NeoGenomics (NASDAQ:NEO) Announces Quarterly Earnings Results

Key Points

• NeoGenomics beat quarterly expectations: The company reported adjusted EPS of $0.07 versus the $0.06 consensus estimate, while revenue reached $209.25 million compared with expectations of $206.70 million.
• Shares rose 4.2% to $17.99 following the results, though the company reported a negative net margin of 6.77% and negative return on equity of 1.99%.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $18.17; six analysts rate the stock Buy, three Hold, and one Sell.

NeoGenomics (NASDAQ:NEO - Get Free Report) announced its quarterly earnings results on Wednesday. The medical research company reported $0.07 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.01, FiscalAI reports. The firm had revenue of $209.25 million for the quarter, compared to analyst estimates of $206.70 million. NeoGenomics had a negative return on equity of 1.99% and a negative net margin of 6.77%.

NeoGenomics Trading Up 4.2%

Shares of NeoGenomics stock traded up $0.72 during midday trading on Wednesday, reaching $17.99. The company had a trading volume of 2,577,279 shares, compared to its average volume of 2,249,442. The stock has a fifty day moving average price of $17.60 and a 200 day moving average price of $12.75. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.60 and a quick ratio of 3.35. The firm has a market cap of $2.31 billion, a PE ratio of -44.97 and a beta of 1.79. NeoGenomics has a fifty-two week low of $7.07 and a fifty-two week high of $20.15.

Analyst Ratings Changes

A number of brokerages recently issued reports on NEO. TD Cowen reiterated a "buy" rating on shares of NeoGenomics in a report on Wednesday, July 15th. Needham & Company LLC upped their price target on shares of NeoGenomics from $19.00 to $22.00 and gave the company a "buy" rating in a research report on Tuesday, October 6th. Benchmark raised their price target on shares of NeoGenomics from $11.00 to $16.00 and gave the company a "buy" rating in a research note on Friday, July 24th. Craig Hallum reiterated a "buy" rating and set a $19.00 price target on shares of NeoGenomics in a report on Wednesday, July 29th. Finally, Zacks Research cut shares of NeoGenomics from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 28th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $18.17.

NeoGenomics Company Profile

NeoGenomics, Inc NASDAQ: NEO is a cancer-focused diagnostics company that provides laboratory testing and related services to oncologists, hospitals, academic institutions, and biopharmaceutical companies. Its diagnostic offerings support the detection, classification, and monitoring of cancer and help inform treatment decisions.

The company's services include pathology, immunohistochemistry, flow cytometry, cytogenetics, molecular testing, and other specialized oncology assays. NeoGenomics also provides clinical trial and pharmaceutical services, including biomarker testing, central laboratory support, and companion diagnostic development for drug developers.

Founded in 1999, NeoGenomics has expanded through internal growth and acquisitions and operates a network of clinical laboratories serving customers primarily in the United States, with additional international capabilities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.