Analysts predict that NeoGenomics, Inc. (NASDAQ:NEO) will post $70.43 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for NeoGenomics’ earnings, with estimates ranging from $69.30 million to $71.00 million. NeoGenomics posted sales of $67.79 million during the same quarter last year, which suggests a positive year over year growth rate of 3.9%. The company is expected to report its next earnings results on Wednesday, February 20th.
According to Zacks, analysts expect that NeoGenomics will report full-year sales of $270.65 million for the current year, with estimates ranging from $269.60 million to $271.20 million. For the next financial year, analysts expect that the firm will post sales of $302.46 million, with estimates ranging from $300.96 million to $303.91 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for NeoGenomics.
NeoGenomics (NASDAQ:NEO) last released its quarterly earnings data on Tuesday, October 30th. The medical research company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.03. NeoGenomics had a net margin of 1.70% and a return on equity of 3.15%. The business had revenue of $69.10 million during the quarter, compared to analysts’ expectations of $66.13 million. During the same quarter in the prior year, the company earned $0.01 EPS. The firm’s quarterly revenue was up 16.8% on a year-over-year basis.
A number of analysts recently commented on the stock. Raymond James upped their price objective on shares of NeoGenomics from $16.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, October 31st. Benchmark set a $22.00 price objective on shares of NeoGenomics and gave the company a “buy” rating in a research report on Thursday, November 1st. BidaskClub upgraded shares of NeoGenomics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 27th. Zacks Investment Research upgraded shares of NeoGenomics from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective for the company in a research report on Saturday, November 3rd. Finally, First Analysis set a $16.00 target price on NeoGenomics and gave the stock a “buy” rating in a report on Tuesday, September 18th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and three have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $20.00.
NEO opened at $16.97 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.74 and a quick ratio of 1.59. NeoGenomics has a 12 month low of $7.08 and a 12 month high of $19.04. The firm has a market capitalization of $1.46 billion, a P/E ratio of 282.83 and a beta of -0.01.
Hedge funds have recently added to or reduced their stakes in the business. First Light Asset Management LLC grew its holdings in shares of NeoGenomics by 8.4% in the 2nd quarter. First Light Asset Management LLC now owns 5,162,063 shares of the medical research company’s stock valued at $67,675,000 after acquiring an additional 401,731 shares in the last quarter. BlackRock Inc. grew its holdings in shares of NeoGenomics by 22.4% in the 3rd quarter. BlackRock Inc. now owns 5,079,026 shares of the medical research company’s stock valued at $77,960,000 after acquiring an additional 929,697 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in shares of NeoGenomics by 0.7% in the 2nd quarter. Artisan Partners Limited Partnership now owns 2,175,072 shares of the medical research company’s stock valued at $28,515,000 after acquiring an additional 14,583 shares in the last quarter. Eagle Asset Management Inc. bought a new position in shares of NeoGenomics in the 3rd quarter valued at about $33,116,000. Finally, Granite Investment Partners LLC grew its holdings in shares of NeoGenomics by 4.1% in the 3rd quarter. Granite Investment Partners LLC now owns 1,684,944 shares of the medical research company’s stock valued at $25,864,000 after acquiring an additional 65,674 shares in the last quarter. Hedge funds and other institutional investors own 80.83% of the company’s stock.
NeoGenomics Company Profile
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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