Equities research analysts forecast that Myriad Genetics, Inc. (NASDAQ:MYGN) will announce $218.45 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Myriad Genetics’ earnings, with the highest sales estimate coming in at $226.28 million and the lowest estimate coming in at $215.75 million. Myriad Genetics posted sales of $194.00 million in the same quarter last year, which suggests a positive year-over-year growth rate of 12.6%. The business is expected to announce its next quarterly earnings results on Tuesday, February 5th.
According to Zacks, analysts expect that Myriad Genetics will report full year sales of $872.12 million for the current financial year, with estimates ranging from $859.02 million to $891.40 million. For the next financial year, analysts expect that the firm will report sales of $939.49 million, with estimates ranging from $895.80 million to $1.00 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Myriad Genetics.
Myriad Genetics (NASDAQ:MYGN) last posted its earnings results on Tuesday, November 6th. The company reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.13. The business had revenue of $202.30 million during the quarter, compared to analyst estimates of $203.20 million. Myriad Genetics had a return on equity of 10.07% and a net margin of 7.07%. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 EPS.
MYGN has been the subject of a number of research analyst reports. Piper Jaffray Companies upgraded Myriad Genetics from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $38.00 to $53.00 in a research report on Wednesday, October 10th. Zacks Investment Research downgraded Myriad Genetics from a “buy” rating to a “hold” rating in a research report on Monday. BidaskClub downgraded Myriad Genetics from a “hold” rating to a “sell” rating in a research report on Wednesday, December 5th. Barclays dropped their target price on Myriad Genetics from $23.00 to $21.00 and set an “underweight” rating for the company in a research report on Thursday, January 3rd. Finally, Needham & Company LLC started coverage on Myriad Genetics in a research report on Wednesday, January 2nd. They issued a “strong-buy” rating and a $36.00 target price for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $39.70.
Hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP bought a new stake in Myriad Genetics in the third quarter worth $130,000. First Quadrant L P CA bought a new stake in Myriad Genetics in the third quarter worth $201,000. Ibex Investors LLC bought a new stake in Myriad Genetics in the third quarter worth $202,000. Parametrica Management Ltd bought a new stake in Myriad Genetics in the third quarter worth $204,000. Finally, CHICAGO TRUST Co NA boosted its holdings in Myriad Genetics by 50.0% in the fourth quarter. CHICAGO TRUST Co NA now owns 7,500 shares of the company’s stock worth $218,000 after acquiring an additional 2,500 shares in the last quarter. 99.06% of the stock is currently owned by institutional investors.
Shares of MYGN traded down $0.77 during trading hours on Friday, reaching $29.49. 7,630 shares of the company’s stock traded hands, compared to its average volume of 1,314,775. The company has a market cap of $2.28 billion, a PE ratio of 24.64, a price-to-earnings-growth ratio of 1.97 and a beta of 0.58. The company has a current ratio of 3.17, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23. Myriad Genetics has a 12 month low of $26.80 and a 12 month high of $50.44.
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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