NeoGenomics (NASDAQ:NEO) Releases FY 2024 Earnings Guidance

NeoGenomics (NASDAQ:NEO - Get Free Report) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 0.080-0.100 for the period, compared to the consensus 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.

NeoGenomics Trading Down 20.6 %

NEO traded down $3.84 during midday trading on Friday, hitting $14.77. 2,547,607 shares of the company were exchanged, compared to its average volume of 950,200. The firm has a market capitalization of $1.90 billion, a P/E ratio of -24.21 and a beta of 1.24. NeoGenomics has a 1-year low of $12.77 and a 1-year high of $19.11. The firm's 50 day moving average price is $16.82 and its 200-day moving average price is $15.64. The company has a quick ratio of 1.91, a current ratio of 1.99 and a debt-to-equity ratio of 0.37.

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. NeoGenomics had a negative return on equity of 2.11% and a negative net margin of 12.07%. The firm had revenue of $167.80 million during the quarter, compared to analyst estimates of $167.00 million. During the same period last year, the company posted ($0.06) EPS. The business's quarterly revenue was up 10.5% on a year-over-year basis. As a group, equities analysts forecast that NeoGenomics will post -0.16 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NEO. Needham & Company LLC restated a "buy" rating and issued a $19.00 target price on shares of NeoGenomics in a research note on Friday. Bank of America upped their price objective on NeoGenomics from $18.00 to $19.00 and gave the company a "neutral" rating in a research note on Friday, December 13th. Benchmark reiterated a "buy" rating and issued a $18.00 price objective on shares of NeoGenomics in a research note on Tuesday, September 24th. Finally, Jefferies Financial Group assumed coverage on shares of NeoGenomics in a report on Tuesday, December 10th. They set a "buy" rating and a $22.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, NeoGenomics has a consensus rating of "Moderate Buy" and an average price target of $20.30.

Insider Transactions at NeoGenomics

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 5,175 shares of the company's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $15.36, for a total transaction of $79,488.00. Following the completion of the sale, the general counsel now directly owns 37,129 shares in the company, valued at $570,301.44. This represents a 12.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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.