Equities analysts expect Myriad Genetics, Inc. (NASDAQ:MYGN) to report sales of $188.75 million for the current quarter, according to Zacks. Six analysts have issued estimates for Myriad Genetics’ earnings, with the highest sales estimate coming in at $189.93 million and the lowest estimate coming in at $188.00 million. Myriad Genetics posted sales of $196.50 million in the same quarter last year, which indicates a negative year over year growth rate of 3.9%. The company is scheduled to announce its next earnings report after the market closes on Tuesday, February 6th.
According to Zacks, analysts expect that Myriad Genetics will report full-year sales of $188.75 million for the current fiscal year, with estimates ranging from $758.90 million to $771.99 million. For the next fiscal year, analysts anticipate that the firm will report sales of $802.50 million per share, with estimates ranging from $769.32 million to $841.52 million. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Myriad Genetics.
Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.05. The business had revenue of $190.20 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 EPS.
Several equities analysts recently weighed in on the company. BidaskClub upgraded Myriad Genetics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 20th. 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. Stephens set a $45.00 price objective on Myriad Genetics and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. ValuEngine lowered Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Finally, 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. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Myriad Genetics has a consensus rating of “Hold” and a consensus target price of $30.67.
In other Myriad Genetics news, VP Richard M. Marsh sold 37,654 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $40.25, for a total transaction of $1,515,573.50. Following the transaction, the vice president now owns 157,648 shares of the company’s stock, valued at $6,345,332. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Richard M. Marsh sold 13,759 shares of the firm’s stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $36.25, for a total value of $498,763.75. Following the transaction, the vice president now directly owns 136,385 shares in the company, valued at approximately $4,943,956.25. The disclosure for this sale can be found here. Insiders have sold 71,064 shares of company stock worth $2,679,097 in the last ninety days. Corporate insiders own 6.70% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake 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 worth $162,992,000 after buying an additional 56,708 shares during the period. Dimensional Fund Advisors LP lifted its position in Myriad Genetics by 4.4% in the third quarter. Dimensional Fund Advisors LP now owns 3,580,081 shares of the company’s stock valued at $129,527,000 after purchasing an additional 149,865 shares during the period. Acadian Asset Management LLC lifted its position in Myriad Genetics by 18.4% in the fourth quarter. Acadian Asset Management LLC now owns 2,205,297 shares of the company’s stock valued at $75,743,000 after purchasing an additional 343,196 shares during the period. Northern Trust Corp lifted its position in shares of Myriad Genetics by 31.1% during the 2nd quarter. Northern Trust Corp now owns 1,292,588 shares of the company’s stock valued at $33,400,000 after acquiring an additional 306,276 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of Myriad Genetics by 7.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,151,915 shares of the company’s stock valued at $41,676,000 after acquiring an additional 78,798 shares during the period.
Shares of Myriad Genetics (MYGN) traded up $0.77 during trading on Thursday, hitting $37.65. The company had a trading volume of 562,098 shares, compared to its average volume of 653,626. The company has a current ratio of 2.34, a quick ratio of 2.06 and a debt-to-equity ratio of 0.09. Myriad Genetics has a 1 year low of $15.15 and a 1 year high of $41.57. The stock has a market cap of $2,610.00, a price-to-earnings ratio of 25.44, a PEG ratio of 2.45 and a beta of 0.24.
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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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