Myriad Genetics, Inc. (NASDAQ:MYGN) Expected to Post Earnings of $0.26 Per Share
Equities analysts expect that Myriad Genetics, Inc. (NASDAQ:MYGN) will post $0.26 earnings per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Myriad Genetics’ earnings, with the lowest EPS estimate coming in at $0.23 and the highest estimate coming in at $0.27. Myriad Genetics posted earnings per share of $0.36 in the same quarter last year, which suggests a negative year over year growth rate of 27.8%. The company is expected to issue its next quarterly earnings results on Tuesday, August 8th.
According to Zacks, analysts expect that Myriad Genetics will report full-year earnings of $1.02 per share for the current fiscal year, with EPS estimates ranging from $0.99 to $1.05. For the next fiscal year, analysts anticipate that the business will post earnings of $1.07 per share, with EPS estimates ranging from $0.85 to $1.30. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Myriad Genetics.
Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings data on Tuesday, May 2nd. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.03. Myriad Genetics had a return on equity of 10.53% and a net margin of 4.26%. The business had revenue of $196.90 million for the quarter, compared to the consensus estimate of $188.89 million.
A number of research firms have recently commented on MYGN. Piper Jaffray Companies restated a “hold” rating and set a $22.00 target price on shares of Myriad Genetics in a research report on Friday, July 14th. BidaskClub lowered shares of Myriad Genetics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $21.00 price target (up from $18.00) on shares of Myriad Genetics in a research note on Wednesday, May 3rd. Zacks Investment Research raised shares of Myriad Genetics from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research note on Monday, July 17th. Finally, Cowen and Company reaffirmed a “hold” rating and issued a $25.00 price target on shares of Myriad Genetics in a research note on Friday, July 14th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $22.00.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Parametrica Management Ltd acquired a new position in Myriad Genetics during the first quarter worth $236,000. Capstone Asset Management Co. acquired a new position in Myriad Genetics during the first quarter worth $336,000. Bank of Montreal Can raised its position in Myriad Genetics by 5.2% in the first quarter. Bank of Montreal Can now owns 112,150 shares of the company’s stock worth $2,154,000 after buying an additional 5,529 shares during the period. Creative Planning raised its position in Myriad Genetics by 11.8% in the first quarter. Creative Planning now owns 6,371 shares of the company’s stock worth $122,000 after buying an additional 671 shares during the period. Finally, Foundry Partners LLC raised its position in Myriad Genetics by 3.6% in the first quarter. Foundry Partners LLC now owns 22,500 shares of the company’s stock worth $432,000 after buying an additional 775 shares during the period.
Shares of Myriad Genetics (NASDAQ:MYGN) remained flat at $24.16 during trading on Monday. 819,313 shares of the stock traded hands. Myriad Genetics has a 12-month low of $15.15 and a 12-month high of $32.54. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 51.62 and a beta of 0.32. The company has a 50-day moving average price of $24.27 and a 200 day moving average price of $20.02.
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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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