Brokerages forecast that Myriad Genetics, Inc. (NASDAQ:MYGN) will post sales of $188.75 million for the current quarter, Zacks reports. Six analysts have provided estimates for Myriad Genetics’ earnings. The highest sales estimate is $189.93 million and the lowest is $188.00 million. Myriad Genetics posted sales of $196.50 million in the same quarter last year, which suggests a negative year-over-year growth rate of 3.9%. The firm is scheduled to issue its next earnings report on Tuesday, February 6th.
On average, analysts expect that Myriad Genetics will report full-year sales of $188.75 million for the current financial year, with estimates ranging from $758.90 million to $782.01 million. For the next fiscal year, analysts anticipate that the company will post sales of $806.00 million per share, with estimates ranging from $769.32 million to $842.00 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Myriad Genetics.
Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.05. Myriad Genetics had a return on equity of 9.54% and a net margin of 13.28%. The business had revenue of $190.20 million for the quarter, compared to analyst estimates of $183.52 million. During the same period last year, the company earned $0.23 EPS. Myriad Genetics’s revenue for the quarter was up 7.2% compared to the same quarter last year.
A number of research analysts have recently commented on the company. BidaskClub upgraded Myriad Genetics from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. ValuEngine upgraded Myriad Genetics from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. Barclays PLC lowered their price objective on Myriad Genetics from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 9th. Zacks Investment Research cut Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $23.00 price objective (up previously from $21.00) on shares of Myriad Genetics in a research note on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $28.10.
In related news, insider Alexander Ford sold 3,031 shares of the stock in a transaction that occurred on 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 legal filing with the SEC, which is available at the SEC website. Also, Director John T. Henderson sold 30,000 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $30.30, for a total value of $909,000.00. Following the completion of the transaction, the director now directly owns 52,524 shares in the company, valued at approximately $1,591,477.20. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of the business. GHP Investment Advisors Inc. lifted its holdings in shares of Myriad Genetics by 11.1% during the 3rd quarter. GHP Investment Advisors Inc. now owns 48,710 shares of the company’s stock valued at $1,762,000 after purchasing an additional 4,853 shares during the last quarter. Vanguard Group Inc. grew its position in Myriad Genetics by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 6,307,738 shares of the company’s stock worth $162,992,000 after purchasing an additional 56,708 shares during the period. Airain ltd acquired a new stake in Myriad Genetics during the 2nd quarter worth about $1,097,000. PDT Partners LLC acquired a new stake in Myriad Genetics during the 2nd quarter worth about $8,481,000. Finally, Blair William & Co. IL acquired a new stake in Myriad Genetics during the 2nd quarter worth about $1,048,000.
Myriad Genetics (MYGN) traded down $0.53 during midday trading on Friday, reaching $32.88. The company’s stock had a trading volume of 956,880 shares, compared to its average volume of 1,221,158. Myriad Genetics has a 1-year low of $15.15 and a 1-year high of $37.30. The company has a current ratio of 2.34, a quick ratio of 2.06 and a debt-to-equity ratio of 0.09. The stock has a market cap of $2,280.00, a PE ratio of 28.67, a P/E/G ratio of 1.98 and a beta of 0.24.
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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