Myriad Genetics (NASDAQ:MYGN) issued an update on its FY 2020 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.80-1.90 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.92. The company issued revenue guidance of $865-875 million, compared to the consensus revenue estimate of $921.99 million.Myriad Genetics also updated its Q1 2020 guidance to $0.30-0.32 EPS.
NASDAQ MYGN traded down $0.73 during trading hours on Tuesday, reaching $44.55. 1,427,956 shares of the company’s stock traded hands, compared to its average volume of 1,043,926. Myriad Genetics has a 52-week low of $22.07 and a 52-week high of $50.44. The company has a market cap of $3.31 billion, a price-to-earnings ratio of 37.13, a PEG ratio of 2.14 and a beta of 0.81. The business’s 50-day simple moving average is $31.56. The company has a current ratio of 3.15, a quick ratio of 2.86 and a debt-to-equity ratio of 0.24.
A number of research firms have weighed in on MYGN. Zacks Investment Research upgraded shares of Myriad Genetics from a sell rating to a hold rating and set a $30.00 price objective for the company in a research note on Monday, July 1st. Deutsche Bank raised their price objective on shares of Myriad Genetics from $32.00 to $45.00 and gave the company a hold rating in a research note on Monday, August 5th. Cowen lowered shares of Myriad Genetics from an outperform rating to a market perform rating and set a $26.64 price objective for the company. in a research note on Tuesday, July 9th. BidaskClub upgraded shares of Myriad Genetics from a hold rating to a buy rating in a research note on Tuesday, August 6th. Finally, ValuEngine upgraded shares of Myriad Genetics from a sell rating to a hold rating in a research note on Thursday, August 1st. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $39.94.
In other news, CFO Richard Bryan Riggsbee sold 25,000 shares of Myriad Genetics stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $41.50, for a total value of $1,037,500.00. Following the completion of the sale, the chief financial officer now directly owns 120,566 shares in the company, valued at $5,003,489. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bernard Tobin sold 11,712 shares of Myriad Genetics stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $40.00, for a total transaction of $468,480.00. Following the completion of the sale, the insider now owns 146,040 shares of the company’s stock, valued at $5,841,600. The disclosure for this sale can be found here. Insiders sold 96,712 shares of company stock valued at $4,115,380 over the last quarter. Company insiders own 5.80% of the company’s stock.
Myriad Genetics Company Profile
Myriad Genetics, Inc, a molecular diagnostic company, focuses on developing and marketing novel predictive medicine, personalized medicine, and prognostic medicine tests worldwide. The company offers molecular diagnostic tests, including myRisk Hereditary Cancer, a DNA sequencing test for hereditary cancers; BRACAnalysis, a DNA sequencing test to assess the risk of developing breast and ovarian cancer; BRACAnalysis CDx, a DNA sequencing test for use as a companion diagnostic with the platinum based chemotherapy agents and poly ADP ribose inhibitor Lynparza; riskScore, a clinically validated personalized medicine tool; GeneSight, a DNA genotyping test to optimize psychotropic drug selection for neuroscience patients; and Tumor BRACAnalysis CDx, a DNA sequencing test that is designed to be utilized to predict response to DNA damaging agents.
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