Why Is Cancer Genetics Test-Focused NeoGenomics Stock Trading Higher Today?
Portfolio Pulse from Vandana Singh
NeoGenomics Inc (NASDAQ:NEO) reported a Q4 2023 adjusted EPS of $0.03, surpassing consensus estimates and marking a turnaround from a previous loss. Sales rose 12.1% Y/Y to $155.55 million, also beating estimates. The company saw a 20% increase in Clinical Services revenue and a 17% decrease in Advanced Diagnostics revenue. Adjusted gross profit margin improved to 46.7%. Despite a net loss decrease to $14 million, adjusted EBITDA was positive at $9 million. For FY 2024, NeoGenomics forecasts an adjusted EPS of $0.04, against a consensus loss of $(0.08). William Blair maintains an Outperform rating, viewing legal issues as a temporary concern.
February 21, 2024 | 4:01 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
NeoGenomics reported a positive Q4 2023 performance with an adjusted EPS of $0.03, beating consensus estimates, and a 12.1% Y/Y increase in sales. The company also provided a favorable FY 2024 EPS guidance of $0.04, against a consensus loss of $(0.08). Despite facing legal challenges, analysts maintain a positive outlook on the stock.
NeoGenomics' Q4 earnings beat and positive FY 2024 guidance indicate strong financial health and growth potential, outweighing concerns over legal issues. The company's performance and optimistic outlook are likely to positively influence investor sentiment and stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100