Zacks: Brokerages Expect Myriad Genetics, Inc. (MYGN) Will Post Earnings of $0.24 Per Share

Equities analysts expect Myriad Genetics, Inc. (NASDAQ:MYGN) to post earnings per share (EPS) of $0.24 for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Myriad Genetics’ earnings. The lowest EPS estimate is $0.22 and the highest is $0.26. Myriad Genetics posted earnings of $0.26 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 7.7%. The company is scheduled to report its next quarterly earnings results on Tuesday, February 6th.

On average, analysts expect that Myriad Genetics will report full-year earnings of $1.05 per share for the current fiscal year, with EPS estimates ranging from $1.03 to $1.10. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.23 per share, with EPS estimates ranging from $1.09 to $1.52. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Myriad Genetics.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. Myriad Genetics had a return on equity of 9.54% and a net margin of 13.28%. The business had revenue of $190.20 million during the quarter, compared to analysts’ expectations of $183.52 million. During the same quarter last year, the company posted $0.23 earnings per share. Myriad Genetics’s quarterly revenue was up 7.2% on a year-over-year basis.

A number of equities analysts recently commented on MYGN shares. Barclays reduced their price target on Myriad Genetics from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Wednesday, August 9th. Jefferies Group reiterated a “hold” rating and set a $23.00 price target (up previously from $21.00) on shares of Myriad Genetics in a report on Thursday, August 10th. Zacks Investment Research cut Myriad Genetics from a “buy” rating to a “hold” rating in a report on Friday, August 11th. BidaskClub upgraded Myriad Genetics from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. Finally, Cowen reiterated a “hold” rating and set a $25.00 price target on shares of Myriad Genetics in a report on Monday, August 14th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Myriad Genetics presently has a consensus rating of “Hold” and a consensus price target of $28.10.

In other news, insider Alexander Ford sold 3,031 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $31.64, for a total transaction of $95,900.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 6.70% of the company’s stock.

Several large investors have recently modified their holdings of MYGN. Teachers Advisors LLC boosted its holdings in shares of Myriad Genetics by 1.1% during the first quarter. Teachers Advisors LLC now owns 116,924 shares of the company’s stock worth $2,245,000 after acquiring an additional 1,287 shares during the period. Aperio Group LLC boosted its holdings in shares of Myriad Genetics by 4.6% during the second quarter. Aperio Group LLC now owns 12,129 shares of the company’s stock worth $313,000 after acquiring an additional 534 shares during the period. Hartford Investment Management Co. bought a new stake in shares of Myriad Genetics during the second quarter worth approximately $258,000. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Myriad Genetics by 3.1% during the second quarter. Municipal Employees Retirement System of Michigan now owns 16,080 shares of the company’s stock worth $416,000 after acquiring an additional 490 shares during the period. Finally, NGAM Advisors L.P. boosted its holdings in shares of Myriad Genetics by 15.1% during the second quarter. NGAM Advisors L.P. now owns 109,275 shares of the company’s stock worth $2,824,000 after acquiring an additional 14,375 shares during the period.

Myriad Genetics (NASDAQ:MYGN) traded down $0.81 during trading on Friday, reaching $33.82. The company had a trading volume of 652,697 shares, compared to its average volume of 1,054,122. Myriad Genetics has a fifty-two week low of $15.15 and a fifty-two week high of $37.30. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.34 and a quick ratio of 2.06. The company has a market capitalization of $2,341.73, a PE ratio of 31.03, a P/E/G ratio of 2.14 and a beta of 0.25.

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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.

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