Leerink Partnrs Expects Increased Earnings for NeoGenomics

NeoGenomics, Inc. (NASDAQ:NEO) – Equities researchers at Leerink Partnrs boosted their FY2024 earnings per share estimates for NeoGenomics in a research note issued on Tuesday, January 7th. Leerink Partnrs analyst P. Souda now forecasts that the medical research company will post earnings of ($0.15) per share for the year, up from their prior forecast of ($0.16). The consensus estimate for NeoGenomics’ current full-year earnings is ($0.16) per share. Leerink Partnrs also issued estimates for NeoGenomics’ Q4 2024 earnings at ($0.03) EPS, Q1 2025 earnings at ($0.02) EPS, Q2 2025 earnings at ($0.01) EPS, Q3 2025 earnings at ($0.01) EPS, Q4 2025 earnings at $0.00 EPS and FY2025 earnings at ($0.04) EPS.

Several other brokerages also recently commented on NEO. Benchmark reissued a “buy” rating and issued a $18.00 price target on shares of NeoGenomics in a research report on Tuesday, September 24th. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 target price on shares of NeoGenomics in a report on Wednesday, November 6th. Jefferies Financial Group assumed coverage on shares of NeoGenomics in a report on Tuesday, December 10th. They set a “buy” rating and a $22.00 price target for the company. Finally, Bank of America lifted their price objective on NeoGenomics from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.30.

NeoGenomics Trading Up 1.4 %

Shares of NASDAQ NEO opened at $18.61 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.91 and a current ratio of 1.99. NeoGenomics has a 52 week low of $12.77 and a 52 week high of $19.12. The business has a 50 day simple moving average of $16.81 and a 200 day simple moving average of $15.63. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of -30.51 and a beta of 1.24.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Tuesday, November 5th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. NeoGenomics had a negative return on equity of 2.11% and a negative net margin of 12.07%. The firm had revenue of $167.80 million for the quarter, compared to the consensus estimate of $167.00 million. During the same quarter in the previous year, the company earned ($0.06) EPS. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB lifted its holdings in shares of NeoGenomics by 2.8% during the fourth quarter. Nordea Investment Management AB now owns 77,534 shares of the medical research company’s stock valued at $1,301,000 after acquiring an additional 2,125 shares during the period. Versant Capital Management Inc increased its position in shares of NeoGenomics by 174.9% during the 4th quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company’s stock worth $30,000 after purchasing an additional 1,142 shares in the last quarter. Franklin Resources Inc. lifted its holdings in NeoGenomics by 2.0% during the 3rd quarter. Franklin Resources Inc. now owns 2,043,840 shares of the medical research company’s stock valued at $28,225,000 after purchasing an additional 39,740 shares during the last quarter. Geode Capital Management LLC boosted its position in NeoGenomics by 1.2% in the third quarter. Geode Capital Management LLC now owns 3,051,806 shares of the medical research company’s stock valued at $45,022,000 after buying an additional 36,136 shares in the last quarter. Finally, State Street Corp boosted its position in NeoGenomics by 1.6% in the third quarter. State Street Corp now owns 4,958,582 shares of the medical research company’s stock valued at $73,139,000 after buying an additional 80,449 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

Insider Buying and Selling

In other news, General Counsel Alicia C. Olivo sold 5,175 shares of NeoGenomics stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $15.36, for a total transaction of $79,488.00. Following the sale, the general counsel now directly owns 37,129 shares in the company, valued at approximately $570,301.44. The trade was a 12.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by company insiders.

NeoGenomics Company Profile

NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States and the United Kingdom. It operates through Clinical Services and Advanced Diagnostics segments. The company offers testing services to hospitals, academic centers, pathologists, oncologists, clinicians, pharmaceutical companies, and clinical laboratories.