Myriad Genetics, Inc. (MYGN) Releases Earnings Results, Beats Estimates By $0.05 EPS
Myriad Genetics, Inc. (NASDAQ:MYGN) announced its quarterly earnings data on Tuesday. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05, Bloomberg Earnings reports. Myriad Genetics had a net margin of 2.83% and a return on equity of 9.67%. The company had revenue of $190.20 million during the quarter, compared to the consensus estimate of $183.52 million. During the same quarter last year, the firm posted $0.23 EPS. The company’s quarterly revenue was up 7.2% on a year-over-year basis. Myriad Genetics updated its Q2 guidance to $0.22-0.24 EPS and its FY18 guidance to $1.00-1.05 EPS.
Shares of Myriad Genetics (MYGN) traded down $0.40 during trading on Tuesday, reaching $29.90. 1,746,052 shares of the company’s stock traded hands, compared to its average volume of 961,910. Myriad Genetics has a twelve month low of $15.15 and a twelve month high of $37.30. The company has a quick ratio of 1.26, a current ratio of 1.46 and a debt-to-equity ratio of 0.13. The firm has a market cap of $2,070.00, a PE ratio of 26.84, a price-to-earnings-growth ratio of 1.83 and a beta of 0.24.
MYGN has been the subject of several research analyst reports. Zacks Investment Research raised shares of Myriad Genetics from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a report on Monday, July 17th. Morgan Stanley reaffirmed an “underweight” rating and set a $24.00 target price (up previously from $17.00) on shares of Myriad Genetics in a report on Friday, October 6th. BidaskClub downgraded shares of Myriad Genetics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Cowen and Company reaffirmed a “hold” rating and set a $25.00 target price on shares of Myriad Genetics in a report on Friday, July 14th. Finally, Leerink Swann reaffirmed a “market perform” rating and set a $31.00 target price on shares of Myriad Genetics in a report on Monday, October 2nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Myriad Genetics currently has a consensus rating of “Hold” and a consensus target price of $26.40.
In other Myriad Genetics news, Director John T. Henderson sold 30,000 shares of Myriad Genetics stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $30.30, for a total value of $909,000.00. Following the completion of the sale, the director now owns 52,524 shares in the company, valued at approximately $1,591,477.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.70% of the stock is owned by insiders.
TRADEMARK VIOLATION WARNING: “Myriad Genetics, Inc. (MYGN) Releases Earnings Results, Beats Estimates By $0.05 EPS” was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this report on another website, it was copied illegally and republished in violation of international trademark and copyright legislation. The legal version of this report can be read at https://www.thecerbatgem.com/2017/11/07/myriad-genetics-inc-mygn-releases-earnings-results-beats-estimates-by-0-05-eps.html.
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.