Myriad Genetics, Inc. (NASDAQ:MYGN) – Stock analysts at William Blair lifted their FY2018 earnings per share estimates for Myriad Genetics in a research note issued to investors on Thursday. William Blair analyst A. Murphy now expects that the company will earn $1.15 per share for the year, up from their prior forecast of $1.11. William Blair also issued estimates for Myriad Genetics’ Q1 2019 earnings at $0.32 EPS, Q2 2019 earnings at $0.33 EPS, Q3 2019 earnings at $0.31 EPS, FY2019 earnings at $1.35 EPS and FY2020 earnings at $1.65 EPS.
Other research analysts also recently issued research reports about the company. ValuEngine raised Myriad Genetics from a “hold” rating to a “buy” rating in a report on Friday, November 10th. BTIG Research started coverage on Myriad Genetics in a report on Friday, January 5th. They issued a “buy” rating and a $41.00 target price on the stock. Stephens set a $45.00 target price on Myriad Genetics and gave the company a “buy” rating in a report on Wednesday, January 3rd. Barclays increased their target price on Myriad Genetics from $30.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, January 22nd. Finally, Zacks Investment Research downgraded Myriad Genetics from a “strong-buy” rating to a “hold” rating in a report on Friday, December 15th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $31.42.
Myriad Genetics (NASDAQ:MYGN) last posted its earnings results on Tuesday, February 6th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.07. Myriad Genetics had a return on equity of 9.59% and a net margin of 16.67%. The company had revenue of $194.00 million for the quarter, compared to the consensus estimate of $188.72 million. During the same quarter in the prior year, the company earned $0.26 earnings per share. Myriad Genetics’s revenue was down 1.3% on a year-over-year basis.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Myriad Genetics by 1.5% in the fourth quarter. BlackRock Inc. now owns 10,066,753 shares of the company’s stock worth $345,743,000 after buying an additional 150,003 shares during the period. Dimensional Fund Advisors LP raised its stake in Myriad Genetics by 4.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,580,081 shares of the company’s stock valued at $129,527,000 after purchasing an additional 149,865 shares during the period. Acadian Asset Management LLC raised its stake in Myriad Genetics by 18.4% during the 4th quarter. Acadian Asset Management LLC now owns 2,205,297 shares of the company’s stock valued at $75,743,000 after purchasing an additional 343,196 shares during the period. Russell Investments Group Ltd. raised its stake in Myriad Genetics by 7.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,151,915 shares of the company’s stock valued at $41,676,000 after purchasing an additional 78,798 shares during the period. Finally, Wells Fargo & Company MN raised its stake in Myriad Genetics by 7.1% during the 4th quarter. Wells Fargo & Company MN now owns 904,595 shares of the company’s stock valued at $31,069,000 after purchasing an additional 60,256 shares during the period.
In other news, Director Heinrich Dreismann sold 6,000 shares of the firm’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $33.50, for a total value of $201,000.00. Following the transaction, the director now owns 33,743 shares of the company’s stock, valued at $1,130,390.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Richard M. Marsh sold 13,759 shares of the firm’s stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $36.25, for a total value of $498,763.75. Following the completion of the transaction, the vice president now directly owns 136,385 shares in the company, valued at approximately $4,943,956.25. The disclosure for this sale can be found here. Insiders sold 68,033 shares of company stock worth $2,583,197 in the last ninety days. Corporate insiders own 6.70% of the company’s stock.
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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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