FY2024 EPS Estimates for NeoGenomics Increased by Analyst

NeoGenomics, Inc. (NASDAQ:NEO - Free Report) - Research analysts at Leerink Partnrs lifted their FY2024 earnings per share (EPS) estimates for NeoGenomics in a report released on Tuesday, January 7th. Leerink Partnrs analyst P. Souda now forecasts that the medical research company will earn ($0.15) per share for the year, up from their previous estimate of ($0.16). The consensus estimate for NeoGenomics' current full-year earnings is ($0.16) per share. Leerink Partnrs also issued estimates for NeoGenomics' Q4 2024 earnings at ($0.03) EPS, Q1 2025 earnings at ($0.02) EPS, Q2 2025 earnings at ($0.01) EPS, Q3 2025 earnings at ($0.01) EPS, Q4 2025 earnings at $0.00 EPS and FY2025 earnings at ($0.04) EPS.

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

NeoGenomics Price Performance

Shares of NEO stock traded up $0.25 on Thursday, hitting $18.61. 711,302 shares of the company's stock were exchanged, compared to its average volume of 630,660. The company has a 50 day moving average of $16.81 and a 200 day moving average of $15.63. The stock has a market cap of $2.39 billion, a P/E ratio of -30.51 and a beta of 1.24. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.99 and a quick ratio of 1.91. NeoGenomics has a 12 month low of $12.77 and a 12 month high of $19.12.

NeoGenomics (NASDAQ:NEO - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The medical research company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. The firm had revenue of $167.80 million for the quarter, compared to analysts' expectations of $167.00 million. NeoGenomics had a negative return on equity of 2.11% and a negative net margin of 12.07%. The company's quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.06) EPS.

Insider Buying and Selling at NeoGenomics

In other 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 transaction of $79,488.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company's stock.

Institutional Trading of NeoGenomics

Institutional investors and hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc increased its stake in NeoGenomics by 174.9% in the fourth quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company's stock valued at $30,000 after acquiring an additional 1,142 shares during the last quarter. Quarry LP purchased a new position in shares of NeoGenomics in the 3rd quarter worth about $40,000. Blue Trust Inc. increased its position in shares of NeoGenomics by 42.3% during the 3rd quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company's stock valued at $46,000 after purchasing an additional 987 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of NeoGenomics during the 2nd quarter valued at about $57,000. Finally, KBC Group NV lifted its position in NeoGenomics by 33.1% in the 3rd quarter. KBC Group NV now owns 4,530 shares of the medical research company's stock worth $67,000 after buying an additional 1,127 shares during the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

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.