NeoGenomics (NASDAQ:NEO) Issues FY 2024 Earnings Guidance

NeoGenomics (NASDAQ:NEO) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 0.000-0.040 for the period, compared to the consensus EPS 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.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NEO. The Goldman Sachs Group lifted their target price on NeoGenomics from $17.00 to $19.00 and gave the stock a buy rating in a report on Thursday, February 22nd. Piper Sandler upped their price objective on shares of NeoGenomics from $18.00 to $20.00 and gave the stock an overweight rating in a research report on Monday, February 26th. William Blair restated an outperform rating on shares of NeoGenomics in a research note on Wednesday, February 21st. Finally, Needham & Company LLC dropped their price target on NeoGenomics from $24.00 to $19.00 and set a buy rating on the stock in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, NeoGenomics has an average rating of Moderate Buy and a consensus target price of $18.88.

NeoGenomics Price Performance

NEO traded down $1.30 on Tuesday, reaching $13.92. The company had a trading volume of 2,368,116 shares, compared to its average volume of 919,773. The business has a 50 day simple moving average of $15.05 and a 200 day simple moving average of $15.96. The company has a market cap of $1.78 billion, a price-to-earnings ratio of -19.96 and a beta of 1.10. NeoGenomics has a 52-week low of $11.03 and a 52-week high of $21.22. The company has a debt-to-equity ratio of 0.57, a quick ratio of 5.95 and a current ratio of 6.20.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings results on Tuesday, February 20th. The medical research company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. NeoGenomics had a negative net margin of 14.87% and a negative return on equity of 4.13%. The business had revenue of $155.55 million for the quarter, compared to analysts’ expectations of $152.90 million. As a group, sell-side analysts anticipate that NeoGenomics will post -0.2 EPS for the current year.

Insider Activity

In related news, General Counsel Alicia C. Olivo sold 2,587 shares of NeoGenomics stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $14.96, for a total transaction of $38,701.52. Following the completion of the transaction, the general counsel now directly owns 34,866 shares of the company’s stock, valued at approximately $521,595.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.30% 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.