Q1 2022 EPS Estimates for NeoGenomics, Inc. (NASDAQ:NEO) Reduced by Analyst

NeoGenomics, Inc. (NASDAQ:NEO) – SVB Leerink lowered their Q1 2022 earnings estimates for shares of NeoGenomics in a note issued to investors on Tuesday, January 11th. SVB Leerink analyst P. Souda now anticipates that the medical research company will post earnings per share of ($0.20) for the quarter, down from their previous estimate of ($0.14). SVB Leerink has a “Outperform” rating and a $45.00 price objective on the stock. SVB Leerink also issued estimates for NeoGenomics’ Q2 2022 earnings at ($0.18) EPS, Q3 2022 earnings at ($0.18) EPS, Q4 2022 earnings at ($0.17) EPS, FY2022 earnings at ($0.73) EPS and FY2023 earnings at ($0.47) EPS.

Other research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of NeoGenomics from a “sell” rating to a “hold” rating in a research note on Wednesday. Cowen began coverage on shares of NeoGenomics in a research note on Thursday, December 16th. They issued an “outperform” rating and a $42.00 price target on the stock. Morgan Stanley lowered shares of NeoGenomics from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $58.00 to $45.00 in a research report on Friday, November 5th. Needham & Company LLC cut their price objective on shares of NeoGenomics from $48.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, December 7th. 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 research report on Thursday, October 14th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $51.40.

NeoGenomics stock opened at $24.94 on Friday. 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 fifty-two week low of $24.03 and a fifty-two week high of $61.57. The company’s 50 day simple moving average is $34.38 and its 200 day simple moving average is $41.77. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of 69.28 and a beta of 0.63.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings data on Thursday, November 4th. The medical research company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.01. NeoGenomics had a net margin of 10.08% and a negative return on equity of 1.33%. The business had revenue of $121.30 million for the quarter, compared to analyst estimates of $125.09 million. During the same quarter last year, the firm earned $0.04 EPS. NeoGenomics’s quarterly revenue was down 3.3% compared to the same quarter last year.

In related news, insider Douglas Matthew Brown sold 33,333 shares of the company’s stock in a transaction dated Tuesday, November 23rd. The shares were sold at an average price of $37.19, for a total transaction of $1,239,654.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kathryn B. Mckenzie sold 1,846 shares of the company’s stock in a transaction dated Tuesday, December 21st. The stock was sold at an average price of $35.00, for a total transaction of $64,610.00. The disclosure for this sale can be found here. Insiders sold 68,513 shares of company stock worth $2,532,622 over the last 90 days. 4.70% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of NEO. Harbor Investment Advisory LLC bought a new position in shares of NeoGenomics in the third quarter worth about $55,000. Destiny Wealth Partners LLC bought a new position in shares of NeoGenomics in the third quarter worth about $65,000. Archer Investment Corp lifted its holdings in shares of NeoGenomics by 37.1% in the third quarter. Archer Investment Corp now owns 1,350 shares of the medical research company’s stock worth $65,000 after acquiring an additional 365 shares during the last quarter. James Investment Research Inc. lifted its holdings in shares of NeoGenomics by 47.5% in the third 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 during the last quarter. Finally, First Mercantile Trust Co. lifted its holdings in shares of NeoGenomics by 9.7% in the second quarter. First Mercantile Trust Co. now owns 3,078 shares of the medical research company’s stock worth $139,000 after acquiring an additional 273 shares during the last quarter. 93.29% of the stock is owned by hedge funds and other institutional investors.

About NeoGenomics

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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