NeoGenomics (NEO) Releases Earnings Results, Beats Expectations By $0.02 EPS

NeoGenomics (NEO) reported quarterly earnings results on Wednesday, Apr-27-2016. The company said it had a profit of $0.03 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.01. The company posted revenue of $59.70 million in the period, compared to analysts expectations of $57.00 million. The company’s revenue was up 159.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.01 EPS.

Many Wall Street Analysts have commented on NeoGenomics. The Benchmark Company Initiated NeoGenomics on Mar 11, 2016 to “Buy”, Price Target of the shares are set at $8.

NeoGenomics opened for trading at $7.03 and hit $7.2 on the upside on Friday, eventually ending the session at $7.16, with a gain of 1.99% or 0.14 points. The heightened volatility saw the trading volume jump to 2,01,820 shares. Company has a market cap of $543 M.

In a different news, on Mar 14, 2016, George Cardoza (Chief Financial Officer) sold 32,000 shares at $6.83 per share price. According to the SEC, on Mar 10, 2016, Oort Douglas M Van (Chairman and CEO) sold 450,000 shares at $7.06 per share price. On Mar 7, 2016, Kevin C Johnson (director) purchased 22,007 shares at $6.80 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.


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