$188.14 Million in Sales Expected for Myriad Genetics, Inc. (MYGN) This Quarter

Brokerages expect Myriad Genetics, Inc. (NASDAQ:MYGN) to report $188.14 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Myriad Genetics’ earnings, with estimates ranging from $187.04 million to $189.25 million. Myriad Genetics posted sales of $196.90 million during the same quarter last year, which would indicate a negative year over year growth rate of 4.4%. The company is scheduled to issue its next quarterly earnings report on Tuesday, May 1st.

On average, analysts expect that Myriad Genetics will report full-year sales of $188.14 million for the current fiscal year, with estimates ranging from $758.90 million to $773.13 million. For the next year, analysts expect that the firm will post sales of $806.15 million per share, with estimates ranging from $780.45 million to $841.52 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Myriad Genetics.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.31 EPS for the quarter, topping the Zacks’ 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 company had revenue of $194.00 million for the quarter, compared to the consensus estimate of $188.72 million. During the same quarter in the previous year, the business earned $0.26 EPS. The company’s quarterly revenue was down 1.3% compared to the same quarter last year.

MYGN has been the topic of a number of research reports. Zacks Investment Research downgraded Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 15th. ValuEngine downgraded Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Morgan Stanley boosted their price objective on Myriad Genetics from $24.00 to $26.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 8th. Deutsche Bank boosted their price objective on Myriad Genetics from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, November 8th. Finally, Barclays boosted their price objective on Myriad Genetics from $30.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Monday, January 22nd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $31.42.

In related news, Director Walter Phd Gilbert sold 7,500 shares of Myriad Genetics stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $33.19, for a total value of $248,925.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Alexander Ford sold 3,031 shares of Myriad Genetics stock in a transaction on Monday, November 13th. The stock was sold at an average price of $31.64, for a total value of $95,900.84. The disclosure for this sale can be found here. Insiders sold a total of 71,064 shares of company stock worth $2,679,097 over the last 90 days. Insiders own 6.70% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in shares of Myriad Genetics by 1.5% in the 4th quarter. BlackRock Inc. now owns 10,066,753 shares of the company’s stock worth $345,743,000 after acquiring an additional 150,003 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Myriad Genetics by 0.9% during the second quarter. Vanguard Group Inc. now owns 6,307,738 shares of the company’s stock valued at $162,992,000 after buying an additional 56,708 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Myriad Genetics by 4.4% during the third quarter. Dimensional Fund Advisors LP now owns 3,580,081 shares of the company’s stock valued at $129,527,000 after buying an additional 149,865 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Myriad Genetics by 18.4% during the fourth quarter. Acadian Asset Management LLC now owns 2,205,297 shares of the company’s stock valued at $75,743,000 after buying an additional 343,196 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Myriad Genetics by 31.1% during the second quarter. Northern Trust Corp now owns 1,292,588 shares of the company’s stock valued at $33,400,000 after buying an additional 306,276 shares in the last quarter.

Shares of Myriad Genetics (MYGN) opened at $32.96 on Friday. Myriad Genetics has a 12 month low of $15.71 and a 12 month high of $41.57. The company has a quick ratio of 2.06, a current ratio of 2.05 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2,278.52, a price-to-earnings ratio of 17.82, a PEG ratio of 2.41 and a beta of 0.32.

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Myriad Genetics Company Profile

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

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