Press Scan - Chromavision
On May 2, 2019, NeoGenomic's share price rose by 551% over five years, representing an epic gain for some of the company's long term investors.
Chromavision - Overview
- Initial research revealed that Chromavision changed the corporate name from ChromaVision Medical Systems, Inc., a medical device provider to Clarient, Inc., a technology and services company.
- Furthermore, the company was acquired in 2015 by NeoGenomics, a subsidiary of GE Healthcare, for a total deal worth $580 million.
- As a result of the company's metamorphosis into NeoGenomics, we have provided a press scan for NeoGenomics.
Press Scan - NeoGenomics
1. NeoGenomics Shareholders Have Enjoyed A Whopping 551% Share Price Gain
- On May 2, 2019, NeoGenomic's share price rose by 551% over five years. This represents an epic gain for some of the company's long term investors.
- This represents a 25% rise in per-share price over the last quarter. Meanwhile, the company saw an annual 30% revenue for the past five years.
2. NeoGenomics reports record revenue growth for the second quarter
- In the second quarter of 2019, the company reported a record 50% revenue increment over the year. The growth was attributed to a strong performance of both of the company's clinical and pharmaceutical segments.
- The company earned about $2 million compared to a $400,000 loss a year ago. Adjusted earnings rose to $7.2 million, up from $4.5 million in the previous year.
3. NeoGenomics Reports 40% Revenue Growth to $107 Million in the Fourth Quarter
- On February 27, 2020, the company announced that in the last quarter of 2019, it saw a revenue increase to $106.9 million. This comes from a 41.7% increase in the company's clinical service revenue and a 27.5% increase in the company's pharmaceutical service revenue.
- In 2019, the company's revenue was $408.8 million, a 48% increase over 2018.
4. Why NeoGenomics Fell as Much as 20.2% Today
- On February 27, 2020, NeoGenomic's revenue fell by 20% after the company reported a positive performance for the fourth quarter of 2019.
- The fall in the company's stock is thought to be related to the economic impact of the COVID-19 outbreak and had little to do with the company's earnings report.
5. The Case for and Against NeoGenomics, Inc.
- On March 12, 2020, NeoGenomics recorded an 11.66% loss per share price from $28.05 to $24.78. "NEO showed a fall of -15.28% within its YTD performance, with highs and lows between $18.52 – $34.97 during 52 weeks, compared to the simple moving average of -2.14% in the period of the last 200 days."
- Although, the company's sales growth from quarter to quarter is placed at 39.70%, depicting upcoming progress.
6. Seagate Development's NeoGenomics' deal the result of being in the right place
- In January 2020, NeoGenomics announced that the Seagate Development Group would supervise its new $60 million headquarters in Fort Myers, along Three Oaks Parkway.
- The new twin-structured complex will cover 150,000 square feet and be evenly shared between "global corporate offices and high-tech lab space for oncology testing."
- This places the company as the third major home-grown expansion in the Southwest Florida area following Arthrex Inc. and Gartner Inc. The company has been tenants in Seagate-related projects for over 15 years.
7. PPD boosts clinical trials testing with NeoGenomics lab opening in Singapore
- To support Asia-Pacific oncology trials, “NeoGenomics opened a new Singapore-based pharma services laboratory situated in the same building as PPD Laboratories’ central lab.”
- The expansion emanates from an alliance made in 2018 by NeoGenomics to support the provision of a global solution for drug development in the Asia-Pacific region. In support of the deal, NeoGenomics has provided a range of laboratory testing equipment to support PPD’s oncology clinical trial activities.
8. NeoGenomics Acquires Oncology Division from Human Longevity
- On January 10, 2020, NeoGenomics announced that it had completed the purchase of the Oncology Division assets of Human Longevity, Inc. in a $37 million deal. In 2019, the division generated about $10 million in revenues.
- According to the company, the acquisition will strengthen its position as a leading provider of Pharma Services and next-generation sequencing and also expand the pharma services menu of the company to feature whole-genome sequencing, whole-exome, and germline.
9. NeoGenomics Announces Leadership Appointments
- On February 5, 2020, NeoGenomics announced the appointment of Kathryn McKenzie as the company’s new chief financial officer. Ms. McKenzie joined the company in 2017 and has, in recent times, served as the vice president of finance and chief accounting officer.
Before joining NeoGenomics, she served in various roles at “Chico’s FAS, including Assistant Controller and Director of Financial Reporting and Treasury, and at Ernst and Young. Ms. McKenzie is a certified public accountant and holds a Master’s of Science in Accountancy from the University of North Carolina, Wilmington.”