NeoGenomics (NASDAQ:NEO) Posts Earnings Results, Beats Expectations By $0.02 EPS

Key Points

• NeoGenomics beat quarterly expectations: The company reported EPS of $0.05, $0.02 above consensus, while revenue reached $201.66 million versus estimates of $196.93 million. Despite the beat, it posted a negative net margin of 13.30% and negative return on equity of 2.80%.
• Shares rose to $13.40 during Tuesday trading, near the company’s $15.57 12-month high. Analysts remain cautiously positive, with a consensus “Hold” rating and an average price target of $14.57, although Benchmark raised its target to $16 and Leerink Partners to $25.
• Institutional investors hold 98.50% of the stock, with several firms increasing their positions. A director sold 5,307 shares under a pre-arranged Rule 10b5-1 plan, reducing their holdings by 5.49%.

NeoGenomics (NASDAQ:NEO - Get Free Report) issued its quarterly earnings results on Tuesday. The medical research company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.02, FiscalAI reports. The business had revenue of $201.66 million during the quarter, compared to analyst estimates of $196.93 million. NeoGenomics had a negative net margin of 13.30% and a negative return on equity of 2.80%.

NeoGenomics Stock Performance

Shares of NASDAQ NEO traded up $0.26 during midday trading on Tuesday, hitting $13.40. 2,400,488 shares of the company's stock were exchanged, compared to its average volume of 2,281,759. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.42 and a quick ratio of 4.06. The stock's 50 day moving average price is $12.29 and its 200-day moving average price is $10.65. The firm has a market cap of $1.74 billion, a P/E ratio of -17.40 and a beta of 1.74. NeoGenomics has a twelve month low of $4.72 and a twelve month high of $15.57.

Insider Buying and Selling

In related news, Director Lynn A. Tetrault sold 5,307 shares of the firm's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $11.29, for a total value of $59,916.03. Following the sale, the director directly owned 91,422 shares in the company, valued at $1,032,154.38. This trade represents a 5.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Entropy Technologies LP raised its stake in shares of NeoGenomics by 6.9% during the fourth quarter. Entropy Technologies LP now owns 23,037 shares of the medical research company's stock valued at $271,000 after purchasing an additional 1,480 shares in the last quarter. Smartleaf Asset Management LLC grew its position in NeoGenomics by 77.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,466 shares of the medical research company's stock valued at $42,000 after buying an additional 1,515 shares in the last quarter. MetLife Investment Management LLC increased its stake in NeoGenomics by 2.2% during the 4th quarter. MetLife Investment Management LLC now owns 71,734 shares of the medical research company's stock valued at $844,000 after buying an additional 1,524 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in NeoGenomics by 110.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,968 shares of the medical research company's stock valued at $35,000 after buying an additional 1,556 shares during the period. Finally, Moors & Cabot Inc. raised its position in shares of NeoGenomics by 14.6% during the 3rd quarter. Moors & Cabot Inc. now owns 13,750 shares of the medical research company's stock worth $106,000 after buying an additional 1,750 shares in the last quarter. Institutional investors own 98.50% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Benchmark raised their price objective on NeoGenomics from $11.00 to $16.00 and gave the stock a "buy" rating in a research note on Friday. Leerink Partners upgraded shares of NeoGenomics from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $12.00 to $25.00 in a research note on Wednesday, April 29th. TD Cowen restated a "buy" rating on shares of NeoGenomics in a research report on Wednesday, July 15th. Wall Street Zen raised shares of NeoGenomics from a "hold" rating to a "buy" rating in a report on Saturday, June 27th. Finally, Weiss Ratings raised shares of NeoGenomics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, July 14th. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $14.57.

About NeoGenomics

NeoGenomics, traded on the Nasdaq under the symbol NEO, is a leading provider of cancer-focused genetic and molecular testing services. Headquartered in Fort Myers, Florida, the company operates an integrated network of CAP-accredited and CLIA-certified laboratories across the United States, Europe and Asia. NeoGenomics delivers diagnostic insights that support oncologists, pathologists and healthcare institutions in the detection, prognosis and treatment of hematologic and solid tumor cancers.

The company's core service offerings include flow cytometry, immunohistochemistry, fluorescence in situ hybridization (FISH), karyotyping and advanced molecular assays such as next-generation sequencing (NGS) panels and polymerase chain reaction (PCR) tests.

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.