$0.33 EPS Expected for Myriad Genetics, Inc. (MYGN) This Quarter
Wall Street analysts expect that Myriad Genetics, Inc. (NASDAQ:MYGN) will post $0.33 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued 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 during the same quarter last year, which would suggest a positive year-over-year growth rate of 10%. The company is expected to announce its next earnings report 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 financial year, with EPS estimates ranging from $1.19 to $1.22. For the next fiscal year, analysts anticipate that the business will post earnings of $1.44 per share, with EPS estimates ranging from $1.35 to $1.63. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Myriad Genetics.
Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings results on Tuesday, May 8th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.04. The business had revenue of $193.50 million for the quarter, compared to analysts’ expectations of $188.22 million. Myriad Genetics had a net margin of 17.67% and a return on equity of 9.52%. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 earnings per share.
Myriad Genetics stock traded down $0.07 on Friday, hitting $38.83. 587,300 shares of the stock traded hands, compared to its average volume of 693,485. The company has a current ratio of 3.52, a quick ratio of 3.16 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $2.73 billion, a P/E ratio of 36.98, a P/E/G ratio of 3.49 and a beta of 0.55. Myriad Genetics has a 1 year low of $22.72 and a 1 year high of $41.57.
In other news, Director Dennis Langer sold 20,369 shares of Myriad Genetics stock in a transaction dated Friday, June 8th. The stock was sold at an average price of $39.35, for a total value of $801,520.15. Following the completion of the transaction, the director now owns 43,352 shares of the company’s stock, valued at approximately $1,705,901.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Mark Christopher Capone sold 90,000 shares of Myriad Genetics stock in a transaction dated Wednesday, May 30th. The stock was sold at an average price of $38.00, for a total value of $3,420,000.00. Following the completion of the transaction, the insider now directly owns 422,175 shares of the company’s stock, valued at approximately $16,042,650. The disclosure for this sale can be found here. In the last ninety days, insiders sold 233,139 shares of company stock valued at $8,957,300. 6.70% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of MYGN. Schwab Charles Investment Management Inc. raised its position in shares of Myriad Genetics by 4.7% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 660,729 shares of the company’s stock worth $22,693,000 after purchasing an additional 29,797 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Myriad Genetics by 42.2% in the 4th quarter. SG Americas Securities LLC now owns 6,673 shares of the company’s stock worth $229,000 after purchasing an additional 1,979 shares during the last quarter. Engineers Gate Manager LP purchased a new position in shares of Myriad Genetics in the 4th quarter worth about $740,000. Aperio Group LLC raised its position in shares of Myriad Genetics by 21.4% in the 4th quarter. Aperio Group LLC now owns 14,241 shares of the company’s stock worth $489,000 after purchasing an additional 2,509 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its position in shares of Myriad Genetics by 58.3% in the 4th quarter. Meeder Asset Management Inc. now owns 5,210 shares of the company’s stock worth $179,000 after purchasing an additional 1,918 shares during the last quarter.
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; 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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