NeoGenomics (NASDAQ:NEO) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

NeoGenomics (NASDAQ:NEO) announced its quarterly earnings data on Tuesday. The medical research company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04, Briefing.com reports. The business had revenue of $167.80 million for the quarter, compared to the consensus estimate of $167.00 million. NeoGenomics had a negative net margin of 12.50% and a negative return on equity of 2.72%. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. NeoGenomics updated its FY 2024 guidance to 0.080-0.100 EPS.

NeoGenomics Price Performance

NeoGenomics stock opened at $15.82 on Friday. NeoGenomics has a 52-week low of $12.77 and a 52-week high of $21.22. The firm has a fifty day moving average of $14.69 and a 200-day moving average of $14.73. The firm has a market capitalization of $2.03 billion, a P/E ratio of -25.52 and a beta of 1.19. The company has a quick ratio of 1.93, a current ratio of 2.01 and a debt-to-equity ratio of 0.37.

Analysts Set New Price Targets

NEO has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price target on shares of NeoGenomics in a research note on Wednesday. Stephens reaffirmed an “overweight” rating and set a $19.00 price target on shares of NeoGenomics in a research note on Tuesday, July 30th. Finally, Benchmark reaffirmed a “buy” rating and set a $18.00 price target on shares of NeoGenomics in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.89.

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.