Myriad Genetics, Inc. (NASDAQ:MYGN) Releases Quarterly Earnings Results
Myriad Genetics, Inc. (NASDAQ:MYGN) posted its quarterly earnings results on Tuesday. The company reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.04, Briefing.com reports. The company had revenue of $200.50 million for the quarter, compared to analysts’ expectations of $193.71 million. Myriad Genetics had a return on equity of 10.53% and a net margin of 4.26%. The firm’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 earnings per share. Myriad Genetics updated its Q1 guidance to $0.19-0.21 EPS and its FY18 guidance to $1.00-1.05 EPS.
Shares of Myriad Genetics (NASDAQ:MYGN) traded up 1.35% during mid-day trading on Tuesday, reaching $25.55. 1,863,830 shares of the company’s stock traded hands. The company’s 50 day moving average is $24.97 and its 200-day moving average is $20.53. Myriad Genetics has a 52 week low of $15.15 and a 52 week high of $31.49. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 54.59 and a beta of 0.31.
Several research analysts have issued reports on the company. BidaskClub cut Myriad Genetics from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $22.00 price target on shares of Myriad Genetics in a report on Friday, July 14th. Cowen and Company reaffirmed a “hold” rating and issued a $25.00 price target on shares of Myriad Genetics in a report on Friday, July 14th. Deutsche Bank AG upped their price target on Myriad Genetics from $15.00 to $20.00 and gave the company a “sell” rating in a report on Monday, May 8th. Finally, Zacks Investment Research raised Myriad Genetics from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Monday, July 17th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $21.77.
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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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