Q1 2022 EPS Estimates for NeoGenomics, Inc. (NASDAQ:NEO) Reduced by Analyst

NeoGenomics, Inc. (NASDAQ:NEO) – Investment analysts at SVB Leerink decreased their Q1 2022 earnings per share estimates for shares of NeoGenomics in a report issued on Tuesday, January 11th. SVB Leerink analyst P. Souda now forecasts that the medical research company will post earnings per share of ($0.20) for the quarter, down from their previous estimate of ($0.14). SVB Leerink has a “Outperform” rating and a $45.00 price objective on the stock. SVB Leerink also issued estimates for NeoGenomics’ Q2 2022 earnings at ($0.18) EPS, Q3 2022 earnings at ($0.18) EPS, Q4 2022 earnings at ($0.17) EPS, FY2022 earnings at ($0.73) EPS and FY2023 earnings at ($0.47) EPS.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings data on Thursday, November 4th. The medical research company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. NeoGenomics had a net margin of 10.08% and a negative return on equity of 1.33%. The firm had revenue of $121.30 million for the quarter, compared to analyst estimates of $125.09 million. During the same quarter in the previous year, the business posted $0.04 EPS. The firm’s revenue was down 3.3% compared to the same quarter last year.

NEO has been the topic of a number of other research reports. Needham & Company LLC cut their price objective on shares of NeoGenomics from $48.00 to $41.00 and set a “buy” rating on the stock in a report on Tuesday, December 7th. Cowen began coverage on shares of NeoGenomics in a research note on Thursday, December 16th. They issued an “outperform” rating and a $42.00 target price on the stock. Raymond James upgraded shares of NeoGenomics from a “market perform” rating to an “outperform” rating and set a $53.00 target price on the stock in a research note on Thursday, October 14th. Stephens cut their target price on shares of NeoGenomics from $60.00 to $53.00 and set an “overweight” rating on the stock in a research note on Friday, November 5th. Finally, Zacks Investment Research upgraded shares of NeoGenomics from a “sell” rating to a “hold” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $51.40.

Shares of NEO stock opened at $24.94 on Friday. NeoGenomics has a 12 month low of $24.03 and a 12 month high of $61.57. The company has a debt-to-equity ratio of 0.47, a current ratio of 7.66 and a quick ratio of 7.42. The firm has a market capitalization of $3.07 billion, a P/E ratio of 69.28 and a beta of 0.63. The company’s fifty day moving average price is $34.38 and its two-hundred day moving average price is $41.77.

In related news, insider Douglas Matthew Brown sold 33,334 shares of the business’s stock in a transaction dated Friday, November 26th. The shares were sold at an average price of $36.85, for a total transaction of $1,228,357.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kathryn B. Mckenzie sold 1,846 shares of the company’s stock in a transaction dated Tuesday, December 21st. The stock was sold at an average price of $35.00, for a total transaction of $64,610.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,513 shares of company stock valued at $2,532,622. Insiders own 4.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of NEO. Artisan Partners Limited Partnership grew its position in NeoGenomics by 43.1% in the 3rd quarter. Artisan Partners Limited Partnership now owns 6,931,041 shares of the medical research company’s stock worth $334,353,000 after purchasing an additional 2,086,662 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of NeoGenomics by 36.7% in the third quarter. Wellington Management Group LLP now owns 7,585,848 shares of the medical research company’s stock valued at $365,942,000 after acquiring an additional 2,037,787 shares in the last quarter. Macquarie Group Ltd. boosted its holdings in shares of NeoGenomics by 134.3% in the third quarter. Macquarie Group Ltd. now owns 2,042,456 shares of the medical research company’s stock valued at $98,528,000 after acquiring an additional 1,170,745 shares in the last quarter. Schroder Investment Management Group bought a new position in shares of NeoGenomics in the third quarter valued at approximately $48,625,000. Finally, Blue Water Life Science Advisors LLC bought a new position in shares of NeoGenomics in the second quarter valued at approximately $31,719,000. Hedge funds and other institutional investors own 93.29% of the company’s stock.

About NeoGenomics

NeoGenomics, Inc is a clinical laboratory company, which engages in cancer genetics diagnostic testing and pharma services. It operates through the Clinical Services and Pharma Services segments. The Clinical Services segment offers cancer testing services to community-based pathologists, hospitals, academic centers, and oncology groups.

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