Myriad Genetics, Inc. (NASDAQ:MYGN) – Investment analysts at William Blair raised their FY2018 earnings estimates for Myriad Genetics in a research note issued to investors on Thursday. William Blair analyst A. Murphy now expects that the company will post earnings per share of $1.15 for the year, up from their prior estimate of $1.11. William Blair also issued estimates for Myriad Genetics’ Q1 2019 earnings at $0.32 EPS, Q2 2019 earnings at $0.33 EPS, Q3 2019 earnings at $0.31 EPS, FY2019 earnings at $1.35 EPS and FY2020 earnings at $1.65 EPS.
Several other research analysts have also recently weighed in on the stock. ValuEngine cut shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Morgan Stanley upped their price objective on shares of Myriad Genetics from $24.00 to $26.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 8th. Deutsche Bank upped their price objective on shares of Myriad Genetics from $28.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, November 8th. Zacks Investment Research cut shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 15th. Finally, Stephens set a $45.00 price objective on shares of Myriad Genetics and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $31.42.
Shares of Myriad Genetics (NASDAQ:MYGN) opened at $32.81 on Monday. Myriad Genetics has a 52-week low of $17.09 and a 52-week high of $41.57. The firm has a market capitalization of $2,290.00, a PE ratio of 17.83, a PEG ratio of 2.32 and a beta of 0.32. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 0.05.
Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.07. Myriad Genetics had a return on equity of 14.43% and a net margin of 16.55%. The firm had revenue of $194.00 million for the quarter, compared to analysts’ expectations of $188.72 million. During the same period in the prior year, the business posted $0.26 earnings per share. The company’s revenue was down 1.3% on a year-over-year basis.
In other Myriad Genetics news, Director Heinrich Dreismann sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $33.50, for a total value of $201,000.00. Following the completion of the sale, the director now owns 33,743 shares of the company’s stock, valued at $1,130,390.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Walter Phd Gilbert sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The stock was 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. In the last ninety days, insiders sold 68,033 shares of company stock valued at $2,583,197. 6.70% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. boosted its stake in Myriad Genetics by 1,067.4% in the third quarter. Meeder Asset Management Inc. now owns 3,292 shares of the company’s stock worth $119,000 after buying an additional 3,010 shares in the last quarter. LS Investment Advisors LLC boosted its stake in shares of Myriad Genetics by 88.5% during the fourth 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 period. Tiedemann Wealth Management LLC boosted its stake in shares of Myriad Genetics by 67.0% during the third 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 period. Commonwealth Equity Services Inc purchased a new stake in shares of Myriad Genetics during the third quarter valued at approximately $202,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Myriad Genetics during the third quarter valued at approximately $204,000.
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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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