Myriad Genetics, Inc. (MYGN) Expected to Announce Quarterly Sales of $193.54 Million
Wall Street brokerages expect Myriad Genetics, Inc. (NASDAQ:MYGN) to report $193.54 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Myriad Genetics’ earnings. The lowest sales estimate is $193.00 million and the highest is $194.28 million. Myriad Genetics reported sales of $186.50 million during the same quarter last year, which indicates a positive year over year growth rate of 3.8%. The business is expected to announce its next earnings report on Tuesday, August 8th.
According to Zacks, analysts expect that Myriad Genetics will report full year sales of $193.54 million for the current fiscal year, with estimates ranging from $764.00 million to $768.13 million. For the next fiscal year, analysts forecast that the business will report sales of $791.18 million per share, with estimates ranging from $770.91 million to $848.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Myriad Genetics.
Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings results on Tuesday, May 2nd. The company reported $0.27 EPS for the quarter, topping 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 firm had revenue of $196.90 million during the quarter, compared to analysts’ expectations of $188.89 million.
Several brokerages recently issued reports on MYGN. BidaskClub cut Myriad Genetics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $22.00 price objective on shares of Myriad Genetics in a report on Friday, July 14th. Zacks Investment Research raised Myriad Genetics from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a report on Monday, July 17th. Cowen and Company reaffirmed a “hold” rating and set a $25.00 price objective on shares of Myriad Genetics in a report on Friday, July 14th. Finally, Deutsche Bank AG lifted their price objective on Myriad Genetics from $15.00 to $20.00 and gave the stock a “sell” rating in a report on Monday, May 8th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. Myriad Genetics presently has an average rating of “Hold” and a consensus target price of $22.00.
Shares of Myriad Genetics (NASDAQ:MYGN) opened at 23.86 on Wednesday. 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 $1.63 billion, a PE ratio of 50.98 and a beta of 0.32. The company’s 50 day moving average price is $24.48 and its 200 day moving average price is $20.14.
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Institutional investors have recently added to or reduced their stakes in the company. Parametrica Management Ltd bought a new position in Myriad Genetics during the first quarter worth $236,000. Capstone Asset Management Co. bought a new position in Myriad Genetics during the first quarter worth $336,000. Bank of Montreal Can boosted 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 boosted 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 boosted 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.
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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