Q1 2025 earnings at ($0.03) EPS, Q2 2025 earnings at ($0.02) EPS and FY2025 earnings at ($0.08) EPS.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings data on Monday, July 29th. The medical research company reported $0.03 EPS for the quarter. The company had revenue of $164.50 million for the quarter, compared to the consensus estimate of $161.82 million. NeoGenomics had a negative return on equity of 2.72% and a negative net margin of 12.50%. NeoGenomics’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the business posted ($0.09) EPS.

NEO has been the topic of a number of other reports. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price target on shares of NeoGenomics in a report on Wednesday. Benchmark reiterated a “buy” rating and issued a $18.00 price target on shares of NeoGenomics in a report on Tuesday, September 24th. Finally, Stephens reiterated an “overweight” rating and issued a $19.00 price target on shares of NeoGenomics in a report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.89.

NeoGenomics Trading Down 1.0 %

NEO opened at $14.50 on Friday. NeoGenomics has a 52 week low of $11.03 and a 52 week high of $21.22. The stock’s fifty day moving average is $16.06 and its two-hundred day moving average is $14.93. The company has a market capitalization of $1.85 billion, a P/E ratio of -21.97 and a beta of 1.19. The company has a quick ratio of 1.93, a current ratio of 2.01 and a debt-to-equity ratio of 0.37.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NEO. Dimensional Fund Advisors LP grew its stake in NeoGenomics by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,006,523 shares of the medical research company’s stock worth $48,650,000 after buying an additional 18,603 shares during the last quarter. Norges Bank acquired a new stake in NeoGenomics during the 4th quarter worth about $14,512,000. TD Asset Management Inc lifted its position in NeoGenomics by 14.3% during the 4th quarter. TD Asset Management Inc now owns 184,000 shares of the medical research company’s stock worth $2,977,000 after acquiring an additional 23,000 shares during the period. Allianz Asset Management GmbH lifted its position in NeoGenomics by 23.8% during the 4th quarter. Allianz Asset Management GmbH now owns 284,394 shares of the medical research company’s stock worth $4,601,000 after acquiring an additional 54,669 shares during the period. Finally, Burkett Financial Services LLC acquired a new stake in NeoGenomics during the 4th quarter worth about $46,000. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

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.