NeoGenomics, Inc. (NASDAQ:NEO) Expected to Post Earnings of $0.06 Per Share
Analysts expect NeoGenomics, Inc. (NASDAQ:NEO) to post earnings of $0.06 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for NeoGenomics’ earnings. The highest EPS estimate is $0.07 and the lowest is $0.05. NeoGenomics posted earnings of $0.05 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 20%. The firm is expected to announce its next quarterly earnings report on Tuesday, October 29th.
On average, analysts expect that NeoGenomics will report full-year earnings of $0.26 per share for the current financial year, with EPS estimates ranging from $0.25 to $0.28. For the next fiscal year, analysts forecast that the business will post earnings of $0.34 per share, with EPS estimates ranging from $0.32 to $0.35. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for NeoGenomics.
NeoGenomics (NASDAQ:NEO) last released its earnings results on Tuesday, July 30th. The medical research company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The firm had revenue of $101.71 million for the quarter, compared to analyst estimates of $97.32 million. NeoGenomics had a return on equity of 4.97% and a net margin of 0.57%. NeoGenomics’s revenue was up 50.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.05 earnings per share.
A number of research analysts recently issued reports on the company. Benchmark set a $27.00 target price on NeoGenomics and gave the stock a “buy” rating in a report on Wednesday, July 31st. ValuEngine lowered NeoGenomics from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Needham & Company LLC set a $27.00 target price on NeoGenomics and gave the stock a “buy” rating in a report on Wednesday, July 31st. Raymond James lifted their price target on NeoGenomics from $23.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, Leerink Swann set a $30.00 price target on NeoGenomics and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $23.78.
NASDAQ:NEO traded up $0.08 during mid-day trading on Monday, reaching $24.68. 353,745 shares of the stock were exchanged, compared to its average volume of 590,225. The business has a fifty day moving average price of $24.70 and a 200 day moving average price of $22.14. The firm has a market capitalization of $2.55 billion, a PE ratio of 189.85 and a beta of 0.97. NeoGenomics has a 1-year low of $11.05 and a 1-year high of $26.89. The company has a current ratio of 4.67, a quick ratio of 4.52 and a debt-to-equity ratio of 0.25.
In other NeoGenomics news, insider William Bonello sold 17,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $24.83, for a total transaction of $422,110.00. Following the completion of the sale, the insider now directly owns 23,735 shares in the company, valued at approximately $589,340.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven C. Jones sold 181,339 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $24.92, for a total value of $4,518,967.88. Following the sale, the director now owns 245,234 shares of the company’s stock, valued at $6,111,231.28. The disclosure for this sale can be found here. Insiders sold a total of 239,676 shares of company stock worth $5,975,330 in the last three months. 8.80% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in NEO. Dimensional Fund Advisors LP increased its stake in shares of NeoGenomics by 17.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,138,241 shares of the medical research company’s stock worth $14,352,000 after acquiring an additional 172,451 shares during the period. Deutsche Bank AG increased its stake in shares of NeoGenomics by 43.1% in the fourth quarter. Deutsche Bank AG now owns 182,257 shares of the medical research company’s stock worth $2,297,000 after acquiring an additional 54,911 shares during the period. LS Investment Advisors LLC acquired a new stake in shares of NeoGenomics in the first quarter worth $188,000. BNP Paribas Arbitrage SA increased its stake in shares of NeoGenomics by 77,613.6% in the first quarter. BNP Paribas Arbitrage SA now owns 17,097 shares of the medical research company’s stock worth $350,000 after acquiring an additional 17,075 shares during the period. Finally, Bank of Montreal Can increased its stake in shares of NeoGenomics by 100.3% in the first quarter. Bank of Montreal Can now owns 12,775 shares of the medical research company’s stock worth $261,000 after acquiring an additional 6,398 shares during the period. Hedge funds and other institutional investors own 79.00% of the company’s stock.
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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