NeoGenomics (NASDAQ:NEO) Releases FY 2024 Earnings Guidance

NeoGenomics (NASDAQ:NEO - Get Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 0.000-0.040 for the period, compared to the consensus earnings per share estimate of -0.010. The company issued revenue guidance of $650.0 million-$660.0 million, compared to the consensus revenue estimate of $654.6 million.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Piper Sandler boosted their target price on shares of NeoGenomics from $18.00 to $20.00 and gave the company an overweight rating in a report on Monday, February 26th. William Blair reissued an outperform rating on shares of NeoGenomics in a research report on Wednesday, February 21st. The Goldman Sachs Group raised their price objective on NeoGenomics from $17.00 to $19.00 and gave the stock a buy rating in a report on Thursday, February 22nd. Finally, Needham & Company LLC decreased their target price on NeoGenomics from $24.00 to $19.00 and set a buy rating for the company in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $18.88.

NeoGenomics Stock Down 8.5 %

NASDAQ:NEO traded down $1.30 during trading hours on Tuesday, hitting $13.92. The stock had a trading volume of 2,369,456 shares, compared to its average volume of 929,597. The company has a market cap of $1.78 billion, a PE ratio of -19.89 and a beta of 1.10. The business has a 50 day simple moving average of $15.04 and a two-hundred day simple moving average of $15.97. NeoGenomics has a 1-year low of $11.03 and a 1-year high of $21.22. The company has a current ratio of 6.20, a quick ratio of 5.95 and a debt-to-equity ratio of 0.57.

NeoGenomics (NASDAQ:NEO - Get Free Report) last released its quarterly earnings results on Tuesday, February 20th. The medical research company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.05. The firm had revenue of $155.55 million for the quarter, compared to the consensus estimate of $152.90 million. NeoGenomics had a negative net margin of 14.87% and a negative return on equity of 4.13%. Analysts predict that NeoGenomics will post -0.2 EPS for the current year.

Insider Buying and Selling

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 2,587 shares of NeoGenomics stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $14.96, for a total transaction of $38,701.52. Following the sale, the general counsel now directly owns 34,866 shares in the company, valued at approximately $521,595.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.30% of the company's stock.

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.