Oncology (cancer) diagnostics company NeoGenomics (NASDAQ: NEO) will be announcing earnings results this Tuesday afternoon. Here’s what you need to know.
NeoGenomics beat analysts’ revenue expectations last quarter, reporting revenues of $186.7 million, up 11.1% year on year. It was a strong quarter for the company, with EPS in line with analysts’ estimates and full-year revenue guidance meeting analysts’ expectations.
Is NeoGenomics a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting NeoGenomics’s revenue to grow 8.8% year on year, slowing from the 10.2% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. NeoGenomics has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at NeoGenomics’s peers in the healthcare providers & services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Quest delivered year-on-year revenue growth of 10.2%, beating analysts’ expectations by 2.3%, and Tenet Healthcare reported revenues up 6.8%, topping estimates by 3.9%. Quest traded up 7% following the results while Tenet Healthcare was also up 17.2%.
Read our full analysis of Quest’s results here and Tenet Healthcare’s results here.
Investors in the healthcare providers & services segment have had steady hands going into earnings, with share prices up 1.3% on average over the last month. NeoGenomics is down 2.5% during the same time and is heading into earnings with an average analyst price target of $16.78 (compared to the current share price of $13.89).
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