NeoGenomics (NASDAQ:NEO) Posts Quarterly Earnings Results, Misses Estimates By $0.09 EPS

Key Points

• NeoGenomics reported a quarterly loss of ($0.06) EPS, falling short of the consensus estimate by ($0.09) EPS.
• Directors and executives have been actively buying shares, with purchases totaling 70,600 shares valued at approximately $550,438 over the last quarter.
• Several analysts have downgraded their price targets for NeoGenomics, with the current average target set at $13.83 and a consensus rating of "Hold."

NeoGenomics (NASDAQ:NEO - Get Free Report) issued its quarterly earnings data on Tuesday. The medical research company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.09), Zacks reports. NeoGenomics had a negative return on equity of 2.72% and a negative net margin of 15.10%. The business had revenue of $181.33 million for the quarter, compared to analysts' expectations of $182.91 million. NeoGenomics updated its FY 2025 guidance to EPS.

NeoGenomics Stock Up 6.6%

NASDAQ:NEO traded up $0.32 on Friday, reaching $5.16. The stock had a trading volume of 4,528,446 shares, compared to its average volume of 1,946,270. The company has a current ratio of 3.92, a quick ratio of 1.95 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average of $7.03 and a 200 day moving average of $9.37. The stock has a market cap of $666.57 million, a P/E ratio of -6.37 and a beta of 1.63. NeoGenomics has a 12-month low of $4.72 and a 12-month high of $19.11.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on NEO shares. The Goldman Sachs Group lowered their price objective on shares of NeoGenomics from $15.00 to $10.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Leerink Partners cut shares of NeoGenomics from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $25.00 to $9.00 in a research note on Wednesday, April 30th. Leerink Partnrs cut shares of NeoGenomics from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Morgan Stanley set a $8.00 price objective on shares of NeoGenomics and gave the company an "equal weight" rating in a research note on Wednesday. Finally, BTIG Research reissued a "neutral" rating on shares of NeoGenomics in a research note on Wednesday. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $12.88.

Insider Buying and Selling

In other news, Director David Brian Perez acquired 10,000 shares of the firm's stock in a transaction on Monday, May 5th. The stock was bought at an average cost of $7.63 per share, with a total value of $76,300.00. Following the transaction, the director directly owned 10,000 shares in the company, valued at approximately $76,300. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael Aaron Kelly acquired 5,000 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was purchased at an average cost of $7.60 per share, with a total value of $38,000.00. Following the completion of the transaction, the director owned 5,000 shares in the company, valued at $38,000. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 50,600 shares of company stock worth $400,238 over the last quarter. Company insiders own 2.40% of the company's stock.

Institutional Investors Weigh In On NeoGenomics

A number of institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC bought a new position in NeoGenomics in the 1st quarter worth about $271,000. Royal Bank of Canada grew its position in NeoGenomics by 51.2% in the 1st quarter. Royal Bank of Canada now owns 56,026 shares of the medical research company's stock worth $532,000 after purchasing an additional 18,966 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in NeoGenomics by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 75,798 shares of the medical research company's stock worth $719,000 after purchasing an additional 3,254 shares during the last quarter. Finally, Intech Investment Management LLC grew its position in NeoGenomics by 19.7% in the 1st quarter. Intech Investment Management LLC now owns 151,806 shares of the medical research company's stock worth $1,441,000 after purchasing an additional 24,965 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company's stock.

NeoGenomics Company Profile

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.