Myriad Genetics, Inc. Forecasted to Earn FY2018 Earnings of $1.14 Per Share (MYGN)

Myriad Genetics, Inc. (NASDAQ:MYGN) – Equities research analysts at Leerink Swann boosted their FY2018 earnings estimates for Myriad Genetics in a research note issued to investors on Wednesday. Leerink Swann analyst P. Souda now expects that the company will post earnings of $1.14 per share for the year, up from their prior forecast of $1.04. Leerink Swann currently has a “Market Perform” rating and a $35.00 target price on the stock. Leerink Swann also issued estimates for Myriad Genetics’ Q1 2019 earnings at $0.29 EPS, Q2 2019 earnings at $0.29 EPS, Q3 2019 earnings at $0.30 EPS, Q4 2019 earnings at $0.33 EPS and FY2019 earnings at $1.20 EPS.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.24 by $0.07. The firm had revenue of $194.00 million for the quarter, compared to analyst estimates of $188.72 million. Myriad Genetics had a return on equity of 9.94% and a net margin of 16.67%. The company’s revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.26 EPS.

A number of other research analysts have also weighed in on MYGN. BTIG Research started coverage on Myriad Genetics in a research report on Friday, January 5th. They set a “buy” rating and a $41.00 price objective for the company. Barclays reissued a “hold” rating and issued a $30.00 target price on shares of Myriad Genetics in a report on Monday, January 8th. Zacks Investment Research raised Myriad Genetics from a “hold” rating to a “strong-buy” rating and set a $42.00 target price for the company in a report on Tuesday, October 17th. Goldman Sachs Group started coverage on Myriad Genetics in a report on Monday, January 29th. They issued a “sell” rating and a $32.00 target price for the company. Finally, ValuEngine raised Myriad Genetics from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Myriad Genetics presently has a consensus rating of “Hold” and an average target price of $31.42.

Shares of Myriad Genetics (NASDAQ MYGN) traded down $0.13 during trading on Thursday, hitting $33.70. The stock had a trading volume of 356,064 shares, compared to its average volume of 761,622. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.34 and a quick ratio of 2.06. The company has a market cap of $2,479.51, a price-to-earnings ratio of 18.29, a PEG ratio of 2.26 and a beta of 0.32. Myriad Genetics has a 12-month low of $15.71 and a 12-month high of $41.57.

In other Myriad Genetics news, VP Richard M. Marsh sold 13,759 shares of the business’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $36.25, for a total value of $498,763.75. Following the completion of the transaction, the vice president now owns 136,385 shares in the company, valued at $4,943,956.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Richard M. Marsh sold 37,654 shares of the business’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $40.25, for a total transaction of $1,515,573.50. Following the completion of the transaction, the vice president now owns 157,648 shares of the company’s stock, valued at approximately $6,345,332. The disclosure for this sale can be found here. Insiders sold a total of 71,064 shares of company stock worth $2,679,097 over the last three months. Corporate insiders own 6.70% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in MYGN. Wells Fargo & Company MN lifted its position in Myriad Genetics by 98.2% in the third quarter. Wells Fargo & Company MN now owns 844,339 shares of the company’s stock valued at $30,548,000 after acquiring an additional 418,335 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Myriad Genetics by 18.4% in the fourth quarter. Acadian Asset Management LLC now owns 2,205,297 shares of the company’s stock valued at $75,743,000 after buying an additional 343,196 shares during the last quarter. Northern Trust Corp increased its stake in shares of Myriad Genetics by 31.1% during the second quarter. Northern Trust Corp now owns 1,292,588 shares of the company’s stock worth $33,400,000 after acquiring an additional 306,276 shares during the period. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Myriad Genetics during the third quarter worth about $9,083,000. Finally, Robeco Institutional Asset Management B.V. acquired a new position in shares of Myriad Genetics during the fourth quarter worth about $5,979,000.

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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.

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

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