Neogenomics Inc Up 9.01% To $15.97 After Earnings Beat

Tuesday, November 7, 2023 - Neogenomics Inc (NEO) reported upside earnings and revenues today.

The consensus among analysts for Neogenomics Inc was for an earnings per share (EPS) loss of $0.08 per share. The firm was able to surpass those projections, reporting an EPS loss of $0.00 per share, a positive surprise of $0.08. Profits rose 0% year-over-year after reporting an EPS loss of $0.14 per share in its year-ago quarter. The positive growth rate signals that the Healthcare company .

Revenues were upbeat at $152 million. That is an increase of 17.99% in revenues from the year-ago report and is 7.01% higher than consensus estimates set at $142 million.

The stock is up 9.01% to $15.97 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 57. Meanwhile, the average Wall Street analyst rated the stock a Buy.

NeoGenomics Inc operates a network of cancer-focused genetic testing laboratories in the United States as well as a laboratory in Switzerland. The company operates into two segments namely Clinical Services and Pharma Services. It offers types of genetic and molecular testing services namely Cytogenetics, Fluorescence In-Situ Hybridization, Flow cytometry, Immunohistochemistry, Molecular testing, Pathology consultation. The company generates revenue from Clinical Services.