Wall Street brokerages predict that Myriad Genetics, Inc. (NASDAQ:MYGN – Get Rating) will announce $160.76 million in sales for the current quarter, Zacks reports. Four analysts have provided estimates for Myriad Genetics’ earnings. The highest sales estimate is $163.10 million and the lowest is $157.90 million. Myriad Genetics reported sales of $173.10 million during the same quarter last year, which indicates a negative year over year growth rate of 7.1%. The company is expected to issue its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that Myriad Genetics will report full-year sales of $683.23 million for the current financial year, with estimates ranging from $678.30 million to $688.00 million. For the next financial year, analysts expect that the business will report sales of $737.75 million, with estimates ranging from $725.80 million to $745.20 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Myriad Genetics.
Myriad Genetics (NASDAQ:MYGN – Get Rating) last issued its quarterly earnings results on Thursday, February 24th. The company reported ($0.11) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.04. Myriad Genetics had a negative net margin of 3.94% and a negative return on equity of 2.93%. The firm had revenue of $160.80 million for the quarter, compared to analyst estimates of $162.21 million. During the same quarter in the prior year, the firm earned ($0.19) EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year.
Separately, StockNews.com assumed coverage on shares of Myriad Genetics in a research report on Thursday, March 31st. They set a “hold” rating for the company.
In other Myriad Genetics news, insider Jayne B. Hart sold 10,500 shares of the stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.70% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Myriad Genetics by 8.3% in the 4th quarter. BlackRock Inc. now owns 14,684,787 shares of the company’s stock valued at $405,301,000 after purchasing an additional 1,123,482 shares during the last quarter. Earnest Partners LLC raised its position in shares of Myriad Genetics by 1.0% in the 4th quarter. Earnest Partners LLC now owns 6,316,365 shares of the company’s stock valued at $174,332,000 after purchasing an additional 64,554 shares during the last quarter. State Street Corp increased its holdings in Myriad Genetics by 2.7% in the 4th quarter. State Street Corp now owns 4,410,403 shares of the company’s stock worth $121,727,000 after buying an additional 115,570 shares during the period. Wellington Management Group LLP increased its holdings in Myriad Genetics by 225.4% in the 3rd quarter. Wellington Management Group LLP now owns 3,231,212 shares of the company’s stock worth $104,336,000 after buying an additional 2,238,076 shares during the period. Finally, Artisan Partners Limited Partnership increased its holdings in Myriad Genetics by 48.8% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,657,111 shares of the company’s stock worth $53,508,000 after buying an additional 543,512 shares during the period. 98.54% of the stock is owned by hedge funds and other institutional investors.
Shares of MYGN stock traded down $0.30 on Friday, hitting $23.54. 408,537 shares of the company’s stock traded hands, compared to its average volume of 578,940. Myriad Genetics has a one year low of $22.35 and a one year high of $36.95. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of -61.95 and a beta of 1.53. The company’s fifty day simple moving average is $25.22 and its 200 day simple moving average is $27.35.
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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