Myriad Genetics, Inc. (MYGN) Expected to Post Quarterly Sales of $188.75 Million
Wall Street brokerages forecast that Myriad Genetics, Inc. (NASDAQ:MYGN) will report $188.75 million in sales for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Myriad Genetics’ earnings. The highest sales estimate is $189.93 million and the lowest is $188.00 million. Myriad Genetics reported sales of $196.50 million in the same quarter last year, which indicates a negative year over year growth rate of 3.9%. The business is scheduled to report its next quarterly earnings report on Tuesday, February 6th.
On average, analysts expect that Myriad Genetics will report full-year sales of $188.75 million for the current year, with estimates ranging from $758.90 million to $782.01 million. For the next financial year, analysts anticipate that the firm will report sales of $806.00 million per share, with estimates ranging from $769.32 million to $842.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Myriad Genetics.
Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.05. Myriad Genetics had a return on equity of 9.54% and a net margin of 13.28%. The firm had revenue of $190.20 million during the quarter, compared to analyst estimates of $183.52 million. During the same quarter in the previous year, the firm earned $0.23 EPS. Myriad Genetics’s quarterly revenue was up 7.2% compared to the same quarter last year.
In other Myriad Genetics news, insider Alexander Ford sold 3,031 shares of the business’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $31.64, for a total transaction of $95,900.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 6.70% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. GHP Investment Advisors Inc. raised its holdings in shares of Myriad Genetics by 11.1% in the 3rd quarter. GHP Investment Advisors Inc. now owns 48,710 shares of the company’s stock valued at $1,762,000 after buying an additional 4,853 shares during the period. Vanguard Group Inc. increased its holdings in Myriad Genetics by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 6,307,738 shares of the company’s stock worth $162,992,000 after purchasing an additional 56,708 shares during the period. Airain ltd purchased a new stake in Myriad Genetics during the 2nd quarter worth about $1,097,000. PDT Partners LLC purchased a new stake in Myriad Genetics during the 2nd quarter worth about $8,481,000. Finally, Shell Asset Management Co. increased its holdings in Myriad Genetics by 34.3% during the 3rd 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.
Myriad Genetics (MYGN) opened at $33.53 on Tuesday. Myriad Genetics has a 52-week low of $15.15 and a 52-week high of $37.30. The firm has a market capitalization of $2,341.72, a PE ratio of 31.03, a price-to-earnings-growth ratio of 2.14 and a beta of 0.25. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.34 and a quick ratio of 2.06.
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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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