$0.47 Earnings Per Share Expected for Myriad Genetics, Inc. (NASDAQ:MYGN) This Quarter

Wall Street analysts predict that Myriad Genetics, Inc. (NASDAQ:MYGN) will announce earnings of $0.47 per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Myriad Genetics’ earnings. The lowest EPS estimate is $0.41 and the highest is $0.48. Myriad Genetics posted earnings of $0.38 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 23.7%. The firm is expected to announce its next earnings results on Tuesday, August 20th.

According to Zacks, analysts expect that Myriad Genetics will report full-year earnings of $1.74 per share for the current year. For the next fiscal year, analysts anticipate that the business will post earnings of $1.87 per share, with EPS estimates ranging from $1.65 to $1.96. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for Myriad Genetics.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.04). The firm had revenue of $216.60 million for the quarter, compared to analysts’ expectations of $217.76 million. Myriad Genetics had a net margin of 2.62% and a return on equity of 9.82%. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.34 earnings per share.

Several brokerages recently commented on MYGN. BidaskClub lowered shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. Zacks Investment Research lowered shares of Myriad Genetics from a “hold” rating to a “sell” rating in a research report on Monday, May 13th. Barclays increased their price objective on shares of Myriad Genetics from $18.00 to $20.00 and gave the company an “underweight” rating in a research report on Friday, June 14th. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $32.00 price objective on shares of Myriad Genetics in a research report on Tuesday, May 14th. They noted that the move was a valuation call. Finally, ValuEngine lowered shares of Myriad Genetics from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $38.41.

A number of large investors have recently modified their holdings of MYGN. Vanguard Group Inc increased its holdings in Myriad Genetics by 4.4% in the 3rd quarter. Vanguard Group Inc now owns 8,656,933 shares of the company’s stock worth $398,219,000 after buying an additional 365,697 shares during the period. Rhumbline Advisers increased its holdings in Myriad Genetics by 27.8% in the 4th quarter. Rhumbline Advisers now owns 207,061 shares of the company’s stock worth $6,019,000 after buying an additional 45,070 shares during the period. Creative Planning increased its holdings in Myriad Genetics by 37.2% in the 4th quarter. Creative Planning now owns 7,933 shares of the company’s stock worth $231,000 after buying an additional 2,150 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in Myriad Genetics by 4.1% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 24,043 shares of the company’s stock worth $699,000 after buying an additional 957 shares during the period. Finally, Oregon Public Employees Retirement Fund acquired a new position in Myriad Genetics in the 4th quarter worth approximately $28,000. Institutional investors own 99.22% of the company’s stock.

Shares of Myriad Genetics stock traded down $0.73 during midday trading on Tuesday, hitting $22.31. The company had a trading volume of 90,891 shares, compared to its average volume of 933,629. The stock has a market capitalization of $1.73 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 1.41 and a beta of 0.79. The company has a current ratio of 3.15, a quick ratio of 2.86 and a debt-to-equity ratio of 0.24. The business has a fifty day moving average price of $25.40. Myriad Genetics has a 12-month low of $22.78 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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Earnings History and Estimates for Myriad Genetics (NASDAQ:MYGN)

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