Myriad Genetics, Inc. (NASDAQ:MYGN) – Equities research analysts at Gabelli raised their FY2018 earnings per share (EPS) estimates for shares of Myriad Genetics in a research note issued on Thursday. Gabelli analyst S. Wojda now expects that the company will post earnings of $1.15 per share for the year, up from their prior estimate of $1.05. Gabelli also issued estimates for Myriad Genetics’ FY2019 earnings at $1.30 EPS, FY2020 earnings at $1.55 EPS, FY2021 earnings at $1.80 EPS and FY2022 earnings at $2.10 EPS.
A number of other research firms have also weighed in on MYGN. BTIG Research initiated coverage on Myriad Genetics in a research report on Friday, January 5th. They set a “buy” rating and a $41.00 price objective for the company. ValuEngine raised Myriad Genetics from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Barclays reaffirmed a “hold” rating and set a $30.00 price objective on shares of Myriad Genetics in a research report on Monday, January 8th. Deutsche Bank raised their price objective on Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, November 8th. Finally, Zacks Investment Research lowered Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 15th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Myriad Genetics currently has a consensus rating of “Hold” and a consensus target price of $31.42.
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, topping the consensus estimate of $0.24 by $0.07. Myriad Genetics had a return on equity of 9.59% and a net margin of 16.67%. The firm had revenue of $194.00 million during the quarter, compared to analyst estimates of $188.72 million. During the same quarter in the prior year, the company earned $0.26 EPS. The business’s revenue was down 1.3% compared to the same quarter last year.
A number of institutional investors and hedge funds have recently modified their holdings of MYGN. Meeder Asset Management Inc. boosted its stake in Myriad Genetics by 1,067.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 3,292 shares of the company’s stock valued at $119,000 after purchasing an additional 3,010 shares during the last quarter. LS Investment Advisors LLC boosted its stake in Myriad Genetics by 88.5% during the 4th quarter. LS Investment Advisors LLC now owns 4,791 shares of the company’s stock valued at $165,000 after purchasing an additional 2,250 shares during the last quarter. Tiedemann Wealth Management LLC boosted its stake in Myriad Genetics by 67.0% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 13,650 shares of the company’s stock valued at $185,000 after purchasing an additional 5,475 shares during the last quarter. Commonwealth Equity Services Inc purchased a new stake in Myriad Genetics during the 3rd quarter valued at $202,000. Finally, Teacher Retirement System of Texas purchased a new stake in Myriad Genetics during the 3rd quarter valued at $204,000.
In other Myriad Genetics news, insider Alexander Ford sold 3,031 shares of the stock in a transaction on Monday, November 13th. The stock was sold at an average price of $31.64, for a total transaction of $95,900.84. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Walter Phd Gilbert sold 7,500 shares of the stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $33.19, for a total value of $248,925.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,064 shares of company stock worth $2,679,097. Company insiders own 6.70% of the company’s stock.
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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.
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