Myriad Genetics, Inc. Expected to Post Q1 2018 Earnings of $0.20 Per Share (MYGN)
Myriad Genetics, Inc. (NASDAQ:MYGN) – Equities researchers at Leerink Swann issued their Q1 2018 earnings per share (EPS) estimates for shares of Myriad Genetics in a report released on Monday. Leerink Swann analyst P. Souda anticipates that the company will post earnings per share of $0.20 for the quarter. Leerink Swann has a “Market Perform” rating and a $31.00 price target on the stock. Leerink Swann also issued estimates for Myriad Genetics’ Q2 2018 earnings at $0.26 EPS, Q3 2018 earnings at $0.26 EPS, Q4 2018 earnings at $0.31 EPS, Q1 2019 earnings at $0.26 EPS, Q2 2019 earnings at $0.28 EPS, Q3 2019 earnings at $0.29 EPS, Q4 2019 earnings at $0.30 EPS and FY2019 earnings at $1.13 EPS.
Several other research firms have also weighed in on MYGN. Stephens reiterated an “overweight” rating and issued a $40.00 price objective (up previously from $36.00) on shares of Myriad Genetics in a research note on Friday, September 22nd. Cowen and Company reissued a “hold” rating and set a $25.00 target price on shares of Myriad Genetics in a research note on Sunday, September 17th. Jefferies Group LLC restated 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. Deutsche Bank AG raised shares of Myriad Genetics from a “sell” rating to a “hold” rating and decreased their price target for the company from $27.86 to $15.00 in a research note on Friday, August 18th. Finally, BidaskClub raised shares of Myriad Genetics from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $24.20.
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Shares of Myriad Genetics (NASDAQ:MYGN) traded down 0.35% during midday trading on Tuesday, hitting $36.65. 128,725 shares of the stock traded hands. The firm has a 50-day moving average price of $31.66 and a 200-day moving average price of $24.50. Myriad Genetics has a 52 week low of $15.15 and a 52 week high of $36.99. The stock has a market capitalization of $2.51 billion, a P/E ratio of 114.89 and a beta of 0.27.
Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.04. The firm had revenue of $200.50 million for the quarter, compared to analyst estimates of $193.71 million. Myriad Genetics had a net margin of 2.83% and a return on equity of 9.67%. The business’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 earnings per share.
In other Myriad Genetics news, Director John T. Henderson sold 30,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $30.30, for a total transaction of $909,000.00. Following the transaction, the director now directly owns 52,524 shares in the company, valued at approximately $1,591,477.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 6.20% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Arizona State Retirement System bought a new position in shares of Myriad Genetics during the first quarter valued at about $682,000. Airain ltd bought a new stake in Myriad Genetics in the 2nd quarter worth about $1,097,000. PDT Partners LLC bought a new stake in Myriad Genetics in the 2nd quarter worth about $8,481,000. Bank of New York Mellon Corp grew its position in Myriad Genetics by 131.2% in the 1st quarter. Bank of New York Mellon Corp now owns 918,305 shares of the company’s stock worth $17,632,000 after purchasing an additional 521,146 shares in the last quarter. Finally, Blair William & Co. IL bought a new stake in Myriad Genetics in the 2nd quarter worth about $1,048,000.
Myriad Genetics Company Profile
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.
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