Zacks: Analysts Expect Myriad Genetics, Inc. (MYGN) to Announce $0.38 Earnings Per Share

Wall Street brokerages expect Myriad Genetics, Inc. (NASDAQ:MYGN) to announce $0.38 earnings per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Myriad Genetics’ earnings, with the highest EPS estimate coming in at $0.45 and the lowest estimate coming in at $0.28. Myriad Genetics reported earnings of $0.31 per share during the same quarter last year, which would indicate a positive year over year growth rate of 22.6%. The firm is expected to announce its next quarterly earnings report on Tuesday, February 5th.

According to Zacks, analysts expect that Myriad Genetics will report full-year earnings of $1.78 per share for the current year, with EPS estimates ranging from $1.71 to $1.91. For the next year, analysts expect that the firm will report earnings of $1.95 per share, with EPS estimates ranging from $1.56 to $2.69. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover Myriad Genetics.

Myriad Genetics (NASDAQ:MYGN) last released its earnings results on Tuesday, November 6th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.13. The firm had revenue of $202.30 million during the quarter, compared to the consensus estimate of $203.20 million. Myriad Genetics had a return on equity of 10.07% and a net margin of 7.07%. The company’s revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.26 EPS.

A number of equities analysts have recently commented on MYGN shares. Morgan Stanley boosted their price target on Myriad Genetics from $51.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, October 10th. Piper Jaffray Companies raised Myriad Genetics from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $38.00 to $53.00 in a report on Wednesday, October 10th. BidaskClub cut Myriad Genetics from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 9th. Zacks Investment Research cut Myriad Genetics from a “buy” rating to a “hold” rating in a report on Monday, October 29th. Finally, Deutsche Bank boosted their price target on Myriad Genetics from $37.00 to $43.00 and gave the stock a “hold” rating in a report on Monday, November 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $39.70.

Shares of NASDAQ:MYGN traded down $0.89 during trading on Wednesday, reaching $29.37. 8,240 shares of the company traded hands, compared to its average volume of 1,314,775. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 24.64, a PEG ratio of 1.97 and a beta of 0.58. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.17. Myriad Genetics has a 52 week low of $26.80 and a 52 week high of $50.44.

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its stake in shares of Myriad Genetics by 6.7% in the second quarter. BlackRock Inc. now owns 11,083,521 shares of the company’s stock valued at $414,192,000 after buying an additional 691,243 shares during the period. Chicago Equity Partners LLC acquired a new stake in shares of Myriad Genetics in the second quarter valued at about $243,000. Legal & General Group Plc increased its stake in shares of Myriad Genetics by 5.8% in the second quarter. Legal & General Group Plc now owns 149,669 shares of the company’s stock valued at $5,582,000 after buying an additional 8,207 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Myriad Genetics in the second quarter valued at about $372,000. Finally, Natixis acquired a new stake in shares of Myriad Genetics in the second quarter valued at about $228,000. 99.06% of the stock is owned by institutional investors and hedge funds.

Myriad Genetics Company Profile

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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