Myriad Genetics, Inc. (NASDAQ:MYGN) Expected to Post Earnings of $0.03 Per Share

Wall Street brokerages forecast that Myriad Genetics, Inc. (NASDAQ:MYGNGet Rating) will report $0.03 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Myriad Genetics’ earnings. The highest EPS estimate is $0.04 and the lowest is $0.02. Myriad Genetics reported earnings of $0.12 per share during the same quarter last year, which would indicate a negative year over year growth rate of 75%. The business is expected to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Myriad Genetics will report full-year earnings of $0.09 per share for the current year, with EPS estimates ranging from $0.05 to $0.14. For the next financial year, analysts expect that the company will report earnings of $0.32 per share, with EPS estimates ranging from $0.25 to $0.43. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Myriad Genetics.

Myriad Genetics (NASDAQ:MYGNGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.04. The business had revenue of $164.90 million for the quarter, compared to the consensus estimate of $156.09 million. Myriad Genetics had a negative return on equity of 2.75% and a negative net margin of 1.20%. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.16) earnings per share.

A number of research analysts have weighed in on MYGN shares. StockNews.com upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating in a research report on Friday, May 6th. The Goldman Sachs Group reduced their price objective on shares of Myriad Genetics from $26.00 to $23.00 and set a “sell” rating on the stock in a research report on Tuesday, April 19th.

In other news, insider Jayne B. Hart sold 10,500 shares of the business’s stock in a transaction on Monday, February 28th. The stock was sold at an average price of $25.00, for a total value of $262,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.80% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Myriad Genetics by 0.8% in the first quarter. BlackRock Inc. now owns 14,797,829 shares of the company’s stock valued at $372,906,000 after acquiring an additional 113,042 shares in the last quarter. Earnest Partners LLC grew its stake in Myriad Genetics by 1.0% during the 4th quarter. Earnest Partners LLC now owns 6,316,365 shares of the company’s stock worth $174,332,000 after buying an additional 64,554 shares during the last quarter. State Street Corp increased its position in Myriad Genetics by 2.7% during the 4th quarter. State Street Corp now owns 4,410,403 shares of the company’s stock valued at $121,727,000 after buying an additional 115,570 shares in the last quarter. Wellington Management Group LLP raised its stake in Myriad Genetics by 225.4% in the third quarter. Wellington Management Group LLP now owns 3,231,212 shares of the company’s stock valued at $104,336,000 after buying an additional 2,238,076 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its holdings in Myriad Genetics by 48.8% in the third quarter. Artisan Partners Limited Partnership now owns 1,657,111 shares of the company’s stock worth $53,508,000 after acquiring an additional 543,512 shares in the last quarter. Hedge funds and other institutional investors own 97.44% of the company’s stock.

NASDAQ:MYGN opened at $20.88 on Friday. The stock’s fifty day moving average is $23.65 and its 200 day moving average is $25.83. Myriad Genetics has a fifty-two week low of $18.98 and a fifty-two week high of $36.95.

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 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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