Myriad Genetics, Inc. (MYGN) Expected to Post Earnings of $0.33 Per Share

Brokerages expect that Myriad Genetics, Inc. (NASDAQ:MYGN) will announce earnings of $0.33 per share for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Myriad Genetics’ earnings. The highest EPS estimate is $0.35 and the lowest is $0.31. Myriad Genetics reported earnings per share of $0.30 in the same quarter last year, which suggests a positive year-over-year growth rate of 10%. The firm is expected to announce its next quarterly earnings results on Tuesday, August 14th.

According to Zacks, analysts expect that Myriad Genetics will report full-year earnings of $1.21 per share for the current year, with EPS estimates ranging from $1.19 to $1.22. For the next year, analysts anticipate that the firm will report earnings of $1.44 per share, with EPS estimates ranging from $1.35 to $1.63. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Myriad Genetics.

Myriad Genetics (NASDAQ:MYGN) last issued its earnings results on Tuesday, May 8th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.04. The firm had revenue of $193.50 million for the quarter, compared to analyst estimates of $188.22 million. Myriad Genetics had a return on equity of 9.52% and a net margin of 17.67%. The business’s revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 earnings per share.

MYGN has been the topic of several research reports. TheStreet upgraded Myriad Genetics from a “c+” rating to a “b” rating in a research note on Monday, June 4th. ValuEngine lowered Myriad Genetics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 21st. BTIG Research set a $42.00 target price on Myriad Genetics and gave the company a “buy” rating in a research note on Tuesday, May 8th. Morgan Stanley boosted their target price on Myriad Genetics from $33.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 9th. Finally, Zacks Investment Research lowered Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 18th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $31.17.

In other news, Director Dennis Langer sold 10,000 shares of Myriad Genetics stock in a transaction on Monday, May 21st. The stock was sold at an average price of $35.90, for a total value of $359,000.00. Following the completion of the transaction, the director now directly owns 49,743 shares in the company, valued at $1,785,773.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Richard M. Marsh sold 33,000 shares of Myriad Genetics stock in a transaction on Monday, June 18th. The shares were sold at an average price of $40.00, for a total value of $1,320,000.00. Following the completion of the transaction, the vice president now owns 157,197 shares of the company’s stock, valued at $6,287,880. The disclosure for this sale can be found here. Over the last quarter, insiders sold 326,139 shares of company stock valued at $12,684,500. 6.70% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its position in Myriad Genetics by 59.5% during the first quarter. Royal Bank of Canada now owns 4,597 shares of the company’s stock worth $136,000 after buying an additional 1,715 shares in the last quarter. Meadow Creek Investment Management LLC grew its position in Myriad Genetics by 19.4% during the fourth quarter. Meadow Creek Investment Management LLC now owns 11,322 shares of the company’s stock worth $389,000 after buying an additional 1,836 shares in the last quarter. Great West Life Assurance Co. Can grew its position in Myriad Genetics by 2.0% during the first quarter. Great West Life Assurance Co. Can now owns 92,760 shares of the company’s stock worth $2,740,000 after buying an additional 1,858 shares in the last quarter. Teachers Advisors LLC grew its position in Myriad Genetics by 1.7% during the fourth quarter. Teachers Advisors LLC now owns 117,695 shares of the company’s stock worth $4,042,000 after buying an additional 1,948 shares in the last quarter. Finally, KBC Group NV grew its position in Myriad Genetics by 37.5% during the fourth quarter. KBC Group NV now owns 7,193 shares of the company’s stock worth $247,000 after buying an additional 1,962 shares in the last quarter.

Shares of MYGN traded up $0.22 during mid-day trading on Tuesday, hitting $37.37. The stock had a trading volume of 796,200 shares, compared to its average volume of 723,394. The firm has a market cap of $2.57 billion, a PE ratio of 35.60, a PEG ratio of 3.29 and a beta of 0.55. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.52 and a quick ratio of 3.16. Myriad Genetics has a 52 week low of $23.28 and a 52 week high of $41.57.

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; BART, a DNA sequencing test for hereditary 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; 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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Earnings History and Estimates for Myriad Genetics (NASDAQ:MYGN)

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