NeoGenomics (NASDAQ:NEO) Announces Quarterly Earnings Results, Misses Estimates By $0.05 EPS

NeoGenomics (NASDAQ:NEO - Get Free Report) issued its quarterly earnings data on Tuesday. The medical research company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.05), Zacks reports. NeoGenomics had a negative net margin of 11.92% and a negative return on equity of 2.10%. The company had revenue of $172.00 million for the quarter, compared to the consensus estimate of $173.40 million.

NeoGenomics Stock Performance

Shares of NASDAQ:NEO traded down $0.76 during trading on Friday, hitting $11.10. The stock had a trading volume of 1,877,797 shares, compared to its average volume of 1,178,573. NeoGenomics has a 12-month low of $10.69 and a 12-month high of $19.11. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -17.90 and a beta of 1.23. The company has a quick ratio of 1.91, a current ratio of 1.98 and a debt-to-equity ratio of 0.38. The stock has a 50-day simple moving average of $15.28 and a two-hundred day simple moving average of $15.49.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group dropped their price objective on NeoGenomics from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Tuesday, January 28th. Benchmark downgraded NeoGenomics from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Jefferies Financial Group initiated coverage on NeoGenomics in a report on Tuesday, December 10th. They issued a "buy" rating and a $22.00 price target for the company. Bank of America lowered their price target on NeoGenomics from $19.00 to $16.00 and set a "neutral" rating for the company in a report on Wednesday. Finally, Needham & Company LLC lowered their price target on NeoGenomics from $19.00 to $18.00 and set a "buy" rating for the company in a report on Wednesday. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.80.

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.