NeoGenomics (NASDAQ:NEO) releases earnings guidance for fiscal 2022

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NeoGenomics (NASDAQ:NEO – Get Rating) issued an update to its earnings guidance for fiscal 2022 on Wednesday morning. The company provided guidance for earnings per share (EPS) of -$0.650 to -$0.530 for the period, compared to the Thomson Reuters consensus estimate of -$0.530. The company issued a revenue guidance of $530 million to $550 million, compared to the consensus estimate of $550.74 million.

Shares of NASDAQ NEO on Wednesday afternoon rose $1.13 to reach $16.00. 26,760 shares of the Company were exchanged compared to an average volume of 1,063,311. NeoGenomics has a 52-week low of $13.90 and a 52-week high of $54.74. The company has a quick ratio of 7.54, a current ratio of 7.81 and a debt to equity ratio of 0.48. The stock has a market cap of $1.98 billion, a P/E of -135.17 and a beta of 0.84. The company’s 50-day moving average price is $21.76 and its 200-day moving average price is $34.63.

NeoGenomics (NASDAQ:NEO – Get Rating) last released its quarterly earnings data on Wednesday, February 23rd. The medical research firm reported earnings per share (EPS) of $0.14 for the quarter, beating analyst consensus estimates of $0.15 by $0.01. NeoGenomics had a negative net margin of 1.72% and a negative return on equity of 4.17%. The company had revenue of $125.73 million for the quarter, compared to the consensus estimate of $125.77 million. In the same period last year, the company posted $0.12 per share. The company’s revenue fell 0.2% compared to the prior-year quarter. On average, sell-side analysts are forecasting that NeoGenomics will report year-to-date earnings per share of -0.66.

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NEO has been the subject of several recent research reports. Cowen opened coverage on NeoGenomics stock in a research note on Thursday, December 16th. They issued an outperformance rating and a price target of $42.00 for the company. Raymond James lowered his target price on NeoGenomics shares to $24.00 from $53.00 and ranked the company outperform in a research note on Thursday, February 24. Zacks Investment Research upgraded shares of NeoGenomics from a sell rating to a hold rating in a research note on Friday, March 4th. SVB Leerink lowered its target price on shares of NeoGenomics from $50.00 to $45.00 and issued a research note on Wednesday, January 12th with an outperform rating on the company. Finally, Needham & Company LLC lowered its target price on NeoGenomics shares to $29.00 from $41.00 and ranked a buy rating on the company in a research note on Thursday, February. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average buy rating and an average price target of $39.67.

In other news from NeoGenomics, CFO Kathryn B. Mckenzie sold 1,846 shares of the company’s shares in a transaction on Tuesday, December 21st. The shares sold at an average price of $35.00 for a total value of $64,610.00. The sale was disclosed in a legal filing with the SEC, which is available on the SEC’s website. In addition, CFO William Bonello sold 3,209 shares of the company’s shares in a transaction on Monday, March 7th. The stock sold at an average price of $18.29 for a total transaction of $58,692.61. The disclosure for this sale can be found here. Company insiders own 4.70% of the company’s shares.

A number of institutional investors and hedge funds have recently changed their positions in the business. Goldman Sachs Group Inc. increased its stake in NeoGenomics shares by 112.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 507,857 shares of the medical research company worth $17,327,000 after purchasing an additional 269,139 shares last quarter. Legal & General Group Plc increased its holdings of NeoGenomics shares by 9.5% in the fourth quarter. Legal & General Group Plc now owns 430,382 shares of the medical research company, valued at $14,685,000, after purchasing an additional 37,282 shares last quarter. Sei Investments Co. increased its stake in NeoGenomics shares by 36.4% in the fourth quarter. Sei Investments Co. now owns 288,883 shares of the medical research company, valued at $9,856,000, after purchasing an additional 77,125 shares last quarter. The California State Teachers Retirement System increased its holdings of NeoGenomics stock by 4.9% in the fourth quarter. The California State Teachers Retirement System now owns 160,355 shares of the medical research company worth $5,471,000 after purchasing an additional 7,421 shares last quarter. Finally, Thrivent Financial for Lutherans increased its holdings of NeoGenomics shares by 0.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 100,198 shares of the medical research company, valued at $3,419,000, after purchasing an additional 925 shares last quarter. Institutional investors and hedge funds own 97.04% of the company’s shares.

Company profile of NeoGenomics (get rating)

NeoGenomics, Inc is a clinical laboratory company engaged in diagnostic cancer genetic testing and pharmaceutical services. It operates through Clinical Services and Pharma Services segments. The Clinical Services segment provides cancer testing services to community-based pathologists, hospitals, academic centers and oncology groups.

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