Myriad Genetics (NASDAQ:MYGN) Issues Q1 Earnings Guidance
Myriad Genetics (NASDAQ:MYGN) updated its first quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.30-0.32 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.43. The company issued revenue guidance of $200-202 million, compared to the consensus revenue estimate of $217.38 million.Myriad Genetics also updated its FY 2020 guidance to $1.80-1.90 EPS.
Several equities research analysts have recently commented on the stock. BidaskClub raised shares of Myriad Genetics from a hold rating to a buy rating in a research report on Tuesday, August 6th. Deutsche Bank upped their price target on shares of Myriad Genetics from $32.00 to $45.00 and gave the company a hold rating in a research report on Monday, August 5th. Zacks Investment Research raised shares of Myriad Genetics from a sell rating to a hold rating and set a $30.00 target price for the company in a report on Monday, July 1st. Barclays raised shares of Myriad Genetics from an underweight rating to an equal weight rating and increased their target price for the stock from $18.00 to $40.00 in a report on Thursday, August 1st. Finally, ValuEngine raised shares of Myriad Genetics from a sell rating to a hold rating in a report on Thursday, August 1st. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Myriad Genetics has a consensus rating of Hold and an average target price of $39.94.
MYGN stock traded down $0.73 during midday trading on Tuesday, hitting $44.55. The company’s stock had a trading volume of 1,427,956 shares, compared to its average volume of 1,043,926. Myriad Genetics has a 12 month low of $22.07 and a 12 month high of $50.44. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.15 and a quick ratio of 2.86. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 37.13, a price-to-earnings-growth ratio of 2.14 and a beta of 0.81. The business has a 50 day moving average price of $32.01.
In other news, insider Bernard Tobin sold 11,712 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $40.00, for a total transaction of $468,480.00. Following the completion of the transaction, the insider now directly owns 146,040 shares in the company, valued at approximately $5,841,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Richard Bryan Riggsbee sold 25,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $41.50, for a total value of $1,037,500.00. Following the transaction, the chief financial officer now owns 120,566 shares of the company’s stock, valued at $5,003,489. The disclosure for this sale can be found here. Insiders sold a total of 96,712 shares of company stock valued at $4,115,380 over the last 90 days. 5.80% of the stock is currently owned by corporate insiders.
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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