Zacks: Brokerages Anticipate NeoGenomics (NEO) Will Post Quarterly Sales of $65.57 Million

Analysts forecast that NeoGenomics (NASDAQ:NEO) will post sales of $65.57 million for the current quarter, Zacks reports. Two analysts have provided estimates for NeoGenomics’ earnings, with the lowest sales estimate coming in at $65.10 million and the highest estimate coming in at $66.03 million. NeoGenomics reported sales of $66.09 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 0.8%. The company is expected to issue its next quarterly earnings results on Tuesday, July 24th.

On average, analysts expect that NeoGenomics will report full-year sales of $264.16 million for the current year, with estimates ranging from $262.30 million to $266.02 million. For the next fiscal year, analysts forecast that the business will post sales of $292.70 million per share, with estimates ranging from $288.00 million to $297.40 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover NeoGenomics.

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NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings data on Tuesday, May 1st. The medical research company reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.01. The business had revenue of $63.40 million during the quarter, compared to the consensus estimate of $62.31 million. NeoGenomics had a positive return on equity of 3.19% and a negative net margin of 0.86%. The business’s revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.03 earnings per share.

NEO has been the subject of several analyst reports. Canaccord Genuity boosted their price objective on NeoGenomics from $23.00 to $24.00 in a research report on Tuesday, March 13th. BidaskClub upgraded NeoGenomics from a “hold” rating to a “buy” rating in a research report on Wednesday, April 18th. ValuEngine upgraded NeoGenomics from a “hold” rating to a “buy” rating in a research report on Tuesday, April 17th. First Analysis downgraded NeoGenomics from an “overweight” rating to an “equal weight” rating and set a $11.00 price objective for the company. in a research report on Wednesday, May 2nd. Finally, Zacks Investment Research upgraded NeoGenomics from a “sell” rating to a “hold” rating in a research report on Thursday, March 1st. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $16.50.

In related news, insider Steven A. Ross sold 81,999 shares of the business’s stock in a transaction that occurred on Thursday, May 10th. The stock was sold at an average price of $10.78, for a total transaction of $883,949.22. Following the sale, the insider now owns 4,500 shares of the company’s stock, valued at $48,510. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Jennifer Balliet sold 13,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $11.24, for a total value of $146,120.00. Following the sale, the vice president now directly owns 13,000 shares in the company, valued at approximately $146,120. The disclosure for this sale can be found here. 12.20% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of NEO. Wells Fargo & Company MN increased its holdings in shares of NeoGenomics by 39.6% in the third quarter. Wells Fargo & Company MN now owns 89,392 shares of the medical research company’s stock valued at $995,000 after buying an additional 25,359 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of NeoGenomics by 5.7% in the third quarter. Schwab Charles Investment Management Inc. now owns 211,040 shares of the medical research company’s stock valued at $2,349,000 after buying an additional 11,386 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of NeoGenomics by 12.7% in the third quarter. California Public Employees Retirement System now owns 101,663 shares of the medical research company’s stock valued at $1,132,000 after buying an additional 11,463 shares in the last quarter. Cowen Prime Services LLC grew its position in NeoGenomics by 6.7% during the 4th quarter. Cowen Prime Services LLC now owns 1,140,589 shares of the medical research company’s stock worth $10,106,000 after purchasing an additional 71,215 shares in the last quarter. Finally, Howland Capital Management LLC grew its position in NeoGenomics by 67.6% during the 4th quarter. Howland Capital Management LLC now owns 21,782 shares of the medical research company’s stock worth $193,000 after purchasing an additional 8,782 shares in the last quarter. 82.24% of the stock is currently owned by institutional investors.

Shares of NASDAQ NEO traded down $0.06 during midday trading on Monday, hitting $11.24. 291,521 shares of the company’s stock were exchanged, compared to its average volume of 506,531. The company has a current ratio of 2.03, a quick ratio of 1.85 and a debt-to-equity ratio of 0.53. The company has a market cap of $910.97 million, a PE ratio of 187.33, a P/E/G ratio of 6.28 and a beta of 0.41. NeoGenomics has a twelve month low of $7.08 and a twelve month high of $11.63.

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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