NeoGenomics (NASDAQ:NEO) Shares Gap Up on Better-Than-Expected Earnings

NeoGenomics, Inc. (NASDAQ:NEO)’s share price gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $10.16, but opened at $10.82. NeoGenomics shares last traded at $10.2170, with a volume of 1,722,567 shares changing hands.

The medical research company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. The business had revenue of $187.80 million during the quarter, compared to analysts’ expectations of $183.85 million. NeoGenomics had a negative net margin of 16.00% and a negative return on equity of 3.36%. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.05 EPS. NeoGenomics has set its FY 2025 guidance at 0.080-0.120 EPS.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NEO shares. Needham & Company LLC increased their price target on shares of NeoGenomics from $8.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, August 29th. Stephens increased their price target on shares of NeoGenomics from $6.50 to $11.00 and gave the company an “overweight” rating in a research report on Tuesday, September 2nd. Morgan Stanley set a $8.00 price target on shares of NeoGenomics and gave the company an “equal weight” rating in a research report on Wednesday, July 30th. William Blair restated a “market perform” rating on shares of NeoGenomics in a report on Tuesday, July 29th. Finally, TD Cowen upped their price objective on shares of NeoGenomics from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Seven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, NeoGenomics currently has an average rating of “Hold” and an average price target of $13.11.

Institutional Trading of NeoGenomics

Institutional investors and hedge funds have recently bought and sold shares of the company. Brooklyn Investment Group bought a new stake in NeoGenomics during the 1st quarter valued at about $35,000. Headlands Technologies LLC purchased a new position in shares of NeoGenomics in the second quarter worth approximately $32,000. CWM LLC boosted its holdings in shares of NeoGenomics by 42.6% in the first quarter. CWM LLC now owns 6,299 shares of the medical research company’s stock worth $60,000 after buying an additional 1,883 shares during the last quarter. AlphaQuest LLC purchased a new position in shares of NeoGenomics in the first quarter worth approximately $60,000. Finally, Moors & Cabot Inc. purchased a new position in shares of NeoGenomics in the first quarter worth approximately $95,000. 98.50% of the stock is currently owned by institutional investors.

NeoGenomics Stock Performance

The company has a quick ratio of 3.58, a current ratio of 3.91 and a debt-to-equity ratio of 0.41. The company has a market cap of $1.33 billion, a PE ratio of -11.68 and a beta of 1.61. The business’s fifty day moving average is $8.63 and its 200-day moving average is $7.78.

NeoGenomics Company Profile

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.