Analysts Expect Myriad Genetics (MYGN) Will Announce Quarterly Sales of $187.98 Million

Analysts expect that Myriad Genetics (NASDAQ:MYGN) will post $187.98 million in sales for the current quarter, according to Zacks. Five analysts have provided estimates for Myriad Genetics’ earnings, with the lowest sales estimate coming in at $187.04 million and the highest estimate coming in at $189.25 million. Myriad Genetics reported sales of $196.90 million in the same quarter last year, which would suggest a negative year over year growth rate of 4.5%. The company is scheduled to issue its next quarterly earnings results on Tuesday, May 1st.

According to Zacks, analysts expect that Myriad Genetics will report full year sales of $187.98 million for the current financial year, with estimates ranging from $765.67 million to $798.40 million. For the next year, analysts forecast that the business will post sales of $802.99 million per share, with estimates ranging from $780.45 million to $827.57 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Myriad Genetics.

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Myriad Genetics (NASDAQ:MYGN) last issued its earnings results on Tuesday, February 6th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.07. The business had revenue of $194.00 million for the quarter, compared to analysts’ expectations of $188.72 million. Myriad Genetics had a return on equity of 9.59% and a net margin of 16.67%. The company’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.26 EPS.

A number of brokerages recently issued reports on MYGN. Zacks Investment Research upgraded Myriad Genetics from a “hold” rating to a “strong-buy” rating and set a $34.00 target price on the stock in a report on Friday. ValuEngine upgraded Myriad Genetics from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. BTIG Research set a $44.00 price target on Myriad Genetics and gave the company a “buy” rating in a report on Wednesday, February 7th. Leerink Swann lifted their price target on Myriad Genetics from $33.00 to $35.00 and gave the company a “market perform” rating in a report on Wednesday, February 7th. Finally, BidaskClub downgraded Myriad Genetics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $30.75.

In other Myriad Genetics news, VP Richard M. Marsh sold 37,654 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $40.25, for a total value of $1,515,573.50. Following the transaction, the vice president now owns 157,648 shares in the company, valued at $6,345,332. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Richard M. Marsh sold 13,759 shares of the business’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $36.25, for a total value of $498,763.75. Following the completion of the transaction, the vice president now owns 136,385 shares in the company, valued at approximately $4,943,956.25. The disclosure for this sale can be found here. Insiders sold 54,533 shares of company stock worth $2,133,272 in the last 90 days. Corporate insiders own 6.70% of the company’s stock.

Large investors have recently made changes to their positions in the business. State of Wisconsin Investment Board lifted its position in shares of Myriad Genetics by 38.7% in the fourth quarter. State of Wisconsin Investment Board now owns 63,800 shares of the company’s stock worth $2,191,000 after buying an additional 17,800 shares during the last quarter. Chartwell Investment Partners LLC lifted its position in shares of Myriad Genetics by 31.4% in the fourth quarter. Chartwell Investment Partners LLC now owns 120,546 shares of the company’s stock worth $4,140,000 after buying an additional 28,831 shares during the last quarter. Swiss National Bank lifted its position in shares of Myriad Genetics by 3.4% in the fourth quarter. Swiss National Bank now owns 118,500 shares of the company’s stock worth $4,070,000 after buying an additional 3,900 shares during the last quarter. CS Mckee LP lifted its position in shares of Myriad Genetics by 42.2% in the third quarter. CS Mckee LP now owns 42,650 shares of the company’s stock worth $1,543,000 after buying an additional 12,650 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Myriad Genetics by 43.8% in the third quarter. JPMorgan Chase & Co. now owns 297,072 shares of the company’s stock worth $10,754,000 after buying an additional 90,543 shares during the last quarter.

Shares of NASDAQ MYGN traded down $0.60 during mid-day trading on Tuesday, reaching $27.75. The company had a trading volume of 1,199,673 shares, compared to its average volume of 739,575. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $1,955.81, a price-to-earnings ratio of 26.43, a PEG ratio of 2.43 and a beta of 0.52. Myriad Genetics has a 1-year low of $17.50 and a 1-year high of $41.57.

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Myriad Genetics Company Profile

Myriad Genetics, Inc, a molecular diagnostic company, focuses on developing and marketing novel predictive medicine, personalized medicine, and prognostic medicine tests worldwide. The company offers molecular diagnostic tests, including myRisk Hereditary Cancer, a DNA sequencing test for hereditary cancers; BRACAnalysis, a DNA sequencing test to assess the risk of developing breast and ovarian cancer; BART, a DNA sequencing test for hereditary breast and ovarian cancer; BRACAnalysis CDx, a DNA sequencing test for use as a companion diagnostic with the platinum based chemotherapy agents and poly ADP ribose inhibitor Lynparza; and Tumor BRACAnalysis CDx, a DNA sequencing test that is designed to be utilized to predict response to DNA damaging agents.

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

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