Myriad Genetics, Inc. (NASDAQ:MYGN) – Equities researchers at William Blair upped their Q2 2018 earnings per share estimates for shares of Myriad Genetics in a research note issued on Monday. William Blair analyst A. Murphy now expects that the company will earn $0.22 per share for the quarter, up from their prior forecast of $0.21. William Blair also issued estimates for Myriad Genetics’ Q3 2018 earnings at $0.26 EPS, Q4 2018 earnings at $0.31 EPS, FY2018 earnings at $1.05 EPS, Q1 2019 earnings at $0.26 EPS, Q2 2019 earnings at $0.24 EPS, Q3 2019 earnings at $0.30 EPS, Q4 2019 earnings at $0.34 EPS and FY2019 earnings at $1.14 EPS.
Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.05. The firm had revenue of $190.20 million during the quarter, compared to analyst estimates of $183.52 million. Myriad Genetics had a return on equity of 9.54% and a net margin of 13.28%. The company’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the company earned $0.23 earnings per share. ILLEGAL ACTIVITY NOTICE: “William Blair Comments on Myriad Genetics, Inc.’s Q2 2018 Earnings (MYGN)” was first reported by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this piece of content on another publication, it was illegally copied and reposted in violation of US & international copyright and trademark laws. The legal version of this piece of content can be viewed at https://sportsperspectives.com/2017/11/14/william-blair-comments-on-myriad-genetics-inc-s-q2-2018-earnings-mygn.html.
Other equities analysts have also issued reports about the company. BidaskClub upgraded Myriad Genetics from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. Zacks Investment Research upgraded Myriad Genetics from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research report on Monday, July 17th. ValuEngine upgraded Myriad Genetics from a “hold” rating to a “buy” rating in a research report on Friday. Barclays PLC decreased their target price on Myriad Genetics from $28.00 to $26.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 9th. Finally, Cowen and Company restated a “hold” rating and set a $25.00 target price on shares of Myriad Genetics in a research report on Sunday, September 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Myriad Genetics has an average rating of “Hold” and an average target price of $28.10.
Shares of Myriad Genetics (NASDAQ MYGN) traded up $0.92 during mid-day trading on Tuesday, reaching $32.47. The company had a trading volume of 1,073,900 shares, compared to its average volume of 1,221,741. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.06 and a current ratio of 2.34. The firm has a market capitalization of $2,184.55, a price-to-earnings ratio of 28.94, a price-to-earnings-growth ratio of 2.02 and a beta of 0.24. Myriad Genetics has a 1 year low of $15.15 and a 1 year high of $37.30.
In other news, Director John T. Henderson sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $30.30, for a total transaction of $909,000.00. Following the sale, the director now owns 52,524 shares in the company, valued at approximately $1,591,477.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 6.70% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in shares of Myriad Genetics during the 2nd quarter worth approximately $101,000. Riverhead Capital Management LLC raised its stake in shares of Myriad Genetics by 80.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,161 shares of the company’s stock worth $107,000 after purchasing an additional 1,861 shares in the last quarter. Fiduciary Trust Co. bought a new stake in shares of Myriad Genetics during the 2nd quarter worth approximately $113,000. Meeder Asset Management Inc. raised its stake in shares of Myriad Genetics by 1,067.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 3,292 shares of the company’s stock worth $119,000 after purchasing an additional 3,010 shares in the last quarter. Finally, Tiedemann Wealth Management LLC raised its stake in shares of Myriad Genetics by 67.0% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 13,650 shares of the company’s stock worth $185,000 after purchasing an additional 5,475 shares in the last quarter.
About Myriad Genetics
Myriad Genetics, Inc is a molecular diagnostic company. The Company is engaged in the discovery, development and marketing of transformative molecular diagnostic tests. The Company operates through two segments: diagnostics and other. The diagnostics segment provides testing and collaborative development of testing that is designed to assess an individual’s risk for developing disease later in life, identify a patient’s likelihood of responding to drug therapy and guide a patient’s dosing to enable optimal treatment, or assess a patient’s risk of disease progression and disease recurrence.
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