Zacks: Analysts Anticipate NeoGenomics, Inc. (NASDAQ:NEO) Will Announce Quarterly Sales of $99.21 Million

Brokerages expect NeoGenomics, Inc. (NASDAQ:NEO) to report $99.21 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for NeoGenomics’ earnings. The highest sales estimate is $100.39 million and the lowest is $98.15 million. NeoGenomics reported sales of $69.10 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 43.6%. The company is expected to issue 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 year, with estimates ranging from $394.63 million to $402.50 million. For the next fiscal year, analysts expect that the firm will post sales of $442.82 million, with estimates ranging from $438.03 million to $450.50 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover NeoGenomics.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings data on Tuesday, July 30th. The medical research company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.02. The company had revenue of $101.71 million during the quarter, compared to analysts’ expectations of $97.32 million. NeoGenomics had a net margin of 0.57% and a return on equity of 4.97%. The firm’s quarterly revenue was up 50.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.05 EPS.

NEO has been the subject of several recent research reports. Leerink Swann set a $30.00 price target on shares of NeoGenomics and gave the company a “buy” rating in a report on Wednesday, July 31st. Zacks Investment Research lowered shares of NeoGenomics from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. BidaskClub upgraded shares of NeoGenomics from a “hold” rating to a “buy” rating in a report on Friday, July 19th. Raymond James boosted their price target on shares of NeoGenomics from $23.00 to $27.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, Needham & Company LLC set a $27.00 price target on shares of NeoGenomics and gave the company a “buy” rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $23.78.

In related news, insider William Bonello sold 17,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $24.83, for a total transaction of $422,110.00. Following the completion of the transaction, the insider now owns 23,735 shares in the company, valued at approximately $589,340.05. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven C. Jones sold 181,339 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $24.92, for a total transaction of $4,518,967.88. Following the transaction, the director now owns 245,234 shares of the company’s stock, valued at approximately $6,111,231.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 239,676 shares of company stock valued at $5,975,330. 8.80% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of NEO. Commonwealth Equity Services LLC increased its stake in NeoGenomics by 3.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 25,647 shares of the medical research company’s stock valued at $562,000 after purchasing an additional 945 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in NeoGenomics during the 1st quarter valued at approximately $664,000. NEXT Financial Group Inc increased its stake in NeoGenomics by 200.0% during the 2nd quarter. NEXT Financial Group Inc now owns 2,700 shares of the medical research company’s stock valued at $59,000 after purchasing an additional 1,800 shares in the last quarter. Everence Capital Management Inc. acquired a new position in NeoGenomics during the 1st quarter valued at approximately $386,000. Finally, ClariVest Asset Management LLC increased its stake in NeoGenomics by 288.8% during the 1st quarter. ClariVest Asset Management LLC now owns 112,679 shares of the medical research company’s stock valued at $2,304,000 after purchasing an additional 83,695 shares in the last quarter. Hedge funds and other institutional investors own 79.00% of the company’s stock.

NeoGenomics stock traded up $0.08 during trading hours on Wednesday, hitting $24.68. The company had a trading volume of 353,745 shares, compared to its average volume of 590,225. The firm has a market cap of $2.55 billion, a P/E ratio of 189.85 and a beta of 0.97. 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 has a 1 year low of $11.05 and a 1 year high of $26.89. The company has a 50-day moving average price of $24.70 and a two-hundred day moving average price of $22.14.

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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