Myriad Genetics, Inc. (NASDAQ:MYGN) Expected to Post Earnings of $0.01 Per Share

Wall Street brokerages forecast that Myriad Genetics, Inc. (NASDAQ:MYGN) will post $0.01 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Myriad Genetics’ earnings. The lowest EPS estimate is ($0.02) and the highest is $0.04. Myriad Genetics reported earnings per share of ($0.15) in the same quarter last year, which indicates a positive year-over-year growth rate of 106.7%. The business is scheduled to announce its next quarterly earnings report on Monday, November 8th.

On average, analysts expect that Myriad Genetics will report full year earnings of $0.13 per share for the current year, with EPS estimates ranging from $0.03 to $0.22. For the next financial year, analysts anticipate that the business will post earnings of $0.33 per share, with EPS estimates ranging from $0.17 to $0.40. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover Myriad Genetics.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings data on Tuesday, August 3rd. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.21. The business had revenue of $189.40 million during the quarter, compared to analyst estimates of $163.09 million. Myriad Genetics had a negative net margin of 15.64% and a negative return on equity of 4.29%. Myriad Genetics’s revenue was up 103.2% compared to the same quarter last year. During the same period last year, the business earned ($0.31) EPS.

A number of research firms have weighed in on MYGN. Raymond James started coverage on shares of Myriad Genetics in a research note on Tuesday, June 15th. They set a “market perform” rating for the company. The Goldman Sachs Group started coverage on shares of Myriad Genetics in a research note on Thursday, June 3rd. They issued a “sell” rating and a $25.00 price target for the company.

In other Myriad Genetics news, insider Jerry S. Lanchbury sold 83,372 shares of Myriad Genetics stock in a transaction that occurred on Friday, June 25th. The shares were sold at an average price of $31.96, for a total transaction of $2,664,569.12. Following the transaction, the insider now owns 287,282 shares of the company’s stock, valued at $9,181,532.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jerry S. Lanchbury sold 6,812 shares of Myriad Genetics stock in a transaction that occurred on Monday, June 28th. The shares were sold at an average price of $32.39, for a total transaction of $220,640.68. Following the transaction, the insider now directly owns 236,523 shares in the company, valued at approximately $7,660,979.97. The disclosure for this sale can be found here. Insiders have sold 437,821 shares of company stock valued at $14,762,881 over the last 90 days. 1.70% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. bought a new position in Myriad Genetics during the second quarter valued at $26,000. FORA Capital LLC purchased a new stake in Myriad Genetics in the second quarter worth about $31,000. Wealthcare Advisory Partners LLC purchased a new stake in Myriad Genetics in the first quarter worth about $37,000. Altshuler Shaham Ltd purchased a new stake in Myriad Genetics in the first quarter worth about $41,000. Finally, Lazard Asset Management LLC purchased a new stake in Myriad Genetics in the second quarter worth about $54,000. 96.11% of the stock is currently owned by institutional investors.

NASDAQ:MYGN traded up $0.74 on Tuesday, reaching $34.00. 8,251 shares of the stock traded hands, compared to its average volume of 646,216. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of -24.28 and a beta of 1.57. Myriad Genetics has a 12 month low of $11.76 and a 12 month high of $36.95. The company’s fifty day simple moving average is $33.42 and its 200 day simple moving average is $30.81.

Myriad Genetics Company Profile

Myriad Genetics, Inc engages in the discovery, development, and marketing of transformative molecular diagnostic test. It operates through the Diagnostics and Other segments. The Diagnostics segment provides testing and collaborative development of testing that is designed to asses an individual’s risk of developing a disease later in life.

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Earnings History and Estimates for Myriad Genetics (NASDAQ:MYGN)

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