NeoGenomics (NASDAQ:NEO) Announces Quarterly Earnings Results, Beats Expectations By $0.04 EPS

NeoGenomics (NASDAQ:NEOGet Rating) announced its quarterly earnings results on Wednesday. The medical research company reported ($0.20) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.04, Briefing.com reports. NeoGenomics had a negative return on equity of 6.62% and a negative net margin of 7.33%. The business had revenue of $117.17 million during the quarter, compared to the consensus estimate of $116.44 million. During the same quarter in the prior year, the company posted ($0.06) earnings per share. NeoGenomics’s revenue was up 1.4% compared to the same quarter last year.

Shares of NeoGenomics stock traded down $0.30 during trading on Friday, hitting $9.45. 1,899,402 shares of the stock traded hands, compared to its average volume of 2,792,221. The company has a quick ratio of 7.54, a current ratio of 7.93 and a debt-to-equity ratio of 0.50. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of -29.53 and a beta of 0.74. The firm’s fifty day moving average is $15.22 and its 200-day moving average is $26.73. NeoGenomics has a 52 week low of $9.34 and a 52 week high of $54.74.

Several equities research analysts recently issued reports on the company. SVB Leerink decreased their price target on NeoGenomics from $45.00 to $20.00 and set an “outperform” rating for the company in a report on Tuesday, March 29th. Raymond James cut their price objective on NeoGenomics from $24.00 to $18.00 and set an “outperform” rating on the stock in a research report on Monday, April 18th. Bank of America cut NeoGenomics from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $25.00 to $18.00 in a research report on Tuesday, March 29th. Morgan Stanley dropped their price target on NeoGenomics from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 12th. Finally, Needham & Company LLC dropped their price target on NeoGenomics from $29.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, March 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, NeoGenomics has a consensus rating of “Buy” and a consensus price target of $24.64.

In related news, CFO William Bonello sold 3,209 shares of the stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $18.29, for a total transaction of $58,692.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.70% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Virtu Financial LLC purchased a new stake in NeoGenomics during the 4th quarter valued at about $281,000. Cubist Systematic Strategies LLC purchased a new stake in NeoGenomics in the 4th quarter worth approximately $949,000. Marshall Wace LLP purchased a new stake in NeoGenomics in the 4th quarter worth approximately $1,502,000. State of Tennessee Treasury Department lifted its holdings in NeoGenomics by 2.7% in the 4th quarter. State of Tennessee Treasury Department now owns 52,625 shares of the medical research company’s stock worth $1,796,000 after buying an additional 1,390 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in NeoGenomics by 0.9% in the 4th quarter. Thrivent Financial for Lutherans now owns 100,198 shares of the medical research company’s stock worth $3,419,000 after buying an additional 925 shares during the period. Institutional investors own 97.04% of the company’s stock.

NeoGenomics Company Profile (Get Rating)

NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States, Europe, and Asia. It operates through, Clinical Services and Pharma Services segments. The company offers testing services to hospitals, reference labs, pathologists, oncologists, clinicians, pharmaceutical firms, and researchers.

See Also

Earnings History for NeoGenomics (NASDAQ:NEO)

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