NeoGenomics (NEO) reported quarterly earnings results on Tuesday, Jul-26-2016. The company said it had a profit of $0.04 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.03. The company posted revenue of $63.13 million in the period, compared to analysts expectations of $60.94 million. The company’s revenue was up 159.0% compared to the same quarter last year.
Many Wall Street Analysts have commented on NeoGenomics. Company shares were Reiterated by The Benchmark Company on Apr 28, 2016 to “Buy”, Firm has raised the Price Target to $ 9 from a previous price target of $8 .
NeoGenomics opened for trading at $9.25 and hit $9.41 on the upside on Wednesday, eventually ending the session at $9.36, with a gain of 1.74% or 0.16 points. The heightened volatility saw the trading volume jump to 2,81,882 shares. Company has a market cap of $722 M.
In a different news, on May 27, 2016, Oort Douglas M Van (Chairman and CEO) sold 481,387 shares at $8.72 per share price. According to the SEC, on May 20, 2016, Steven A Ross (CIO) sold 18,000 shares at $8.50 per share price. On May 3, 2016, Steven C Jones (Executive VP of Finance) sold 177,745 shares at $8.21 per share price, according to the Form-4 filing with the securities and exchange commission.
NeoGenomics Inc. is an operator of a network of cancer-focused genetic testing laboratories. The Company offers testing services which includes Cytogenetics testing which is the study of normal and abnormal chromosomes and their relationship to disease; fluorescence in-situ hybridization (FISH) testing which is a branch of cancer genetics that focuses on detecting and locating the presence or absence of specific deoxyribonucleic acid (DNA) sequences and genes on chromosomes; flow cytometry testing which is a way to measure the characteristics of cell populations; immunohistochemistry (IHC) testing which is a process of identifying cell proteins in a tissue section utilizing the principle of antibodies binding specifically to in biological tissues. and molecular testing which is a cancer diagnostic tool focusing on the analysis of DNA and ribonucleic acid (RNA) as well as the structure and function of genes at a molecular level.