$128.05 Million in Sales Expected for NeoGenomics, Inc. (NASDAQ:NEO) This Quarter

Wall Street brokerages forecast that NeoGenomics, Inc. (NASDAQ:NEO) will report $128.05 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for NeoGenomics’ earnings, with the highest sales estimate coming in at $135.00 million and the lowest estimate coming in at $124.49 million. NeoGenomics reported sales of $126.00 million during the same quarter last year, which would suggest a positive year over year growth rate of 1.6%. The company is expected to announce its next quarterly earnings results on Wednesday, February 23rd.

On average, analysts expect that NeoGenomics will report full-year sales of $484.22 million for the current fiscal year, with estimates ranging from $483.09 million to $486.32 million. For the next year, analysts expect that the business will post sales of $569.00 million, with estimates ranging from $560.11 million to $575.10 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow NeoGenomics.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings data on Thursday, November 4th. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, beating 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 company had revenue of $121.30 million during the quarter, compared to analysts’ expectations of $125.09 million. During the same quarter in the prior year, the company posted $0.04 EPS. The business’s revenue was down 3.3% on a year-over-year basis.

Several equities research analysts have recently weighed in on NEO shares. SVB Leerink lowered their target price on shares of NeoGenomics from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, November 5th. Morgan Stanley lowered shares of NeoGenomics from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $58.00 to $45.00 in a report on Friday, November 5th. Stephens decreased their price objective on shares of NeoGenomics from $60.00 to $53.00 and set an “overweight” rating on the stock in a report on Friday, November 5th. Benchmark increased their price objective on shares of NeoGenomics from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, August 26th. Finally, Raymond James raised shares of NeoGenomics from a “market perform” rating to an “outperform” rating and set a $53.00 price objective on the stock in a report on Thursday, October 14th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $54.89.

Large investors have recently made changes to their positions in the stock. Harbor Investment Advisory LLC acquired a new stake in NeoGenomics during the 3rd quarter worth approximately $55,000. Captrust Financial Advisors raised its holdings in NeoGenomics by 516.3% during the 1st quarter. Captrust Financial Advisors now owns 1,325 shares of the medical research company’s stock worth $64,000 after buying an additional 1,110 shares during the period. Destiny Wealth Partners LLC acquired a new stake in NeoGenomics during the 3rd quarter worth approximately $65,000. Archer Investment Corp raised its holdings in NeoGenomics by 37.1% during the 3rd quarter. Archer Investment Corp now owns 1,350 shares of the medical research company’s stock worth $65,000 after buying an additional 365 shares during the period. Finally, James Investment Research Inc. grew its stake in shares of NeoGenomics by 47.5% during the 3rd quarter. James Investment Research Inc. now owns 1,550 shares of the medical research company’s stock worth $75,000 after acquiring an additional 499 shares in the last quarter. Institutional investors and hedge funds own 89.98% of the company’s stock.

Shares of NEO traded up $0.35 during trading hours on Friday, hitting $37.63. The stock had a trading volume of 467,993 shares, compared to its average volume of 862,890. The company’s fifty day moving average is $44.06 and its two-hundred day moving average is $44.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 7.66 and a quick ratio of 7.42. NeoGenomics has a 52 week low of $35.71 and a 52 week high of $61.57. The stock has a market capitalization of $4.63 billion, a price-to-earnings ratio of 104.53 and a beta of 0.60.

NeoGenomics Company Profile

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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Earnings History and Estimates for NeoGenomics (NASDAQ:NEO)

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