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

NeoGenomics (NASDAQ:NEO) posted its earnings results on Tuesday. The medical research company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02, FiscalAI reports. The company had revenue of $190.17 million for 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 Price Performance

NEO opened at $11.38 on Tuesday. NeoGenomics has a 1 year low of $4.72 and a 1 year high of $14.73. The company’s 50 day simple moving average is $12.18 and its 200 day simple moving average is $10.07. The stock has a market capitalization of $1.47 billion, a PE ratio of -12.93 and a beta of 1.58. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.62 and a current ratio of 3.91.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at NeoGenomics

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada increased its stake in NeoGenomics by 51.2% during the 1st quarter. Royal Bank of Canada now owns 56,026 shares of the medical research company’s stock worth $532,000 after buying an additional 18,966 shares during the period. AQR Capital Management LLC purchased a new stake in shares of NeoGenomics during the first quarter worth about $271,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of NeoGenomics by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 75,798 shares of the medical research company’s stock worth $719,000 after acquiring an additional 3,254 shares in the last quarter. Intech Investment Management LLC boosted its holdings in NeoGenomics by 19.7% in the first quarter. Intech Investment Management LLC now owns 151,806 shares of the medical research company’s stock valued at $1,441,000 after purchasing an additional 24,965 shares during the last quarter. Finally, Creative Planning grew its stake in NeoGenomics by 20.4% during the 2nd quarter. Creative Planning now owns 16,735 shares of the medical research company’s stock valued at $122,000 after purchasing an additional 2,840 shares in the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

About NeoGenomics

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.