Q1 2018 EPS Estimates for Myriad Genetics, Inc. Decreased by Analyst (MYGN)
Myriad Genetics, Inc. (NASDAQ:MYGN) – Investment analysts at William Blair decreased their Q1 2018 earnings per share (EPS) estimates for Myriad Genetics in a research note issued to investors on Friday. William Blair analyst A. Murphy now forecasts that the company will post earnings of $0.19 per share for the quarter, down from their previous forecast of $0.23. William Blair also issued estimates for Myriad Genetics’ Q2 2018 earnings at $0.21 EPS, Q3 2018 earnings at $0.27 EPS, Q4 2018 earnings at $0.33 EPS, FY2018 earnings at $1.00 EPS and FY2019 earnings at $1.08 EPS.
Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings data on Tuesday, August 8th. The company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.04. Myriad Genetics had a net margin of 2.83% and a return on equity of 9.67%. The business had revenue of $200.50 million for the quarter, compared to analysts’ expectations of $193.71 million. During the same quarter last year, the company earned $0.36 EPS. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. COPYRIGHT VIOLATION NOTICE: This report was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this report on another publication, it was illegally stolen and republished in violation of US and international trademark & copyright law. The original version of this report can be accessed at https://www.thecerbatgem.com/2017/08/16/q1-2018-eps-estimates-for-myriad-genetics-inc-decreased-by-analyst-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 note on Saturday, June 17th. Barclays PLC reduced their target price on shares of Myriad Genetics from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 9th. Jefferies Group LLC restated a “hold” rating and issued a $21.00 target price (up previously from $18.00) on shares of Myriad Genetics in a research note on Wednesday, May 3rd. Cowen and Company restated a “hold” rating and issued a $25.00 target price on shares of Myriad Genetics in a research note on Friday, July 14th. Finally, Deutsche Bank AG boosted their target price on shares of Myriad Genetics from $15.00 to $20.00 and gave the company a “sell” rating in a research note on Monday, May 8th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $21.78.
Myriad Genetics (NASDAQ MYGN) traded up 0.14% during mid-day trading on Monday, hitting $28.09. 260,806 shares of the company were exchanged. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 88.06 and a beta of 0.31. Myriad Genetics has a 12-month low of $15.15 and a 12-month high of $28.39. The stock’s 50 day moving average is $25.27 and its 200-day moving average is $21.17.
Hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Myriad Genetics by 168,335.7% in the first quarter. BlackRock Inc. now owns 9,541,884 shares of the company’s stock valued at $183,203,000 after buying an additional 9,536,219 shares in the last quarter. Thrivent Financial For Lutherans boosted its stake in shares of Myriad Genetics by 7,026.7% in the second quarter. Thrivent Financial For Lutherans now owns 2,742,340 shares of the company’s stock valued at $70,862,000 after buying an additional 2,703,860 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Myriad Genetics by 59.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,642,820 shares of the company’s stock valued at $50,742,000 after buying an additional 987,966 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Myriad Genetics by 16.8% in the first quarter. Vanguard Group Inc. now owns 6,251,030 shares of the company’s stock valued at $120,020,000 after buying an additional 897,287 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Myriad Genetics during the fourth quarter valued at $14,319,000.
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.
Receive News & Stock Ratings for Myriad Genetics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Myriad Genetics Inc. and related stocks with our FREE daily email newsletter.