NeoGenomics (NASDAQ:NEO) Announces Earnings Results, Beats Estimates By $0.02 EPS

NeoGenomics (NASDAQ:NEO) released its earnings results on Tuesday. The medical research company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.02, FiscalAI reports. The company had revenue of $190.17 million during the quarter, compared to the consensus estimate of $188.25 million. NeoGenomics had a negative return on equity of 3.36% and a negative net margin of 16.00%.

NeoGenomics Stock Performance

NASDAQ:NEO opened at $11.38 on Tuesday. The firm has a market capitalization of $1.47 billion, a PE ratio of -12.93 and a beta of 1.58. The business’s fifty day moving average price is $12.18 and its 200 day moving average price is $10.07. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.91 and a quick ratio of 3.62. NeoGenomics has a 12 month low of $4.72 and a 12 month high of $14.73.

Insider Transactions at NeoGenomics

In other news, EVP Alicia C. Olivo sold 20,916 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $12.00, for a total value of $250,992.00. Following the transaction, the executive vice president owned 31,083 shares in the company, valued at approximately $372,996. This represents a 40.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Warren Stone sold 22,128 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $12.50, for a total value of $276,600.00. Following the sale, the chief operating officer owned 121,631 shares of the company’s stock, valued at approximately $1,520,387.50. The trade was a 15.39% decrease in their position. The SEC filing for this sale provides additional information. 2.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NEO. Loomis Sayles & Co. L P acquired a new stake in NeoGenomics during the 4th quarter worth $19,182,000. American Capital Management Inc. boosted its stake in NeoGenomics by 120.9% in the third quarter. American Capital Management Inc. now owns 2,345,263 shares of the medical research company’s stock valued at $18,105,000 after acquiring an additional 1,283,390 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of NeoGenomics during the second quarter worth about $6,071,000. First Light Asset Management LLC increased its position in shares of NeoGenomics by 13.3% during the second quarter. First Light Asset Management LLC now owns 6,846,432 shares of the medical research company’s stock worth $50,047,000 after purchasing an additional 803,610 shares in the last quarter. Finally, Squarepoint Ops LLC increased its position in shares of NeoGenomics by 246.8% during the second quarter. Squarepoint Ops LLC now owns 735,473 shares of the medical research company’s stock worth $5,376,000 after purchasing an additional 523,407 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NEO. Weiss Ratings reiterated a “sell (d-)” rating on shares of NeoGenomics in a report on Monday, December 29th. Leerink Partners set a $14.00 target price on NeoGenomics in a report on Tuesday, October 28th. Needham & Company LLC reissued a “buy” rating and set a $14.00 target price on shares of NeoGenomics in a research note on Monday, January 12th. TD Cowen restated a “buy” rating on shares of NeoGenomics in a report on Wednesday, January 7th. Finally, Zacks Research raised NeoGenomics from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $12.00.

NeoGenomics Company Profile

NeoGenomics, traded on the Nasdaq under the symbol NEO, is a leading provider of cancer-focused genetic and molecular testing services. Headquartered in Fort Myers, Florida, the company operates an integrated network of CAP-accredited and CLIA-certified laboratories across the United States, Europe and Asia. NeoGenomics delivers diagnostic insights that support oncologists, pathologists and healthcare institutions in the detection, prognosis and treatment of hematologic and solid tumor cancers.

The company’s core service offerings include flow cytometry, immunohistochemistry, fluorescence in situ hybridization (FISH), karyotyping and advanced molecular assays such as next-generation sequencing (NGS) panels and polymerase chain reaction (PCR) tests.