Wall Street brokerages expect Myriad Genetics, Inc. (NASDAQ:MYGN) to report earnings per share (EPS) of $0.24 for the current quarter, according to Zacks. Five analysts have issued estimates for Myriad Genetics’ earnings, with estimates ranging from $0.22 to $0.26. Myriad Genetics reported earnings per share of $0.26 during the same quarter last year, which suggests a negative year-over-year growth rate of 7.7%. The company is expected to announce its next earnings report on Tuesday, February 6th.
On average, analysts expect that Myriad Genetics will report full year earnings of $1.05 per share for the current fiscal year, with EPS estimates ranging from $1.03 to $1.10. For the next financial year, analysts expect that the company will post earnings of $1.23 per share, with EPS estimates ranging from $1.09 to $1.55. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Myriad Genetics.
Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. The company had revenue of $190.20 million for the quarter, compared to the consensus estimate of $183.52 million. Myriad Genetics had a net margin of 13.28% and a return on equity of 9.54%. Myriad Genetics’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.23 EPS.
A number of analysts have issued reports on the stock. BidaskClub downgraded shares of Myriad Genetics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Cowen and Company reiterated a “hold” rating and issued a $25.00 price target on shares of Myriad Genetics in a report on Sunday, September 17th. Jefferies Group LLC reiterated a “hold” rating and issued a $23.00 price target (up from $21.00) on shares of Myriad Genetics in a report on Thursday, August 10th. Barclays PLC reduced their price target on shares of Myriad Genetics from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 9th. Finally, Leerink Swann reiterated a “market perform” rating and issued a $31.00 price target on shares of Myriad Genetics in a report on Monday, October 2nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $28.10.
In related news, Director John T. Henderson sold 30,000 shares of Myriad Genetics stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $30.30, for a total transaction of $909,000.00. Following the completion of the transaction, the director now directly owns 52,524 shares of the company’s stock, valued at approximately $1,591,477.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Alexander Ford sold 3,031 shares of Myriad Genetics stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $31.64, for a total transaction of $95,900.84. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in MYGN. BlackRock Inc. boosted its stake in shares of Myriad Genetics by 168,335.7% during the 1st quarter. BlackRock Inc. now owns 9,541,884 shares of the company’s stock worth $183,203,000 after purchasing an additional 9,536,219 shares during the period. Thrivent Financial For Lutherans boosted its position in Myriad Genetics by 7,026.7% in the 2nd quarter. Thrivent Financial For Lutherans now owns 2,742,340 shares of the company’s stock valued at $70,862,000 after buying an additional 2,703,860 shares during the period. Vanguard Group Inc. boosted its position in Myriad Genetics by 16.8% in the 1st quarter. Vanguard Group Inc. now owns 6,251,030 shares of the company’s stock valued at $120,020,000 after buying an additional 897,287 shares during the period. Dimensional Fund Advisors LP boosted its position in Myriad Genetics by 29.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,430,216 shares of the company’s stock valued at $88,636,000 after buying an additional 787,396 shares during the period. Finally, Wells Fargo & Company MN boosted its position in Myriad Genetics by 98.2% in the 3rd quarter. Wells Fargo & Company MN now owns 844,339 shares of the company’s stock valued at $30,548,000 after buying an additional 418,335 shares during the period.
Shares of Myriad Genetics (NASDAQ MYGN) opened at $31.36 on Wednesday. The company has a quick ratio of 2.06, a current ratio of 2.34 and a debt-to-equity ratio of 0.09. The stock has a market cap of $2,184.55, a price-to-earnings ratio of 28.94, a price-to-earnings-growth ratio of 2.02 and a beta of 0.24. Myriad Genetics has a fifty-two week low of $15.15 and a fifty-two week high of $37.30.
About Myriad Genetics
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Myriad Genetics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Myriad Genetics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.