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.

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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.

Earnings History and Estimates for Myriad Genetics (NASDAQ:MYGN)

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