NeoGenomics (NASDAQ:NEO) Announces Quarterly Earnings Results, Beats Expectations 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. The firm had revenue of $167.80 million for the quarter, compared to analysts’ expectations of $167.00 million. NeoGenomics had a negative net margin of 12.50% and a negative return on equity of 2.72%. NeoGenomics’s revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.06) earnings per share. NeoGenomics updated its FY 2024 guidance to 0.080-0.100 EPS.

NeoGenomics Price Performance

Shares of NASDAQ:NEO traded up $0.36 during trading on Thursday, reaching $15.82. The company had a trading volume of 940,050 shares, compared to its average volume of 820,345. The firm’s fifty day moving average is $14.71 and its 200 day moving average is $14.73. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.93 and a current ratio of 2.01. The firm has a market capitalization of $2.03 billion, a PE ratio of -24.94 and a beta of 1.19. NeoGenomics has a twelve month low of $12.77 and a twelve month high of $21.22.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on NEO shares. Stephens restated an “overweight” rating and set a $19.00 price objective on shares of NeoGenomics in a research note on Tuesday, July 30th. Benchmark reiterated a “buy” rating and issued a $18.00 price objective on shares of NeoGenomics in a research report on Tuesday, September 24th. Finally, Needham & Company LLC restated a “buy” rating and issued a $19.00 target price on shares of NeoGenomics in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average 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.