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On Tuesday, Raymond (NSE:RYMD) James analyst Andrew Cooper maintained a Market Perform rating on Neogenomics (NASDAQ:NEO) shares, which currently trade at $14.42. According to InvestingPro data, analysts have set price targets ranging from $18 to $26, suggesting potential upside. In his assessment of the company’s fourth-quarter results, Cooper noted that the revenue was slightly below both consensus and Raymond James’ expectations, with a 70 basis point (bp) difference from consensus and nearly 200 bp from Raymond James’ forecast. Based on InvestingPro’s Fair Value analysis, the stock appears slightly overvalued at current levels.
The combination of Clinical Services and Advanced Diagnostics into a single segment has reduced visibility, according to Cooper. However, he estimated that Clinical Services performed in line with consensus, while Advanced Diagnostics fell short. Clinical Average Selling Prices (ASPs) were reported at $465, closely aligning with Raymond James’ estimate of $466, while clinical volumes were 40 bp below their model. Next-Generation Sequencing (NGS) grew by 34% for the year and in the low to mid-20s for the quarter, facing the toughest year-over-year comparison. InvestingPro data shows the company achieved 12.06% revenue growth in the last twelve months, with a healthy current ratio of 1.99.
Gross margins matched Raymond James’ expectations at 48% on an adjusted basis, and adjusted EBITDA margins of 6.9% exceeded both Raymond James and consensus estimates of 6.3%. This outperformance was attributed to lower sales and marketing and general and administrative expenses. Neogenomics reaffirmed its 2025 guidance of $735-745 million in top-line revenue and $55-58 million in adjusted EBITDA, now including additional details of $0.15-0.19 in adjusted earnings per share (EPS), compared to the $0.20 consensus. InvestingPro subscribers can access additional insights, including detailed financial health scores and 5 exclusive ProTips that provide deeper analysis of the company’s growth prospects and financial position.
Cooper’s initial reaction to the report was muted, stating that the modest revenue shortfall was balanced by stronger EBITDA. However, he did not find the overall results particularly inspiring, and noted that the stock was indicating a lower opening. Key topics of interest during the earnings call, scheduled for today at 8:30 a.m. EST, will include the traction of NGS, the transition of the CEO, and progress towards the commercial re-launch of RaDaR. Raymond James plans to provide more details following the earnings call. For comprehensive analysis of Neogenomics’ performance and future prospects, investors can access the detailed Pro Research Report, available exclusively on InvestingPro, which covers over 1,400 US stocks with deep-dive analysis and actionable insights.
In other recent news, Pacific Biosciences (NASDAQ:PACB) of California, Inc., commonly known as PacBio, announced the appointment of Chris Smith, CEO of NeoGenomics, Inc., to its Board of Directors, a move expected to support its strategic expansion into the clinical genomics market. This development coincides with the resignation of David Meline from PacBio’s board. Meanwhile, NeoGenomics has been in the spotlight with analyst firms adjusting their outlook based on the company’s updated financial guidance. Benchmark, for instance, retained a Hold rating on NeoGenomics, raising its 2025 revenue forecast for the company to $735 million, up from the previous estimate of $719 million.
On the other hand, Needham reaffirmed a Buy rating on NeoGenomics following the company’s updated guidance, which projects 2025 revenue in the range of $735-745 million, representing an 11-13% year-over-year growth. The company also expects its adjusted EBITDA for 2025 to be between $55-58 million, indicating a robust 43-51% year-over-year growth.
Simultaneously, NeoGenomics experienced a leadership change with the retirement of CEO Chris Smith and the appointment of Tony Zook as his successor, prompting Raymond James to maintain a Market Perform rating on the company. These are some of the recent developments for both PacBio and NeoGenomics.
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