$0.21 Earnings Per Share Expected for Myriad Genetics, Inc. (MYGN) This Quarter
Equities analysts predict that Myriad Genetics, Inc. (NASDAQ:MYGN) will report earnings per share (EPS) of $0.21 for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Myriad Genetics’ earnings. The lowest EPS estimate is $0.19 and the highest is $0.28. Myriad Genetics reported earnings per share of $0.23 during the same quarter last year, which indicates a negative year over year growth rate of 8.7%. The company is scheduled to announce its next earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that Myriad Genetics will report full-year earnings of $1.01 per share for the current financial year, with EPS estimates ranging from $0.91 to $1.06. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.16 per share, with EPS estimates ranging from $0.93 to $1.41. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Myriad Genetics.
Myriad Genetics (NASDAQ:MYGN) last announced its earnings results on Tuesday, August 8th. The company reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.04. The company had revenue of $200.50 million during the quarter, compared to the consensus estimate of $193.71 million. Myriad Genetics had a net margin of 2.83% and a return on equity of 9.67%. Myriad Genetics’s revenue was up 7.5% compared to the same quarter last year. During the same period last year, the firm earned $0.36 earnings per share.
MYGN has been the subject of several recent analyst reports. BidaskClub downgraded shares of Myriad Genetics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Zacks Investment Research upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Monday, July 17th. Barclays PLC lowered their target price on shares of Myriad Genetics from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 9th. Jefferies Group LLC restated a “hold” rating and issued a $21.00 target price (up from $18.00) on shares of Myriad Genetics in a research note on Wednesday, May 3rd. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $22.00 target price on shares of Myriad Genetics in a research note on Friday, July 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $21.22.
Shares of Myriad Genetics (MYGN) traded up 0.23% during midday trading on Wednesday, reaching $29.97. 75,330 shares of the company’s stock traded hands. Myriad Genetics has a 1-year low of $15.15 and a 1-year high of $29.99. The firm’s 50-day moving average price is $25.97 and its 200 day moving average price is $21.83. The stock has a market capitalization of $2.05 billion, a P/E ratio of 93.95 and a beta of 0.31.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MYGN. Great West Life Assurance Co. Can boosted its position in 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 worth $1,870,000 after buying an additional 88,301 shares during the last quarter. Tocqueville Asset Management L.P. purchased a new position in Myriad Genetics during the first quarter worth $866,000. Wells Fargo & Company MN boosted its position in Myriad Genetics by 38.0% in the first quarter. Wells Fargo & Company MN now owns 486,580 shares of the company’s stock worth $9,343,000 after buying an additional 134,099 shares during the last quarter. BB&T Corp boosted its position in Myriad Genetics by 11.6% in the first quarter. BB&T Corp now owns 202,231 shares of the company’s stock worth $3,882,000 after buying an additional 21,058 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Myriad Genetics by 0.6% in the first quarter. Russell Investments Group Ltd. now owns 1,115,833 shares of the company’s stock worth $21,423,000 after buying an additional 7,113 shares during the last quarter.
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Myriad Genetics Company Profile
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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