NeoGenomics, Inc. (NASDAQ:NEO) Expected to Announce Quarterly Sales of $96.84 Million
Wall Street brokerages forecast that NeoGenomics, Inc. (NASDAQ:NEO) will report sales of $96.84 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for NeoGenomics’ earnings, with the lowest sales estimate coming in at $96.67 million and the highest estimate coming in at $97.05 million. NeoGenomics reported sales of $67.75 million in the same quarter last year, which would suggest a positive year over year growth rate of 42.9%. The company is expected to announce its next quarterly earnings results before the market opens on Tuesday, July 30th.
According to Zacks, analysts expect that NeoGenomics will report full-year sales of $393.14 million for the current fiscal year, with estimates ranging from $389.15 million to $396.61 million. For the next fiscal year, analysts expect that the firm will report sales of $436.16 million, with estimates ranging from $424.16 million to $447.99 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for NeoGenomics.
NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings results on Tuesday, April 30th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. NeoGenomics had a positive return on equity of 3.07% and a negative net margin of 0.14%. The firm had revenue of $95.60 million for the quarter, compared to analyst estimates of $89.71 million. During the same period last year, the company earned $0.04 EPS. The firm’s quarterly revenue was up 50.8% on a year-over-year basis.
A number of equities analysts have recently commented on NEO shares. BidaskClub downgraded NeoGenomics from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 18th. Zacks Investment Research upgraded NeoGenomics from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Saturday, May 4th. CIBC upgraded NeoGenomics from a “neutral” rating to an “outperform” rating and dropped their target price for the company from $18.00 to $15.00 in a report on Tuesday, March 12th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $24.00 target price (up from $22.00) on shares of NeoGenomics in a report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $21.11.
NASDAQ:NEO traded up $0.46 during mid-day trading on Friday, reaching $23.05. The company’s stock had a trading volume of 404,400 shares, compared to its average volume of 1,135,525. The stock’s fifty day moving average price is $22.53. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.46 and a current ratio of 1.59. NeoGenomics has a twelve month low of $11.05 and a twelve month high of $24.84. The company has a market cap of $2.15 billion, a PE ratio of 177.31 and a beta of 0.78.
In other NeoGenomics news, insider George Cardoza sold 151,676 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $22.82, for a total transaction of $3,461,246.32. Following the completion of the sale, the insider now owns 452,507 shares in the company, valued at approximately $10,326,209.74. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Jennifer Balliet sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $22.74, for a total value of $682,200.00. Following the sale, the vice president now owns 39,529 shares of the company’s stock, valued at approximately $898,889.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 338,876 shares of company stock worth $7,674,362. Company insiders own 8.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bessemer Group Inc. acquired a new position in shares of NeoGenomics in the 4th quarter worth approximately $78,000. Bank of Montreal Can grew its position in shares of NeoGenomics by 1,355.9% in the 4th quarter. Bank of Montreal Can now owns 6,377 shares of the medical research company’s stock worth $80,000 after acquiring an additional 5,939 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new position in shares of NeoGenomics in the 4th quarter worth approximately $103,000. Great West Life Assurance Co. Can grew its position in shares of NeoGenomics by 53.9% in the 4th quarter. Great West Life Assurance Co. Can now owns 9,851 shares of the medical research company’s stock worth $120,000 after acquiring an additional 3,451 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund acquired a new position in shares of NeoGenomics in the 1st quarter worth approximately $132,000. Hedge funds and other institutional investors own 84.23% of the company’s stock.
About NeoGenomics
NeoGenomics, Inc, together with its subsidiaries, operates a network of cancer-focused genetic testing laboratories in the United States; and laboratories in Switzerland and Singapore. It operates in two segments, Clinical Services and Pharma Services. The company’s laboratories provide genetic and molecular testing services to hospitals, pathologists, oncologists, urologists, other clinicians and researchers, pharmaceutical firms, academic centers, and other clinical laboratories.
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