Myriad Genetics, Inc. (NASDAQ:MYGN) Expected to Announce Quarterly Sales of $158.58 Million

Analysts expect Myriad Genetics, Inc. (NASDAQ:MYGNGet Rating) to post sales of $158.58 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Myriad Genetics’ earnings, with the lowest sales estimate coming in at $153.90 million and the highest estimate coming in at $163.10 million. Myriad Genetics reported sales of $173.10 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 8.4%. The business is scheduled to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Myriad Genetics will report full-year sales of $681.80 million for the current financial year, with estimates ranging from $678.30 million to $683.77 million. For the next fiscal year, analysts expect that the business will report sales of $737.78 million, with estimates ranging from $725.80 million to $745.30 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:MYGNGet Rating) last posted its quarterly earnings results on Thursday, February 24th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.04. The business had revenue of $160.80 million during the quarter, compared to analysts’ expectations of $162.21 million. Myriad Genetics had a negative net margin of 3.94% and a negative return on equity of 2.93%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.19) EPS.

A number of equities analysts recently weighed in on MYGN shares. The Goldman Sachs Group lowered their price objective on shares of Myriad Genetics from $26.00 to $23.00 and set a “sell” rating for the company in a research report on Tuesday, April 19th. StockNews.com cut shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research report on Wednesday.

In other Myriad Genetics news, insider Jayne B. Hart sold 10,500 shares of the stock in a transaction that occurred on Monday, February 28th. The shares were sold at an average price of $25.00, for a total transaction of $262,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.70% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in MYGN. Rockefeller Capital Management L.P. grew its position in shares of Myriad Genetics by 209.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,238 shares of the company’s stock valued at $39,000 after buying an additional 838 shares during the last quarter. Spire Wealth Management purchased a new position in Myriad Genetics during the 4th quarter worth $48,000. Banque Cantonale Vaudoise purchased a new position in Myriad Genetics during the 3rd quarter worth $65,000. Itau Unibanco Holding S.A. purchased a new position in Myriad Genetics during the 4th quarter worth $81,000. Finally, US Bancorp DE grew its position in Myriad Genetics by 28.6% during the 3rd quarter. US Bancorp DE now owns 3,328 shares of the company’s stock worth $108,000 after purchasing an additional 740 shares during the last quarter. Institutional investors and hedge funds own 98.54% of the company’s stock.

NASDAQ:MYGN opened at $21.97 on Friday. The stock has a market capitalization of $1.77 billion, a P/E ratio of -57.82 and a beta of 1.53. The company has a 50 day moving average price of $24.71 and a 200 day moving average price of $26.81. Myriad Genetics has a fifty-two week low of $21.58 and a fifty-two week high of $36.95.

Myriad Genetics Company Profile (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 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, 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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