Myriad Genetics (NASDAQ:MYGN) issued an update on its first quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.30-0.32 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.43. The company issued revenue guidance of $200-202 million, compared to the consensus revenue estimate of $217.38 million.Myriad Genetics also updated its FY 2020 guidance to $1.80-1.90 EPS.
Shares of NASDAQ MYGN traded down $0.73 during midday trading on Tuesday, reaching $44.55. 1,427,956 shares of the company 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 stock’s 50-day moving average is $32.01. The company has a current ratio of 3.15, a quick ratio of 2.86 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $3.31 billion, a P/E ratio of 37.13, a price-to-earnings-growth ratio of 2.14 and a beta of 0.81.
Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. Myriad Genetics had a net margin of 2.62% and a return on equity of 9.82%. The business had revenue of $215.40 million for the quarter, compared to analysts’ expectations of $221.64 million. During the same period in the previous year, the business earned $0.38 earnings per share. The company’s revenue was up 11.1% on a year-over-year basis. As a group, equities analysts anticipate that Myriad Genetics will post 1.44 earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on MYGN shares. Zacks Investment Research upgraded shares of Myriad Genetics from a sell rating to a hold rating and set a $30.00 price objective on the stock in a research note on Monday, July 1st. Barclays upgraded shares of Myriad Genetics from an underweight rating to an equal weight rating and lifted their price objective for the company from $18.00 to $40.00 in a research note on Thursday, August 1st. Cowen cut shares of Myriad Genetics from an outperform rating to a market perform rating and set a $26.64 price objective on the stock. in a research note on Tuesday, July 9th. Deutsche Bank boosted their price target on shares of Myriad Genetics from $32.00 to $45.00 and gave the stock a hold rating in a research report on Monday, August 5th. Finally, ValuEngine upgraded shares of Myriad Genetics from a sell rating to a hold rating in a research report on Thursday, August 1st. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $39.94.
In other Myriad Genetics news, insider Bernard Tobin sold 11,712 shares of the stock in a transaction 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 transaction, the insider now directly owns 146,040 shares in the company, valued at $5,841,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard Bryan Riggsbee sold 25,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $41.50, for a total value of $1,037,500.00. Following the transaction, the chief financial officer now owns 120,566 shares of the company’s stock, valued at $5,003,489. The disclosure for this sale can be found here. Insiders have sold a total of 96,712 shares of company stock worth $4,115,380 over the last ninety days. 5.80% of the stock is owned by corporate insiders.
About Myriad Genetics
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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