Myriad Genetics, Inc. to Post Q3 2018 Earnings of $0.27 Per Share, Leerink Swann Forecasts (MYGN)

Myriad Genetics, Inc. (NASDAQ:MYGN) – Equities research analysts at Leerink Swann lifted their Q3 2018 earnings per share (EPS) estimates for shares of Myriad Genetics in a report issued on Wednesday. Leerink Swann analyst P. Souda now forecasts that the company will post earnings per share of $0.27 for the quarter, up from their prior forecast of $0.25. Leerink Swann currently has a “Market Perform” rating and a $35.00 target price on the stock. Leerink Swann also issued estimates for Myriad Genetics’ Q4 2018 earnings at $0.30 EPS.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.07. The firm had revenue of $194.00 million during the quarter, compared to analyst estimates of $188.72 million. Myriad Genetics had a return on equity of 9.59% and a net margin of 16.67%. Myriad Genetics’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period last year, the company earned $0.26 EPS.

Several other research firms also recently commented on MYGN. Goldman Sachs Group began coverage on Myriad Genetics in a report on Monday, January 29th. They set a “sell” rating and a $32.00 price objective on the stock. Barclays raised their price objective on Myriad Genetics from $30.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, January 22nd. BidaskClub upgraded Myriad Genetics from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 20th. Zacks Investment Research upgraded Myriad Genetics from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective on the stock in a report on Tuesday, October 17th. Finally, BTIG Research set a $41.00 price objective on Myriad Genetics and gave the stock a “buy” rating in a report on Tuesday, January 16th. Three 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 assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $31.42.

Myriad Genetics (MYGN) opened at $32.96 on Friday. The company has a market capitalization of $2,278.52, a price-to-earnings ratio of 17.82, a price-to-earnings-growth ratio of 2.41 and a beta of 0.32. Myriad Genetics has a fifty-two week low of $15.71 and a fifty-two week high of $41.57. The company has a current ratio of 2.05, a quick ratio of 2.06 and a debt-to-equity ratio of 0.05.

Several large investors have recently made changes to their positions in the company. Wells Fargo & Company MN boosted its position in shares of Myriad Genetics by 98.2% in the 3rd quarter. Wells Fargo & Company MN now owns 844,339 shares of the company’s stock worth $30,548,000 after purchasing an additional 418,335 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Myriad Genetics by 18.4% in the 4th quarter. Acadian Asset Management LLC now owns 2,205,297 shares of the company’s stock worth $75,743,000 after purchasing an additional 343,196 shares in the last quarter. Northern Trust Corp boosted its position in shares of Myriad Genetics by 31.1% in the 2nd quarter. Northern Trust Corp now owns 1,292,588 shares of the company’s stock worth $33,400,000 after purchasing an additional 306,276 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Myriad Genetics in the 3rd quarter worth $9,083,000. Finally, Robeco Institutional Asset Management B.V. acquired a new stake in shares of Myriad Genetics in the 4th quarter worth $5,979,000.

In other news, Director Walter Phd Gilbert sold 7,500 shares of Myriad Genetics stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $33.19, for a total value of $248,925.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Alexander Ford sold 3,031 shares of Myriad Genetics stock in a transaction on Monday, November 13th. The shares were sold at an average price of $31.64, for a total value of $95,900.84. The disclosure for this sale can be found here. Insiders sold a total of 71,064 shares of company stock worth $2,679,097 over the last quarter. Company insiders own 6.70% of the company’s stock.

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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.

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

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