NeoGenomics, Inc. (NASDAQ:NEO) Expected to Announce Quarterly Sales of $112.58 Million

Equities analysts expect NeoGenomics, Inc. (NASDAQ:NEO) to post $112.58 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for NeoGenomics’ earnings, with the highest sales estimate coming in at $114.40 million and the lowest estimate coming in at $109.80 million. NeoGenomics posted sales of $106.03 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.2%. The business is scheduled to report its next earnings results before the market opens on Wednesday, May 5th.

According to Zacks, analysts expect that NeoGenomics will report full year sales of $503.08 million for the current financial year, with estimates ranging from $487.20 million to $540.00 million. For the next financial year, analysts expect that the company will post sales of $581.04 million, with estimates ranging from $563.11 million to $594.00 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for NeoGenomics.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings results on Wednesday, February 24th. The medical research company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.08. The company had revenue of $126.00 million during the quarter, compared to analyst estimates of $123.45 million. NeoGenomics had a negative net margin of 1.16% and a positive return on equity of 0.71%. The firm’s revenue was up 17.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 EPS.

NEO has been the topic of a number of analyst reports. SVB Leerink lifted their price target on NeoGenomics from $50.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, January 8th. Zacks Investment Research upgraded NeoGenomics from a “sell” rating to a “hold” rating in a research report on Tuesday, March 23rd. Craig Hallum upped their price target on NeoGenomics from $50.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, February 25th. Needham & Company LLC restated a “buy” rating and issued a $65.00 price target on shares of NeoGenomics in a research report on Friday, April 16th. Finally, Raymond James reissued a “market perform” rating on shares of NeoGenomics in a research note on Wednesday, March 3rd. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $50.05.

Several large investors have recently modified their holdings of NEO. Norges Bank acquired a new stake in NeoGenomics during the fourth quarter valued at approximately $50,808,000. BlackRock Inc. increased its stake in NeoGenomics by 5.3% in the 4th quarter. BlackRock Inc. now owns 17,246,570 shares of the medical research company’s stock valued at $928,557,000 after buying an additional 861,490 shares during the period. Canada Pension Plan Investment Board acquired a new position in NeoGenomics in the 4th quarter valued at approximately $32,304,000. Compagnie Lombard Odier SCmA acquired a new position in NeoGenomics in the 1st quarter valued at approximately $17,411,000. Finally, Candriam Luxembourg S.C.A. increased its stake in shares of NeoGenomics by 747.6% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 296,528 shares of the medical research company’s stock worth $15,966,000 after purchasing an additional 261,545 shares during the last quarter. 91.06% of the stock is owned by institutional investors.

Shares of NeoGenomics stock opened at $50.67 on Friday. NeoGenomics has a fifty-two week low of $25.19 and a fifty-two week high of $61.57. The company’s 50 day moving average price is $47.95 and its two-hundred day moving average price is $49.02. The firm has a market capitalization of $5.93 billion, a P/E ratio of -1,688.44 and a beta of 0.79. The company has a debt-to-equity ratio of 0.25, a current ratio of 6.54 and a quick ratio of 6.22.

NeoGenomics Company Profile

NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States, Europe, and Asia. It operates in two segments, Clinical Services and Pharma Services. The company offers testing services to hospitals, reference labs, pathologists, oncologists, clinicians, pharmaceutical firms, and researchers It provides cytogenetics testing services to study normal and abnormal chromosomes and their relationship to diseases; fluorescence in-situ hybridization testing services that focus on detecting and locating the presence or absence of specific DNA sequences and genes on chromosomes; flow cytometry testing services to measure the characteristics of cell populations; and immunohistochemistry and digital imaging testing services to localize cellular proteins in tissue section, as well as to allow clients to visualize scanned slides, and perform quantitative analysis for various stains.

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