NeoGenomics (NEO) Releases FY 2019 Earnings Guidance

NeoGenomics (NASDAQ:NEO) issued an update on its FY 2019 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.23-0.25 for the period, compared to the Thomson Reuters consensus estimate of $0.22. The company issued revenue guidance of $379-395 million, compared to the consensus revenue estimate of $385.69 million.

Several research analysts have recently weighed in on NEO shares. BidaskClub raised shares of NeoGenomics from a hold rating to a buy rating in a research report on Tuesday, January 29th. ValuEngine raised shares of NeoGenomics from a buy rating to a strong-buy rating in a research report on Thursday, January 10th. Zacks Investment Research raised shares of NeoGenomics from a hold rating to a buy rating and set a $14.00 target price for the company in a research report on Tuesday, January 8th. Needham & Company LLC assumed coverage on shares of NeoGenomics in a research note on Thursday, January 3rd. They issued a buy rating and a $14.00 price objective for the company. Finally, Raymond James restated a buy rating and issued a $24.00 price objective on shares of NeoGenomics in a research note on Tuesday, December 4th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. NeoGenomics has an average rating of Buy and a consensus price target of $19.33.

NASDAQ:NEO opened at $16.47 on Tuesday. NeoGenomics has a 1-year low of $7.23 and a 1-year high of $19.04. The company has a debt-to-equity ratio of 0.32, a current ratio of 4.13 and a quick ratio of 3.98. The firm has a market capitalization of $1.65 billion, a P/E ratio of 274.42 and a beta of 0.79.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings results on Tuesday, February 19th. The medical research company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. NeoGenomics had a return on equity of 2.63% and a net margin of 1.70%. The business had revenue of $76.50 million during the quarter, compared to the consensus estimate of $71.29 million. During the same quarter last year, the firm posted $0.05 EPS. The company’s quarterly revenue was up 24.6% on a year-over-year basis. As a group, sell-side analysts anticipate that NeoGenomics will post 0.11 EPS for the current year.

In related news, major shareholder Electric Co General sold 10,835,145 shares of the company’s stock in a transaction that occurred on Friday, December 14th. The stock was sold at an average price of $12.00, for a total value of $130,021,740.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kevin C. Johnson bought 26,000 shares of NeoGenomics stock in a transaction that occurred on Friday, December 21st. The stock was bought at an average price of $11.60 per share, for a total transaction of $301,600.00. Following the completion of the acquisition, the director now directly owns 103,866 shares of the company’s stock, valued at $1,204,845.60. The disclosure for this purchase can be found here. 12.20% of the stock is owned by insiders.

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About NeoGenomics

NeoGenomics, Inc, together with its subsidiaries, operates a network of cancer-focused genetic testing laboratories in the United States. It operates through Clinical Services and Pharma Services segments. The company laboratories provide genetic and molecular testing services to hospitals, pathologists, oncologists, urologists, other clinicians and researchers, pharmaceutical firms, and other clinical laboratories.

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