Myriad Genetics, Inc. (MYGN) Forecasted to Post Q1 2019 Earnings of $0.32 Per Share

Myriad Genetics, Inc. (NASDAQ:MYGN) – Equities researchers at Jefferies Group lifted their Q1 2019 EPS estimates for Myriad Genetics in a research report issued on Wednesday. Jefferies Group analyst B. Couillard now expects that the company will post earnings of $0.32 per share for the quarter, up from their prior forecast of $0.27. Jefferies Group also issued estimates for Myriad Genetics’ Q2 2019 earnings at $0.34 EPS, Q3 2019 earnings at $0.34 EPS, Q4 2019 earnings at $0.35 EPS and FY2019 earnings at $1.35 EPS.

Myriad Genetics (NASDAQ:MYGN) last announced its earnings results on Tuesday, February 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.07. Myriad Genetics had a return on equity of 9.94% and a net margin of 16.67%. The company had revenue of $194.00 million for the quarter, compared to analyst estimates of $188.72 million. During the same period in the prior year, the company posted $0.26 EPS. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year.

Several other analysts also recently weighed in on the company. Zacks Investment Research upgraded Myriad Genetics from a “hold” rating to a “strong-buy” rating and set a $42.00 price target on the stock in a research note on Tuesday, October 17th. Morgan Stanley boosted their price target on Myriad Genetics from $26.00 to $28.00 and gave the company an “underweight” rating in a research note on Wednesday. Leerink Swann boosted their price target on Myriad Genetics from $33.00 to $35.00 and gave the company a “market perform” rating in a research note on Wednesday. BTIG Research set a $41.00 price target on Myriad Genetics and gave the company a “buy” rating in a research note on Tuesday, January 16th. Finally, ValuEngine downgraded Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Myriad Genetics has an average rating of “Hold” and a consensus price target of $31.42.

Shares of Myriad Genetics (NASDAQ:MYGN) traded down $0.67 during trading hours on Thursday, reaching $33.16. The company had a trading volume of 654,070 shares, compared to its average volume of 773,841. Myriad Genetics has a 12 month low of $15.71 and a 12 month high of $41.57. The firm has a market cap of $2,479.51, a price-to-earnings ratio of 18.30, a P/E/G ratio of 2.26 and a beta of 0.32. The company has a quick ratio of 2.06, a current ratio of 2.34 and a debt-to-equity ratio of 0.09.

In other news, insider Alexander Ford sold 3,031 shares of the company’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $31.64, for a total value of $95,900.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Richard M. Marsh sold 37,654 shares of the company’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $40.25, for a total value of $1,515,573.50. Following the completion of the sale, the vice president now owns 157,648 shares in the company, valued at approximately $6,345,332. The disclosure for this sale can be found here. Insiders sold 71,064 shares of company stock worth $2,679,097 in the last 90 days. Company insiders own 6.70% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Myriad Genetics by 0.9% in the second quarter. Vanguard Group Inc. now owns 6,307,738 shares of the company’s stock worth $162,992,000 after buying an additional 56,708 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Myriad Genetics by 4.4% in the third quarter. Dimensional Fund Advisors LP now owns 3,580,081 shares of the company’s stock worth $129,527,000 after buying an additional 149,865 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Myriad Genetics by 18.4% in the fourth quarter. Acadian Asset Management LLC now owns 2,205,297 shares of the company’s stock worth $75,743,000 after buying an additional 343,196 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Myriad Genetics by 31.1% in the second quarter. Northern Trust Corp now owns 1,292,588 shares of the company’s stock worth $33,400,000 after buying an additional 306,276 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Myriad Genetics by 7.3% in the third quarter. Russell Investments Group Ltd. now owns 1,151,915 shares of the company’s stock worth $41,676,000 after buying an additional 78,798 shares during the last quarter.

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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.

Earnings History and Estimates for Myriad Genetics (NASDAQ:MYGN)

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