NeoGenomics, Inc. (NEO) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS
NeoGenomics, Inc. (NASDAQ:NEO) issued its quarterly earnings data on Tuesday. The medical research company reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.01, Bloomberg Earnings reports. NeoGenomics had a negative net margin of 4.92% and a positive return on equity of 5.85%. The company had revenue of $66.09 million for the quarter, compared to analyst estimates of $62.95 million. During the same period in the prior year, the firm earned $0.04 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. NeoGenomics updated its FY17 guidance to $0.17-0.21 EPS.
NeoGenomics (NASDAQ:NEO) opened at 9.17 on Tuesday. The firm has a 50-day moving average of $8.66 and a 200 day moving average of $8.13. NeoGenomics has a 12-month low of $6.90 and a 12-month high of $9.88. The company’s market capitalization is $726.60 million.
In other news, VP Jennifer Balliet sold 3,334 shares of the company’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $7.50, for a total transaction of $25,005.00. Following the sale, the vice president now directly owns 10,049 shares in the company, valued at $75,367.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Steven A. Ross sold 70,833 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $7.76, for a total value of $549,664.08. Following the sale, the insider now owns 4,500 shares in the company, valued at $34,920. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 84,890 shares of company stock worth $665,707. Insiders own 12.20% of the company’s stock.
Several large investors have recently made changes to their positions in NEO. Summit Creek Advisors LLC boosted its stake in shares of NeoGenomics by 20.4% in the second quarter. Summit Creek Advisors LLC now owns 1,141,236 shares of the medical research company’s stock valued at $10,225,000 after buying an additional 193,371 shares in the last quarter. OLD National Bancorp IN bought a new stake in shares of NeoGenomics during the second quarter valued at $141,000. Janus Capital Management LLC bought a new stake in shares of NeoGenomics during the first quarter valued at $13,279,000. Tudor Investment Corp ET AL boosted its stake in shares of NeoGenomics by 69.8% in the first quarter. Tudor Investment Corp ET AL now owns 45,632 shares of the medical research company’s stock valued at $360,000 after buying an additional 18,762 shares in the last quarter. Finally, Highbridge Capital Management LLC bought a new stake in shares of NeoGenomics during the first quarter valued at $531,000. Hedge funds and other institutional investors own 77.77% of the company’s stock.
A number of research firms recently commented on NEO. BidaskClub raised shares of NeoGenomics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 19th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $11.00 price target on shares of NeoGenomics in a research report on Wednesday, April 26th. ValuEngine raised shares of NeoGenomics from a “sell” rating to a “hold” rating in a research report on Friday, June 23rd. Zacks Investment Research raised shares of NeoGenomics from a “sell” rating to a “hold” rating in a research report on Thursday, April 27th. Finally, BTIG Research reaffirmed a “buy” rating and set a $11.00 price target on shares of NeoGenomics in a research report on Sunday, May 28th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. NeoGenomics has an average rating of “Buy” and a consensus target price of $10.67.
NeoGenomics Company Profile
NeoGenomics, Inc is an operator of a network of cancer-focused genetic testing laboratories. The Company operates in Laboratory Testing Segment. This segment delivers testing services to hospitals, pathologists, oncologists, other clinicians and researchers. It has laboratory locations in Ft. Myers and Tampa, Florida; Aliso Viejo, Fresno, Irvine, and West Sacramento, California; Houston, Texas and Nashville, and Tennessee.
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