Neogenomics Inc (NEO) released its first quarter results on Thursday, May 6, 2021. The company reported net earnings of -$0.19 per share for the first quarter ending March 31, 2021. Earnings for this past quarter declined 185 percent compared to the same period a year ago.
The company was founded in 2001 and is headquartered in Fort Myers, Florida. NeoGenomics, Inc. operates a network of cancer-focused testing laboratories in the United States, Europe, and Asia. It operates in two segments, Clinical Services and Pharma Services.
Neogenomics' revenue increased 8 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins decreased to 43.89% for the first quarter compared to the same period in the previous year, and operating margins decreased to 13.08% over the same period. Net earnings for past trailing twelve months were -$10.96 million, down 418% from the prior year.
Moving on to the balance sheet, Neogenomics' cash levels jumped 610% for the first quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 336.93% this past year. The current ratio for Neogenomics now stands at 13.91. The company increased shares outstanding by 6.96%.
Shares of NEO are currently trading around $41.09. In terms of valuation, the stock is trading at a price to book ratio of 5.66.
_____
This article was written by Value Investing News (https://www.valueinvestingnews.com) on Saturday, May 8, 2021.