NeoGenomics (NASDAQ:NEO) Posts Quarterly Earnings Results

NeoGenomics (NASDAQ:NEO) posted its earnings results on Tuesday. The medical research company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.04, Briefing.com reports. The business had revenue of $167.80 million during the quarter, compared to the consensus estimate of $167.00 million. NeoGenomics had a negative return on equity of 2.72% and a negative net margin of 12.50%. The business’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.06) EPS. NeoGenomics updated its FY 2024 guidance to 0.080-0.100 EPS.

NeoGenomics Price Performance

Shares of NEO traded up $0.36 during trading hours on Thursday, reaching $15.82. The company had a trading volume of 940,050 shares, compared to its average volume of 820,345. The company has a current ratio of 2.01, a quick ratio of 1.93 and a debt-to-equity ratio of 0.37. NeoGenomics has a 12-month low of $12.77 and a 12-month high of $21.22. The firm has a 50 day simple moving average of $14.69 and a 200-day simple moving average of $14.73. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of -25.52 and a beta of 1.19.

Analyst Upgrades and Downgrades

NEO has been the subject of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 target price on shares of NeoGenomics in a report on Wednesday. Benchmark reaffirmed a “buy” rating and set a $18.00 price objective on shares of NeoGenomics in a research report on Tuesday, September 24th. Finally, Stephens reissued an “overweight” rating and issued a $19.00 target price on shares of NeoGenomics in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently 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.