Leerink Partnrs Boosts Earnings Estimates for NeoGenomics

NeoGenomics, Inc. (NASDAQ:NEO) – Stock analysts at Leerink Partnrs raised their FY2024 EPS estimates for shares of NeoGenomics in a report issued on Tuesday, January 7th. Leerink Partnrs analyst P. Souda now anticipates that the medical research company will post earnings per share of ($0.15) for the year, up from their previous estimate 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.

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

Several other equities research analysts have also recently issued reports on the stock. Bank of America raised their target price on shares of NeoGenomics from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Benchmark reaffirmed a “buy” rating and set a $18.00 price target on shares of NeoGenomics in a research report on Tuesday, September 24th. Jefferies Financial Group started coverage on shares of NeoGenomics in a research report on Tuesday, December 10th. They set a “buy” rating and a $22.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price target on shares of NeoGenomics in a research report on Friday. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.30.

NeoGenomics Stock Performance

Shares of NASDAQ NEO opened at $14.77 on Thursday. The company has a 50-day simple moving average of $16.82 and a 200-day simple moving average of $15.64. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.99 and a quick ratio of 1.91. NeoGenomics has a 12 month low of $12.77 and a 12 month high of $19.11. The company has a market cap of $1.90 billion, a PE ratio of -24.21 and a beta of 1.24.

Institutional Trading of NeoGenomics

A number of hedge funds and other institutional investors have recently made changes to their positions in NEO. Geode Capital Management LLC increased its stake in NeoGenomics by 1.2% during 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 purchasing an additional 36,136 shares during the last quarter. Jennison Associates LLC increased its stake in NeoGenomics by 4.7% during the third quarter. Jennison Associates LLC now owns 1,276,468 shares of the medical research company’s stock valued at $18,828,000 after purchasing an additional 57,041 shares during the last quarter. First Light Asset Management LLC increased its stake in NeoGenomics by 14.5% during the second quarter. First Light Asset Management LLC now owns 3,782,561 shares of the medical research company’s stock valued at $52,464,000 after purchasing an additional 480,396 shares during the last quarter. Blue Trust Inc. increased its stake in NeoGenomics by 42.3% during the third quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock valued at $46,000 after purchasing an additional 987 shares during the last quarter. Finally, Sei Investments Co. increased its stake in NeoGenomics by 152.6% during the second quarter. Sei Investments Co. now owns 263,761 shares of the medical research company’s stock valued at $3,658,000 after purchasing an additional 159,350 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Insider Transactions at NeoGenomics

In related news, General Counsel Alicia C. Olivo sold 5,175 shares of NeoGenomics stock in a transaction on Friday, November 15th. The shares were sold at an average price of $15.36, for a total value of $79,488.00. Following the completion of the sale, the general counsel now owns 37,129 shares in the company, valued at approximately $570,301.44. The trade was a 12.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.30% of the company’s stock.

About NeoGenomics

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.