Myriad Genetics (NASDAQ:MYGN) Updates Q1 Earnings Guidance

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Myriad Genetics (NASDAQ:MYGN) updated its first quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.30-0.32 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.43. The company issued revenue guidance of $200-202 million, compared to the consensus revenue estimate of $217.38 million.Myriad Genetics also updated its FY 2020 guidance to $1.80-1.90 EPS.

MYGN has been the subject of a number of research analyst reports. Piper Jaffray Companies lowered Myriad Genetics from an overweight rating to a neutral rating and reduced their target price for the stock from $45.00 to $40.00 in a research note on Wednesday. Cowen lowered Myriad Genetics from an outperform rating to a market perform rating and set a $26.64 price objective for the company. in a research note on Tuesday, July 9th. Barclays lowered Myriad Genetics from an equal weight rating to an underweight rating in a research note on Wednesday. ValuEngine upgraded Myriad Genetics from a sell rating to a hold rating in a research note on Thursday, August 1st. Finally, BidaskClub lowered Myriad Genetics from a buy rating to a hold rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $37.64.

Shares of Myriad Genetics stock opened at $23.20 on Friday. The company has a quick ratio of 2.86, a current ratio of 3.15 and a debt-to-equity ratio of 0.24. Myriad Genetics has a twelve month low of $22.07 and a twelve month high of $50.44. The firm has a market cap of $3.27 billion, a PE ratio of 17.98, a P/E/G ratio of 2.10 and a beta of 0.81. The business has a 50-day moving average price of $32.08 and a 200 day moving average price of $30.07.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. Myriad Genetics had a return on equity of 9.10% and a net margin of 0.54%. The company had revenue of $215.40 million for the quarter, compared to analysts’ expectations of $221.64 million. During the same period in the previous year, the firm posted $0.38 EPS. Myriad Genetics’s revenue was up 11.1% compared to the same quarter last year. On average, sell-side analysts expect that Myriad Genetics will post 1.67 EPS for the current year.

In related news, CFO Richard Bryan Riggsbee sold 25,000 shares of Myriad Genetics stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $41.50, for a total value of $1,037,500.00. Following the sale, the chief financial officer now directly owns 120,566 shares in the company, valued at approximately $5,003,489. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Gary A. King sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $43.49, for a total value of $2,609,400.00. Following the transaction, the vice president now owns 164,871 shares in the company, valued at $7,170,239.79. The disclosure for this sale can be found here. Over the last quarter, insiders sold 96,712 shares of company stock worth $4,115,380. 5.80% of the stock is currently owned by insiders.

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; BRACAnalysis CDx, a DNA sequencing test for use as a companion diagnostic with the platinum based chemotherapy agents and poly ADP ribose inhibitor Lynparza; riskScore, a clinically validated personalized medicine tool; GeneSight, a DNA genotyping test to optimize psychotropic drug selection for neuroscience patients; 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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