Myriad Genetics, Inc. Expected to Post Q1 2018 Earnings of $0.21 Per Share (MYGN)

Myriad Genetics, Inc. (NASDAQ:MYGN) – Analysts at Jefferies Group reduced their Q1 2018 earnings estimates for shares of Myriad Genetics in a research note issued to investors on Wednesday. Jefferies Group analyst B. Couillard now forecasts that the company will post earnings per share of $0.21 for the quarter, down from their previous estimate of $0.26. Jefferies Group has a “Hold” rating and a $23.00 price target on the stock. Jefferies Group also issued estimates for Myriad Genetics’ Q3 2018 earnings at $0.26 EPS, FY2018 earnings at $1.03 EPS, Q1 2019 earnings at $0.26 EPS, Q2 2019 earnings at $0.27 EPS, Q3 2019 earnings at $0.28 EPS and FY2019 earnings at $1.10 EPS.

Myriad Genetics (NASDAQ:MYGN) last issued its earnings results on Tuesday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.04. Myriad Genetics had a return on equity of 9.67% and a net margin of 2.83%. The business had revenue of $200.50 million during the quarter, compared to analysts’ expectations of $193.71 million. During the same period in the prior year, the firm posted $0.36 EPS. Myriad Genetics’s quarterly revenue was up 7.5% compared to the same quarter last year. COPYRIGHT VIOLATION NOTICE: “Myriad Genetics, Inc. Expected to Post Q1 2018 Earnings of $0.21 Per Share (MYGN)” was originally published by Community Financial News and is the sole property of of Community Financial News. If you are accessing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright legislation. The correct version of this story can be accessed at https://www.com-unik.info/2017/08/11/myriad-genetics-inc-expected-to-post-q1-2018-earnings-of-0-21-per-share-mygn.html.

Several other brokerages also recently commented on MYGN. BidaskClub upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Barclays PLC lowered their price objective on shares of Myriad Genetics from $28.00 to $26.00 and set an “equal weight” rating for the company in a research report on Wednesday. Cowen and Company restated a “hold” rating and set a $25.00 price objective on shares of Myriad Genetics in a research report on Friday, July 14th. Deutsche Bank AG boosted their price objective on shares of Myriad Genetics from $15.00 to $20.00 and gave the company a “sell” rating in a research report on Monday, May 8th. Finally, J P Morgan Chase & Co restated an “underweight” rating and set a $16.00 price objective on shares of Myriad Genetics in a research report on Friday, June 30th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. Myriad Genetics currently has a consensus rating of “Hold” and a consensus target price of $21.78.

Myriad Genetics (NASDAQ:MYGN) traded up 2.1092% during midday trading on Friday, reaching $27.7737. The company had a trading volume of 738,075 shares. The firm has a 50-day moving average of $25.14 and a 200-day moving average of $20.84. Myriad Genetics has a 12 month low of $15.15 and a 12 month high of $28.39. The stock has a market cap of $1.89 billion, a P/E ratio of 59.3455 and a beta of 0.31.

Several hedge funds and other institutional investors have recently made changes to their positions in MYGN. Norges Bank bought a new position in shares of Myriad Genetics during the fourth quarter valued at about $14,319,000. Arizona State Retirement System bought a new position in shares of Myriad Genetics during the first quarter valued at about $682,000. Bank of New York Mellon Corp increased its position in shares of Myriad Genetics by 131.2% in the first quarter. Bank of New York Mellon Corp now owns 918,305 shares of the company’s stock valued at $17,632,000 after buying an additional 521,146 shares during the period. Frontier Capital Management Co. LLC increased its position in shares of Myriad Genetics by 1.4% in the first quarter. Frontier Capital Management Co. LLC now owns 3,075,954 shares of the company’s stock valued at $59,058,000 after buying an additional 41,432 shares during the period. Finally, Great West Life Assurance Co. Can increased its position in shares of Myriad Genetics by 958.4% in the first quarter. Great West Life Assurance Co. Can now owns 97,514 shares of the company’s stock valued at $1,870,000 after buying an additional 88,301 shares during the period.

About Myriad Genetics

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.

Earnings History and Estimates for Myriad Genetics (NASDAQ:MYGN)

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