Equities research analysts predict that Myriad Genetics, Inc. (NASDAQ: MYGN – Get Rating) will announce $ 170.31 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Myriad Genetics’ earnings, with the lowest sales estimate coming in at $ 164.60 million and the highest estimate coming in at $ 176.10 million. Myriad Genetics reported sales of $ 189.40 million in the same quarter last year, which suggests a negative year-over-year growth rate of 10.1%. The firm is expected to report its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that Myriad Genetics will report full year sales of $ 684.89 million for the current financial year, with estimates ranging from $ 678.30 million to $ 693.83 million. For the next financial year, analysts expect that the company will post sales of $ 735.37 million, with estimates ranging from $ 725.80 million to $ 739.80 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Myriad Genetics.
Myriad Genetics (NASDAQ: MYGN – Get Rating) last released its quarterly earnings data on Thursday, May 5th. The company reported ($ 0.14) EPS for the quarter, beating the consensus estimate of ($ 0.15) by $ 0.01. Myriad Genetics had a negative net margin of 1.20% and a negative return on equity of 2.75%. The firm had revenue of $ 164.90 million for the quarter, compared to the consensus estimate of $ 156.09 million. During the same period in the previous year, the company earned ($ 0.16) earnings per share. The company’s quarterly revenue was down 4.7% on a year-over-year basis.
Several equities analysts have commented on MYGN shares. StockNews.com downgraded shares of Myriad Genetics from a “buy” rating to a “hold” rating in a report on Saturday. The Goldman Sachs Group decreased their price objective on shares of Myriad Genetics from $ 26.00 to $ 23.00 and set a “sell” rating on the stock in a report on Tuesday, April 19th.
In related news, insider Jayne B. Hart sold 10,500 shares of the company’s stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $ 25.00, for a total value of $ 262,500.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.80% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of MYGN. GHP Investment Advisors Inc. bought a new stake in Myriad Genetics during the first quarter worth about $ 27,000. Exchange Traded Concepts LLC bought a new stake in Myriad Genetics during the first quarter worth about $ 29,000. Rockefeller Capital Management LP lifted its position in Myriad Genetics by 209.5% during the third quarter. Rockefeller Capital Management LP now owns 1,238 shares of the company’s stock worth $ 39,000 after purchasing an additional 838 shares during the period. Spire Wealth Management bought a new stake in Myriad Genetics during the fourth quarter worth about $ 48,000. Finally, Itau Unibanco Holding SA bought a new stake in Myriad Genetics during the fourth quarter worth about $ 81,000. 97.44% of the stock is owned by institutional investors and hedge funds.
NASDAQ: MYGN opened at $ 22.37 on Friday. Myriad Genetics has a one year low of $ 18.98 and a one year high of $ 36.95. The company has a market cap of $ 1.80 billion, a P / E ratio of -186.42 and a beta of 1.57. The firm’s fifty day moving average price is $ 23.61 and its two-hundred day moving average price is $ 25.65.
About Myriad Genetics (Get Rating)
Myriad Genetics, Inc., a genetic testing and precision medicine company, develops and commercializes genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women’s and mental health applications. It provides MyRisk Hereditary Cancer Test, a DNA sequencing test to assess 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, or 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.
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