NeoGenomics, Inc. (NASDAQ:NEO) gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $15.13, but opened at $16.04. NeoGenomics shares last traded at $17.71, with a volume of 2253858 shares.
The medical research company reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.03. NeoGenomics had a negative return on equity of 0.36% and a negative net margin of 0.98%. The firm had revenue of $69.10 million for the quarter, compared to analysts’ expectations of $66.13 million. During the same quarter last year, the firm earned $0.01 earnings per share. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year.
NEO has been the topic of a number of research analyst reports. Zacks Investment Research cut NeoGenomics from a “hold” rating to a “sell” rating in a report on Thursday, July 19th. BidaskClub cut NeoGenomics from a “strong-buy” rating to a “buy” rating in a report on Friday, August 10th. Leerink Swann initiated coverage on NeoGenomics in a report on Tuesday, August 21st. They issued an “outperform” rating and a $18.00 target price on the stock. Finally, First Analysis set a $16.00 target price on NeoGenomics and gave the company a “buy” rating in a report on Tuesday, September 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $19.25.
The company has a debt-to-equity ratio of 0.77, a current ratio of 1.74 and a quick ratio of 1.59. The stock has a market cap of $1.30 billion, a P/E ratio of 295.17 and a beta of 0.42.
About NeoGenomics (NASDAQ:NEO)
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.
See Also: How Do Tariffs Affect Trade Balances?
Receive News & Ratings for NeoGenomics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NeoGenomics and related companies with MarketBeat.com's FREE daily email newsletter.