Myriad Genetics (NASDAQ:MYGN) issued an update on its FY20 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 $1.94. The company issued revenue guidance of $865-875 million, compared to the consensus revenue estimate of $920.73 million.Myriad Genetics also updated its FY 2020 guidance to $1.80-1.90 EPS.
Shares of MYGN traded down $0.73 during mid-day trading on Tuesday, reaching $44.55. 1,427,956 shares of the company were exchanged, 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 debt-to-equity ratio of 0.24, a current ratio of 3.15 and a quick ratio of 2.86. The company has a market capitalization of $3.31 billion, a PE ratio of 37.13, a PEG ratio of 2.14 and a beta of 0.81. The stock has a 50 day simple moving average of $32.01.
Myriad Genetics (NASDAQ:MYGN) last issued its earnings results on Tuesday, August 13th. The company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.01. The business had revenue of $215.40 million during the quarter, compared to the consensus estimate of $221.64 million. Myriad Genetics had a return on equity of 9.82% and a net margin of 2.62%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 earnings per share. Equities research analysts predict that Myriad Genetics will post 1.44 EPS for the current fiscal year.
A number of equities research analysts have weighed in on MYGN shares. Zacks Investment Research upgraded Myriad Genetics from a sell rating to a hold rating and set a $30.00 target price for the company in a report on Monday, July 1st. Deutsche Bank lifted their target price on Myriad Genetics from $32.00 to $45.00 and gave the stock a hold rating in a report on Monday, August 5th. Bank of America upgraded Myriad Genetics from an underperform rating to a neutral rating in a report on Friday, August 2nd. BidaskClub upgraded Myriad Genetics from a hold rating to a buy rating in a report on Tuesday, August 6th. Finally, Cowen downgraded Myriad Genetics from an outperform rating to a market perform rating and set a $26.64 target price for the company. in a report on Tuesday, July 9th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $39.94.
In other Myriad Genetics news, VP Gary A. King sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $43.49, for a total value of $2,609,400.00. Following the completion of the sale, the vice president now owns 164,871 shares of the company’s stock, valued at $7,170,239.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bernard Tobin sold 11,712 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $40.00, for a total value of $468,480.00. Following the completion of the sale, the insider now directly owns 146,040 shares of the company’s stock, valued at approximately $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 in the last three months. 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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