Analysts expect that Myriad Genetics, Inc. (NASDAQ:MYGN) will post $218.38 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Myriad Genetics’ earnings. The lowest sales estimate is $216.50 million and the highest is $221.03 million. Myriad Genetics reported sales of $193.50 million during the same quarter last year, which would suggest a positive year over year growth rate of 12.9%. The business is expected to announce its next earnings report on Tuesday, May 14th.

According to Zacks, analysts expect that Myriad Genetics will report full-year sales of $862.43 million for the current financial year, with estimates ranging from $858.49 million to $869.81 million. For the next financial year, analysts expect that the company will post sales of $931.53 million, with estimates ranging from $894.40 million to $964.43 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Myriad Genetics.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings results on Tuesday, February 5th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.04. Myriad Genetics had a return on equity of 9.79% and a net margin of 3.25%. The business had revenue of $216.80 million for the quarter, compared to analyst estimates of $217.69 million. During the same quarter in the prior year, the firm posted $0.31 earnings per share. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year.

Several equities analysts have recently issued reports on MYGN shares. Zacks Investment Research raised Myriad Genetics from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Friday, January 11th. BidaskClub raised Myriad Genetics from a “hold” rating to a “buy” rating in a research note on Wednesday, February 20th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $40.37.

In related news, insider Ralph L. Mcdade sold 1,975 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $31.00, for a total value of $61,225.00. Following the completion of the sale, the insider now owns 122,604 shares in the company, valued at $3,800,724. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MYGN. Bank of New York Mellon Corp increased its holdings in Myriad Genetics by 6.6% in the third quarter. Bank of New York Mellon Corp now owns 910,032 shares of the company’s stock valued at $41,861,000 after purchasing an additional 55,974 shares during the last quarter. FMR LLC increased its holdings in Myriad Genetics by 409.3% in the third quarter. FMR LLC now owns 215,441 shares of the company’s stock valued at $9,910,000 after purchasing an additional 173,141 shares during the last quarter. Quantbot Technologies LP bought a new stake in Myriad Genetics in the third quarter valued at about $130,000. Pacer Advisors Inc. bought a new stake in Myriad Genetics in the third quarter valued at about $236,000. Finally, Man Group plc increased its holdings in Myriad Genetics by 55.5% in the third quarter. Man Group plc now owns 132,272 shares of the company’s stock valued at $6,085,000 after purchasing an additional 47,200 shares during the last quarter. Institutional investors and hedge funds own 99.22% of the company’s stock.

Shares of MYGN remained flat at $$32.05 during trading hours on Friday. The stock had a trading volume of 530,300 shares, compared to its average volume of 918,019. The company has a quick ratio of 2.68, a current ratio of 2.97 and a debt-to-equity ratio of 0.26. Myriad Genetics has a twelve month low of $26.05 and a twelve month high of $50.44. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 1.91 and a beta of 0.58.

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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