Equities analysts forecast that NeoGenomics, Inc. (NASDAQ:NEO) will post $65.83 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for NeoGenomics’ earnings, with the highest sales estimate coming in at $69.80 million and the lowest estimate coming in at $61.19 million. NeoGenomics posted sales of $60.49 million in the same quarter last year, which suggests a positive year-over-year growth rate of 8.8%. The business is expected to announce its next quarterly earnings results before the market opens on Wednesday, February 21st.
According to Zacks, analysts expect that NeoGenomics will report full year sales of $65.83 million for the current fiscal year, with estimates ranging from $238.98 million to $264.03 million. For the next year, analysts expect that the company will report sales of $278.03 million per share, with estimates ranging from $264.03 million to $292.93 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow NeoGenomics.
Several research firms have recently weighed in on NEO. BidaskClub cut shares of NeoGenomics from a “buy” rating to a “hold” rating in a research report on Thursday, December 21st. Royal Bank of Canada set a $23.00 price objective on shares of NeoGenomics and gave the company an “outperform” rating in a research report on Wednesday, January 3rd. Scotiabank set a $22.00 price objective on shares of NeoGenomics and gave the company an “outperform” rating in a research report on Wednesday, January 3rd. CIBC set a $19.00 price objective on shares of NeoGenomics and gave the company a “neutral” rating in a research report on Wednesday, January 3rd. Finally, Zacks Investment Research upgraded shares of NeoGenomics from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $15.83.
A number of large investors have recently modified their holdings of NEO. Empirical Finance LLC purchased a new position in NeoGenomics in the 3rd quarter worth $159,000. Teacher Retirement System of Texas bought a new stake in NeoGenomics in the 4th quarter worth $182,000. Howland Capital Management LLC grew its holdings in NeoGenomics by 67.6% in the 4th quarter. Howland Capital Management LLC now owns 21,782 shares of the medical research company’s stock worth $193,000 after acquiring an additional 8,782 shares during the last quarter. MetLife Investment Advisors LLC bought a new stake in NeoGenomics in the 4th quarter worth $235,000. Finally, Campbell & CO Investment Adviser LLC grew its holdings in NeoGenomics by 64.0% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 21,544 shares of the medical research company’s stock worth $240,000 after acquiring an additional 8,404 shares during the last quarter. Institutional investors own 83.11% of the company’s stock.
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NeoGenomics, Inc is an operator of a network of cancer-focused genetic testing laboratories. The Company operates in Laboratory Testing Segment. This segment delivers testing services to hospitals, pathologists, oncologists, other clinicians and researchers. It has laboratory locations in Ft. Myers and Tampa, Florida; Aliso Viejo, Fresno, Irvine, and West Sacramento, California; Houston, Texas and Nashville, and Tennessee.
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