FY2024 EPS Estimates for NeoGenomics, Inc. (NASDAQ:NEO) Increased by William Blair

NeoGenomics, Inc. (NASDAQ:NEO) – Research analysts at William Blair upped their FY2024 earnings per share estimates for shares of NeoGenomics in a research note issued on Tuesday, September 24th. William Blair analyst A. Brackmann now forecasts that the medical research company will earn ($0.21) per share for the year, up from their previous estimate of ($0.24). The consensus estimate for NeoGenomics’ current full-year earnings is ($0.22) per share. William Blair also issued estimates for NeoGenomics’ Q4 2024 earnings at ($0.05) EPS, Q1 2025 earnings at ($0.03) EPS, Q2 2025 earnings at ($0.02) EPS and FY2025 earnings at ($0.08) EPS.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings results on Monday, July 29th. The medical research company reported $0.03 earnings per share (EPS) for the quarter. NeoGenomics had a negative return on equity of 2.72% and a negative net margin of 12.50%. The business had revenue of $164.50 million during the quarter, compared to the consensus estimate of $161.82 million. During the same quarter last year, the firm posted ($0.09) EPS. The company’s quarterly revenue was up 12.0% on a year-over-year basis.

Several other brokerages have also recently weighed in on NEO. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price objective on shares of NeoGenomics in a research note on Wednesday. Stephens reiterated an “overweight” rating and issued a $19.00 price target on shares of NeoGenomics in a research report on Tuesday, July 30th. Finally, Benchmark reissued a “buy” rating and set a $18.00 price target on shares of NeoGenomics in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.89.

NeoGenomics Price Performance

NeoGenomics stock opened at $14.50 on Friday. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of -22.27 and a beta of 1.19. The company has a current ratio of 2.01, a quick ratio of 1.93 and a debt-to-equity ratio of 0.37. NeoGenomics has a 12 month low of $11.03 and a 12 month high of $21.22. The stock’s 50 day moving average is $16.06 and its 200-day moving average is $14.94.

Institutional Trading of NeoGenomics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its stake in NeoGenomics by 107.2% in the second quarter. Blue Trust Inc. now owns 2,331 shares of the medical research company’s stock valued at $32,000 after buying an additional 1,206 shares during the period. Burkett Financial Services LLC acquired a new stake in shares of NeoGenomics in the 4th quarter valued at about $46,000. Canada Pension Plan Investment Board acquired a new position in NeoGenomics during the 2nd quarter worth approximately $57,000. PNC Financial Services Group Inc. grew its stake in NeoGenomics by 27.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,434 shares of the medical research company’s stock valued at $136,000 after acquiring an additional 1,791 shares during the period. Finally, Banque Cantonale Vaudoise increased its holdings in shares of NeoGenomics by 10.2% during the second quarter. Banque Cantonale Vaudoise now owns 17,575 shares of the medical research company’s stock valued at $244,000 after acquiring an additional 1,633 shares in the last quarter. Institutional investors and hedge funds own 98.50% 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.