NeoGenomics (NASDAQ:NEO) Releases FY 2024 Earnings Guidance

NeoGenomics (NASDAQ:NEO) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 0.080-0.100 for the period, compared to the consensus earnings per share estimate of 0.100. The company issued revenue guidance of $655.0 million-$667.0 million, compared to the consensus revenue estimate of $662.0 million.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NEO. Jefferies Financial Group assumed coverage on shares of NeoGenomics in a research report on Tuesday, December 10th. They set a “buy” rating and a $22.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price objective on shares of NeoGenomics in a report on Wednesday, November 6th. Benchmark restated a “buy” rating and set a $18.00 price target on shares of NeoGenomics in a research report on Tuesday, September 24th. Finally, Bank of America upped their price objective on NeoGenomics from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, NeoGenomics currently has an average rating of “Moderate Buy” and a consensus price target of $20.30.

NeoGenomics Stock Down 16.0 %

Shares of NASDAQ:NEO traded down $2.97 during trading on Friday, reaching $15.64. 235,450 shares of the stock traded hands, compared to its average volume of 530,241. The stock has a market cap of $2.01 billion, a P/E ratio of -25.64 and a beta of 1.24. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.91 and a current ratio of 1.99. The stock has a 50-day moving average of $16.81 and a two-hundred day moving average of $15.63. NeoGenomics has a 52-week low of $12.77 and a 52-week high of $19.11.

NeoGenomics (NASDAQ:NEO) last posted its earnings results on Tuesday, November 5th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. The business had revenue of $167.80 million for the quarter, compared to analysts’ expectations of $167.00 million. During the same quarter in the prior year, the business earned ($0.06) EPS. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, sell-side analysts expect that NeoGenomics will post -0.16 earnings per share for the current fiscal year.

Insider Transactions at NeoGenomics

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 5,175 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $15.36, for a total value of $79,488.00. Following the completion of the sale, the general counsel now owns 37,129 shares in the company, valued at approximately $570,301.44. This represents a 12.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate 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.