Analysts Anticipate Myriad Genetics, Inc. (MYGN) Will Post Quarterly Sales of $188.14 Million

Wall Street analysts predict that Myriad Genetics, Inc. (NASDAQ:MYGN) will report $188.14 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Myriad Genetics’ earnings, with the highest sales estimate coming in at $189.25 million and the lowest estimate coming in at $187.04 million. Myriad Genetics reported sales of $196.90 million in the same quarter last year, which indicates a negative year-over-year growth rate of 4.4%. The business is expected to report its next quarterly earnings report on Tuesday, May 1st.

According to Zacks, analysts expect that Myriad Genetics will report full-year sales of $188.14 million for the current fiscal year, with estimates ranging from $758.90 million to $773.13 million. For the next year, analysts forecast that the company will report sales of $806.15 million per share, with estimates ranging from $780.45 million to $841.52 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Myriad Genetics.

Myriad Genetics (NASDAQ:MYGN) last announced its earnings results on Tuesday, February 6th. The company reported $0.31 earnings per share 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 the consensus estimate of $188.72 million. Myriad Genetics had a return on equity of 9.59% and a net margin of 16.67%. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 EPS.

Several analysts have weighed in on MYGN shares. BTIG Research started coverage on Myriad Genetics in a research note on Friday, January 5th. They set a “buy” rating and a $41.00 target price on the stock. Barclays reaffirmed a “hold” rating and set a $30.00 target price on shares of Myriad Genetics in a research note 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 on the stock in a research note on Tuesday, October 17th. Goldman Sachs Group started coverage on Myriad Genetics in a research note on Monday, January 29th. They set a “sell” rating and a $32.00 target price on the stock. Finally, ValuEngine raised Myriad Genetics from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Myriad Genetics has a consensus rating of “Hold” and an average price target of $31.42.

Shares of Myriad Genetics (MYGN) opened at $32.96 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.06 and a current ratio of 2.05. The firm has a market capitalization of $2,278.52, a price-to-earnings ratio of 17.82, a price-to-earnings-growth ratio of 2.41 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 news, VP Gary A. King sold 3,120 shares of Myriad Genetics stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $38.12, for a total transaction of $118,934.40. Following the transaction, the vice president now directly owns 125,088 shares in the company, valued at approximately $4,768,354.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Alexander Ford sold 3,031 shares of Myriad Genetics stock in a transaction on Monday, November 13th. The shares were sold at an average price of $31.64, for a total value of $95,900.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,064 shares of company stock worth $2,679,097. 6.70% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of MYGN. Wells Fargo & Company MN increased its position in shares of Myriad Genetics by 98.2% during the 3rd quarter. Wells Fargo & Company MN now owns 844,339 shares of the company’s stock valued at $30,548,000 after purchasing an additional 418,335 shares during the period. Acadian Asset Management LLC increased its position in shares of Myriad Genetics by 18.4% during the 4th quarter. Acadian Asset Management LLC now owns 2,205,297 shares of the company’s stock valued at $75,743,000 after purchasing an additional 343,196 shares during the period. Northern Trust Corp grew its holdings in shares of Myriad Genetics by 31.1% in the 2nd 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 last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Myriad Genetics in the 3rd quarter worth $9,083,000. Finally, Robeco Institutional Asset Management B.V. acquired a new position in shares of Myriad Genetics in the 4th quarter worth $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.

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

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