Jefferies Group Comments on Myriad Genetics, Inc.’s Q2 2019 Earnings (MYGN)
Myriad Genetics, Inc. (NASDAQ:MYGN) – Analysts at Jefferies Group increased their Q2 2019 earnings per share (EPS) estimates for Myriad Genetics in a research note issued on Friday. Jefferies Group analyst B. Couillard now forecasts that the company will earn $0.28 per share for the quarter, up from their previous forecast of $0.27. Jefferies Group currently has a “Hold” rating and a $23.00 target price on the stock. Jefferies Group also issued estimates for Myriad Genetics’ Q3 2019 earnings at $0.29 EPS and Q4 2019 earnings at $0.30 EPS.
Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.26 by $0.04. The business had revenue of $200.50 million for the quarter, compared to analysts’ expectations of $193.71 million. Myriad Genetics had a net margin of 2.83% and a return on equity of 9.67%. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 EPS.
TRADEMARK VIOLATION NOTICE: This news story was posted by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another site, it was copied illegally and reposted in violation of United States & international copyright & trademark legislation. The original version of this news story can be viewed at https://www.americanbankingnews.com/2017/10/23/jefferies-group-comments-on-myriad-genetics-inc-s-q2-2019-earnings-mygn.html.
Several other analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Myriad Genetics from a “hold” rating to a “strong-buy” rating and set a $42.00 target price on the stock in a research report on Tuesday, October 17th. Morgan Stanley reiterated an “underweight” rating and issued a $24.00 target price (up previously from $17.00) on shares of Myriad Genetics in a research report on Friday, October 6th. Leerink Swann reiterated a “market perform” rating and issued a $31.00 target price on shares of Myriad Genetics in a research report on Monday, October 2nd. Stephens reiterated an “overweight” rating and issued a $40.00 target price (up previously from $36.00) on shares of Myriad Genetics in a research report on Friday, September 22nd. Finally, Cowen and Company reiterated a “hold” rating and issued a $25.00 target price on shares of Myriad Genetics in a research report on Sunday, September 17th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $26.40.
Shares of Myriad Genetics (NASDAQ MYGN) opened at 34.86 on Monday. The stock has a market cap of $2.39 billion, a PE ratio of 109.28 and a beta of 0.28. The firm has a 50-day moving average of $34.51 and a 200 day moving average of $26.13. Myriad Genetics has a 52 week low of $15.15 and a 52 week high of $37.30.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. boosted its position in Myriad Genetics by 1,067.4% during the third quarter. Meeder Asset Management Inc. now owns 3,292 shares of the company’s stock worth $119,000 after acquiring an additional 3,010 shares during the last quarter. Fisher Asset Management LLC raised its stake in Myriad Genetics by 97.2% during the third quarter. Fisher Asset Management LLC now owns 120,312 shares of the company’s stock worth $4,353,000 after purchasing an additional 59,301 shares during the period. Shell Asset Management Co. raised its stake in Myriad Genetics by 34.3% during the third quarter. Shell Asset Management Co. now owns 54,867 shares of the company’s stock worth $2,116,000 after purchasing an additional 14,021 shares during the period. Archford Capital Strategies LLC raised its stake in Myriad Genetics by 87,146.7% during the second quarter. Archford Capital Strategies LLC now owns 13,087 shares of the company’s stock worth $713,000 after purchasing an additional 13,072 shares during the period. Finally, Public Employees Retirement System of Ohio raised its stake in Myriad Genetics by 1.0% during the second quarter. Public Employees Retirement System of Ohio now owns 143,036 shares of the company’s stock worth $3,696,000 after purchasing an additional 1,480 shares during the period.
In related news, Director John T. Henderson sold 30,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $30.30, for a total transaction of $909,000.00. Following the transaction, the director now directly owns 52,524 shares in the company, valued at $1,591,477.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.70% of the company’s stock.
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.
Receive News & Ratings for Myriad Genetics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Myriad Genetics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.