$99.21 Million in Sales Expected for NeoGenomics, Inc. (NASDAQ:NEO) This Quarter
Equities analysts expect that NeoGenomics, Inc. (NASDAQ:NEO) will announce sales of $99.21 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for NeoGenomics’ earnings, with estimates ranging from $98.15 million to $100.39 million. NeoGenomics reported sales of $69.10 million during the same quarter last year, which indicates a positive year-over-year growth rate of 43.6%. The business is expected to announce its next earnings results on Tuesday, October 29th.
On average, analysts expect that NeoGenomics will report full year sales of $398.87 million for the current financial year, with estimates ranging from $394.63 million to $402.50 million. For the next year, analysts anticipate that the company will post sales of $442.82 million, with estimates ranging from $438.03 million to $450.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover NeoGenomics.
NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Tuesday, July 30th. The medical research company reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.02. NeoGenomics had a net margin of 0.57% and a return on equity of 4.97%. The business had revenue of $101.71 million during the quarter, compared to the consensus estimate of $97.32 million. During the same period in the previous year, the firm posted $0.05 earnings per share. The business’s revenue for the quarter was up 50.1% compared to the same quarter last year.
NEO has been the subject of a number of recent analyst reports. Needham & Company LLC set a $27.00 price objective on shares of NeoGenomics and gave the company a “buy” rating in a report on Wednesday, July 31st. Zacks Investment Research cut shares of NeoGenomics from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. BidaskClub raised shares of NeoGenomics from a “hold” rating to a “buy” rating in a research note on Friday, July 19th. ValuEngine cut shares of NeoGenomics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 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, July 31st. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. NeoGenomics currently has an average rating of “Buy” and an average target price of $23.78.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Prudential PLC acquired a new stake in NeoGenomics in the 2nd quarter valued at about $289,000. Royal Bank of Canada lifted its holdings in NeoGenomics by 127.9% in the 2nd quarter. Royal Bank of Canada now owns 10,465 shares of the medical research company’s stock valued at $230,000 after acquiring an additional 5,874 shares during the last quarter. Voloridge Investment Management LLC lifted its holdings in NeoGenomics by 25.0% in the 2nd quarter. Voloridge Investment Management LLC now owns 92,718 shares of the medical research company’s stock valued at $2,034,000 after acquiring an additional 18,549 shares during the last quarter. Nuveen Asset Management LLC acquired a new stake in NeoGenomics in the 2nd quarter valued at about $19,966,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in NeoGenomics by 62.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 18,402 shares of the medical research company’s stock valued at $404,000 after acquiring an additional 7,077 shares during the last quarter. 83.06% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ NEO traded up $0.70 on Monday, reaching $25.24. 473,100 shares of the company’s stock traded hands, compared to its average volume of 922,815. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 194.15 and a beta of 0.96. The stock has a 50 day moving average price of $23.77 and a 200-day moving average price of $21.36. NeoGenomics has a fifty-two week low of $11.05 and a fifty-two week high of $26.81. The company has a debt-to-equity ratio of 0.25, a quick ratio of 4.52 and a current ratio of 4.67.
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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