Myriad Genetics (MYGN) Scheduled to Post Quarterly Earnings on Tuesday

Myriad Genetics (NASDAQ:MYGN) is set to announce its earnings results after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of ($0.11) per share for the quarter. Myriad Genetics has set its FY24 guidance at $0.00-$0.05 EPS and its FY 2024 guidance at 0.000-0.050 EPS.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.03. The business had revenue of $196.60 million for the quarter, compared to the consensus estimate of $194.80 million. Myriad Genetics had a negative net margin of 34.96% and a negative return on equity of 8.03%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.20) earnings per share. On average, analysts expect Myriad Genetics to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Myriad Genetics Price Performance

MYGN traded down $0.28 during midday trading on Wednesday, hitting $19.29. 84,472 shares of the company traded hands, compared to its average volume of 624,142. The company has a current ratio of 2.01, a quick ratio of 1.87 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of -6.05 and a beta of 1.95. Myriad Genetics has a 52-week low of $13.82 and a 52-week high of $24.21. The business has a 50 day simple moving average of $21.02 and a two-hundred day simple moving average of $19.68.

Analyst Ratings Changes

Separately, The Goldman Sachs Group increased their price objective on shares of Myriad Genetics from $28.00 to $31.00 and gave the company a “buy” rating in a report on Monday, January 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $23.17.

Myriad Genetics Company Profile

Myriad Genetics, Inc, a genetic testing and precision medicine company, develops genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and pharmacogenomics. It also provides MyRisk Hereditary Cancer Test, a DNA sequencing test for assessing the risks for hereditary cancers; BRACAnalysis CDx Germline Companion Diagnostic Test, a DNA sequencing test to help determine the therapy for patients with metastatic breast, ovarian, metastatic pancreatic, and metastatic prostate cancer with deleterious or suspected deleterious germline BRCA variants; and MyChoice CDx Companion Diagnostic Test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer.