Myriad Genetics, Inc. Forecasted to Post FY2018 Earnings of $1.03 Per Share (MYGN)
Myriad Genetics, Inc. (NASDAQ:MYGN) – Research analysts at Leerink Swann issued their FY2018 earnings estimates for Myriad Genetics in a report released on Monday. Leerink Swann analyst P. Souda forecasts that the company will post earnings per share of $1.03 for the year. Leerink Swann currently has a “Market Perform” rating and a $31.00 price target on the stock.
Myriad Genetics (NASDAQ:MYGN) last released its earnings results on Tuesday, August 8th. The company reported $0.30 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.04. The firm had revenue of $200.50 million during the quarter, compared to the consensus estimate of $193.71 million. Myriad Genetics had a return on equity of 9.67% and a net margin of 2.83%. The company’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 earnings per share. ILLEGAL ACTIVITY WARNING: “Myriad Genetics, Inc. Forecasted to Post FY2018 Earnings of $1.03 Per Share (MYGN)” was first published by American Banking News and is the property of of American Banking News. If you are accessing this story on another site, it was copied illegally and republished in violation of US & international trademark & copyright law. The correct version of this story can be read at https://www.americanbankingnews.com/2017/10/04/myriad-genetics-inc-forecasted-to-post-fy2018-earnings-of-1-03-per-share-mygn.html.
Several other equities research analysts have also commented on the stock. BidaskClub upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. Zacks Investment Research upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Monday, July 17th. Barclays PLC decreased their price objective on shares of Myriad Genetics from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 9th. Cowen and Company restated a “hold” rating and issued a $25.00 price objective on shares of Myriad Genetics in a research note on Monday, August 14th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $23.00 price objective (up previously from $21.00) on shares of Myriad Genetics in a report on Thursday, August 10th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $24.20.
Shares of Myriad Genetics (MYGN) traded down 2.437% during trading on Wednesday, reaching $36.225. 382,257 shares of the company traded hands. The stock’s 50 day moving average is $31.93 and its 200 day moving average is $24.64. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of 113.558 and a beta of 0.28. Myriad Genetics has a 1-year low of $15.15 and a 1-year high of $37.14.
In related news, Director John T. Henderson sold 30,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $30.30, for a total transaction of $909,000.00. Following the transaction, the director now owns 52,524 shares of the company’s stock, valued at $1,591,477.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 6.20% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its stake in shares of Myriad Genetics by 168,335.7% in the 1st quarter. BlackRock Inc. now owns 9,541,884 shares of the company’s stock valued at $183,203,000 after purchasing an additional 9,536,219 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Myriad Genetics by 0.9% in the second quarter. Vanguard Group Inc. now owns 6,307,738 shares of the company’s stock valued at $162,992,000 after purchasing an additional 56,708 shares during the period. Camber Capital Management LLC increased its holdings in shares of Myriad Genetics by 6.5% in the first quarter. Camber Capital Management LLC now owns 4,325,000 shares of the company’s stock valued at $83,040,000 after purchasing an additional 265,000 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Myriad Genetics by 29.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,430,216 shares of the company’s stock valued at $88,636,000 after purchasing an additional 787,396 shares during the period. Finally, Thrivent Financial For Lutherans increased its holdings in shares of Myriad Genetics by 7,026.7% in the second quarter. Thrivent Financial For Lutherans now owns 2,742,340 shares of the company’s stock valued at $70,862,000 after purchasing an additional 2,703,860 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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