Analysts Offer Predictions for Myriad Genetics, Inc.’s Q1 2019 Earnings (MYGN)
Myriad Genetics, Inc. (NASDAQ:MYGN) – William Blair issued their Q1 2019 earnings per share (EPS) estimates for Myriad Genetics in a research report issued on Thursday. William Blair analyst A. Murphy anticipates that the company will post earnings of $0.22 per share for the quarter. William Blair also issued estimates for Myriad Genetics’ Q2 2019 earnings at $0.23 EPS, Q3 2019 earnings at $0.29 EPS and Q4 2019 earnings at $0.35 EPS.
MYGN has been the topic of a number of other research reports. Jefferies Group LLC reiterated a “hold” rating and issued a $23.00 target price (up previously from $21.00) on shares of Myriad Genetics in a report on Thursday, August 10th. Cowen and Company reiterated a “hold” rating and issued a $25.00 target price on shares of Myriad Genetics in a report on Sunday, September 17th. BidaskClub upgraded Myriad Genetics from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Deutsche Bank AG upgraded Myriad Genetics from a “sell” rating to a “hold” rating and dropped their target price for the company from $27.86 to $15.00 in a report on Friday, August 18th. Finally, Stephens reiterated an “overweight” rating and issued a $40.00 target price (up previously from $36.00) on shares of Myriad Genetics in a report on Friday, September 22nd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $24.18.
Myriad Genetics (NASDAQ:MYGN) traded up 0.63% during midday trading on Friday, reaching $36.74. 359,777 shares of the company were exchanged. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 115.17 and a beta of 0.28. The firm’s 50-day moving average price is $32.41 and its 200 day moving average price is $24.80. Myriad Genetics has a 52-week low of $15.15 and a 52-week high of $37.14.
Myriad Genetics (NASDAQ:MYGN) last released its earnings results on Tuesday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. Myriad Genetics had a net margin of 2.83% and a return on equity of 9.67%. The firm had revenue of $200.50 million during the quarter, compared to the consensus estimate of $193.71 million. During the same period in the previous year, the firm earned $0.36 earnings per share. Myriad Genetics’s revenue was up 7.5% compared to the same quarter last year.
In other Myriad Genetics news, Director John T. Henderson sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $30.30, for a total transaction of $909,000.00. Following the completion of the sale, the director now owns 52,524 shares of the company’s stock, valued at $1,591,477.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.20% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Arizona State Retirement System bought a new stake in Myriad Genetics during the first quarter worth approximately $682,000. Airain ltd bought a new stake in Myriad Genetics during the second quarter worth approximately $1,097,000. PDT Partners LLC bought a new stake in Myriad Genetics during the second quarter worth approximately $8,481,000. Bank of New York Mellon Corp boosted its position in shares of Myriad Genetics by 131.2% in the first quarter. Bank of New York Mellon Corp now owns 918,305 shares of the company’s stock valued at $17,632,000 after acquiring an additional 521,146 shares during the period. Finally, Blair William & Co. IL bought a new stake in shares of Myriad Genetics in the second quarter valued at approximately $1,048,000.
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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