$193.54 Million in Sales Expected for Myriad Genetics, Inc. (MYGN) This Quarter
Equities research analysts expect that Myriad Genetics, Inc. (NASDAQ:MYGN) will post sales of $193.54 million for the current quarter, according to Zacks. Five analysts have provided estimates for Myriad Genetics’ earnings. The highest sales estimate is $194.28 million and the lowest is $193 million. Myriad Genetics posted sales of $186.5 million during the same quarter last year, which suggests a positive year over year growth rate of 3.8%. The company is scheduled to report its next quarterly earnings results on Tuesday, August 8th.
According to Zacks, analysts expect that Myriad Genetics will report full-year sales of $193.54 million for the current year, with estimates ranging from $756.2 million to $768.13 million. For the next year, analysts anticipate that the firm will report sales of $790.82 million per share, with estimates ranging from $770.91 million to $848 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Myriad Genetics.
Myriad Genetics (NASDAQ:MYGN) last announced its earnings results on Tuesday, May 2nd. The company reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.03. Myriad Genetics had a return on equity of 12.02% and a net margin of 8.08%. The business had revenue of $196.90 million for the quarter, compared to analyst estimates of $188.89 million.
MYGN has been the subject of several analyst reports. Ladenburg Thalmann Financial Services raised Myriad Genetics from a “sell” rating to a “neutral” rating in a research note on Wednesday, February 8th. Cowen and Company reissued a “market perform” rating and issued a $19.00 price objective on shares of Myriad Genetics in a research note on Tuesday, March 28th. Jefferies Group LLC reissued a “hold” rating and issued a $21.00 price objective (up from $18.00) on shares of Myriad Genetics in a research note on Wednesday, May 3rd. Zacks Investment Research raised Myriad Genetics from a “sell” rating to a “hold” rating in a research note on Wednesday, February 1st. Finally, Piper Jaffray Companies reissued a “neutral” rating and issued a $21.00 price objective on shares of Myriad Genetics in a research note on Tuesday, February 7th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $23.00.
In other Myriad Genetics news, Director John T. Henderson purchased 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 23rd. The stock was bought at an average cost of $18.66 per share, with a total value of $111,960.00. Following the completion of the transaction, the director now owns 38,524 shares of the company’s stock, valued at approximately $718,857.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.20% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Scopia Capital Management LP acquired a new stake in shares of Myriad Genetics during the third quarter worth approximately $75,316,000. Norges Bank acquired a new stake in shares of Myriad Genetics during the fourth quarter worth approximately $14,319,000. BlackRock Advisors LLC increased its stake in shares of Myriad Genetics by 0.6% in the third quarter. BlackRock Advisors LLC now owns 137,450 shares of the company’s stock worth $2,829,000 after buying an additional 803 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Myriad Genetics by 14.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,654,854 shares of the company’s stock worth $27,587,000 after buying an additional 204,049 shares during the last quarter. Finally, Comerica Bank increased its stake in shares of Myriad Genetics by 4.8% in the fourth quarter. Comerica Bank now owns 51,750 shares of the company’s stock worth $845,000 after buying an additional 2,348 shares during the last quarter.
Shares of Myriad Genetics (NASDAQ:MYGN) traded down 2.64% during midday trading on Thursday, reaching $22.12. The company had a trading volume of 432,322 shares. Myriad Genetics has a 12-month low of $15.15 and a 12-month high of $35.51. The stock’s 50 day moving average is $19.11 and its 200-day moving average is $17.92. The stock has a market capitalization of $1.51 billion, a PE ratio of 47.26 and a beta of 0.26.
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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