NeoGenomics (NASDAQ:NEO) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS
NeoGenomics (NASDAQ:NEO) posted its earnings results on Tuesday. The medical research company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02, Briefing.com reports. The firm had revenue of $101.71 million for the quarter, compared to analyst estimates of $97.32 million. NeoGenomics had a positive return on equity of 3.07% and a negative net margin of 0.14%. NeoGenomics’s revenue for the quarter was up 50.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.05 earnings per share. NeoGenomics updated its FY 2019 guidance to $0.23-0.27 EPS.
Shares of NEO traded up $1.38 during mid-day trading on Thursday, hitting $25.75. 63,516 shares of the company’s stock were exchanged, compared to its average volume of 584,929. NeoGenomics has a fifty-two week low of $11.05 and a fifty-two week high of $24.84. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 198.08 and a beta of 0.78. The company has a 50 day simple moving average of $23.06. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.59 and a quick ratio of 1.46.
In other news, insider George Cardoza sold 151,676 shares of the stock in a transaction dated Friday, May 3rd. The shares were 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 $10,326,209.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider William Bonello sold 7,200 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $23.53, for a total transaction of $169,416.00. Following the sale, the insider now owns 13,935 shares of the company’s stock, valued at approximately $327,890.55. The disclosure for this sale can be found here. Insiders have sold 338,876 shares of company stock valued at $7,674,362 in the last quarter. Insiders own 8.80% of the company’s stock.
Several equities analysts have issued reports on the stock. BidaskClub upgraded shares of NeoGenomics from a “hold” rating to a “buy” rating in a research note on Friday, July 19th. Zacks Investment Research downgraded shares of NeoGenomics from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Needham & Company LLC restated a “buy” rating and issued a $24.00 price objective (up previously from $22.00) on shares of NeoGenomics in a research note on Wednesday, May 1st. Finally, Raymond James upped their price objective on shares of NeoGenomics from $23.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $21.56.
NeoGenomics Company Profile
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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