$124.49 Million in Sales Expected for NeoGenomics, Inc. (NASDAQ:NEO) This Quarter

Brokerages expect NeoGenomics, Inc. (NASDAQ:NEOGet Rating) to post $124.49 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for NeoGenomics’ earnings, with the lowest sales estimate coming in at $122.40 million and the highest estimate coming in at $127.35 million. NeoGenomics reported sales of $121.72 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.3%. The business is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that NeoGenomics will report full year sales of $507.25 million for the current year, with estimates ranging from $496.00 million to $520.69 million. For the next year, analysts anticipate that the business will post sales of $569.39 million, with estimates ranging from $536.60 million to $608.22 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for NeoGenomics.

NeoGenomics (NASDAQ:NEOGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The medical research company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.04. NeoGenomics had a negative net margin of 7.33% and a negative return on equity of 6.62%. The company had revenue of $117.17 million for the quarter, compared to the consensus estimate of $116.44 million. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year.

Several analysts have issued reports on NEO shares. StockNews.com raised shares of NeoGenomics to a “sell” rating in a report on Thursday, May 12th. SVB Leerink reduced their price target on shares of NeoGenomics from $45.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, March 29th. Cowen reduced their price target on shares of NeoGenomics from $42.00 to $24.00 and set an “outperform” rating on the stock in a report on Tuesday, March 29th. Bank of America downgraded shares of NeoGenomics from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $25.00 to $18.00 in a research note on Tuesday, March 29th. Finally, Craig Hallum reduced their price objective on shares of NeoGenomics from $46.00 to $30.00 in a research note on Thursday, February 24th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $24.64.

In other NeoGenomics news, CFO William Bonello sold 3,209 shares of the stock in a transaction that occurred on Monday, March 7th. The shares were sold at an average price of $18.29, for a total transaction of $58,692.61. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.00% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Arizona State Retirement System increased its position in shares of NeoGenomics by 1.1% in the third quarter. Arizona State Retirement System now owns 30,516 shares of the medical research company’s stock worth $1,471,000 after acquiring an additional 318 shares in the last quarter. Mariner LLC increased its position in shares of NeoGenomics by 0.7% in the third quarter. Mariner LLC now owns 52,165 shares of the medical research company’s stock worth $2,516,000 after acquiring an additional 351 shares in the last quarter. Profund Advisors LLC increased its position in shares of NeoGenomics by 3.8% in the third quarter. Profund Advisors LLC now owns 13,205 shares of the medical research company’s stock worth $637,000 after acquiring an additional 485 shares in the last quarter. Oak Family Advisors LLC increased its position in shares of NeoGenomics by 1.0% in the fourth quarter. Oak Family Advisors LLC now owns 58,120 shares of the medical research company’s stock worth $1,983,000 after acquiring an additional 555 shares in the last quarter. Finally, Valmark Advisers Inc. increased its position in shares of NeoGenomics by 6.6% in the fourth quarter. Valmark Advisers Inc. now owns 9,202 shares of the medical research company’s stock worth $314,000 after acquiring an additional 570 shares in the last quarter. 95.03% of the stock is owned by institutional investors.

Shares of NASDAQ NEO opened at $8.79 on Monday. NeoGenomics has a 12-month low of $7.26 and a 12-month high of $54.74. The company has a market capitalization of $1.10 billion, a PE ratio of -27.47 and a beta of 0.86. The company has a debt-to-equity ratio of 0.50, a current ratio of 7.93 and a quick ratio of 7.64. The firm’s 50-day moving average is $12.20 and its two-hundred day moving average is $22.71.

About NeoGenomics (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.

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