Equities research analysts forecast that Myriad Genetics, Inc. (NASDAQ:MYGN) will post earnings per share (EPS) of $0.26 for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Myriad Genetics’ earnings, with estimates ranging from $0.23 to $0.27. Myriad Genetics posted earnings per share of $0.36 in the same quarter last year, which would suggest a negative year over year growth rate of 27.8%. The company is expected to report its next earnings results on Tuesday, August 8th.
According to Zacks, analysts expect that Myriad Genetics will report full year earnings of $1.02 per share for the current fiscal year, with EPS estimates ranging from $0.98 to $1.05. For the next year, analysts anticipate that the business will post earnings of $1.08 per share, with EPS estimates ranging from $0.85 to $1.40. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow Myriad Genetics.
Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings data on Tuesday, May 2nd. The company reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.03. Myriad Genetics had a return on equity of 12.02% and a net margin of 8.08%. The business had revenue of $196.90 million for the quarter, compared to analyst estimates of $188.89 million.
Several research analysts have weighed in on the company. Jefferies Group LLC reiterated a “hold” rating and issued a $21.00 target price (up from $18.00) on shares of Myriad Genetics in a research note on Wednesday, May 3rd. Cowen and Company restated a “market perform” rating and issued a $19.00 price target on shares of Myriad Genetics in a research note on Tuesday, March 28th. Stephens upgraded Myriad Genetics from an “equal weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a research note on Monday, March 13th. Deutsche Bank AG lifted their price target on Myriad Genetics from $15.00 to $20.00 and gave the company a “sell” rating in a research note on Monday, May 8th. Finally, Piper Jaffray Companies lifted their price target on Myriad Genetics to $22.00 in a research note on Wednesday, February 8th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. Myriad Genetics presently has an average rating of “Hold” and a consensus price target of $23.00.
Shares of Myriad Genetics (MYGN) traded up 2.46% on Friday, hitting $21.21. The stock had a trading volume of 742,414 shares. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 45.32 and a beta of 0.26. The firm’s 50-day moving average is $20.28 and its 200-day moving average is $18.30. Myriad Genetics has a one year low of $15.15 and a one year high of $35.35.
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Hedge funds have recently bought and sold shares of the company. Piedmont Investment Advisors LLC increased its stake in Myriad Genetics by 131.7% in the first quarter. Piedmont Investment Advisors LLC now owns 84,513 shares of the company’s stock worth $1,623,000 after buying an additional 48,036 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in Myriad Genetics by 1.2% in the first quarter. Public Employees Retirement System of Ohio now owns 141,556 shares of the company’s stock worth $2,718,000 after buying an additional 1,648 shares during the period. Teachers Retirement System of The State of Kentucky bought a new position in Myriad Genetics during the first quarter worth $453,000. Gotham Asset Management LLC boosted its position in Myriad Genetics by 20.8% in the first quarter. Gotham Asset Management LLC now owns 349,262 shares of the company’s stock worth $6,706,000 after buying an additional 60,220 shares during the period. Finally, Highbridge Capital Management LLC boosted its position in Myriad Genetics by 29.5% in the first quarter. Highbridge Capital Management LLC now owns 36,513 shares of the company’s stock worth $701,000 after buying an additional 8,317 shares during the period.
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.
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