Myriad Genetics, Inc. (NASDAQ:MYGN) – Analysts at Jefferies Group decreased their Q2 2018 earnings per share estimates for shares of Myriad Genetics in a research report issued on Wednesday. Jefferies Group analyst B. Couillard now expects that the company will earn $0.23 per share for the quarter, down from their previous forecast of $0.25. Jefferies Group has a “Hold” rating and a $23.00 price objective on the stock. Jefferies Group also issued estimates for Myriad Genetics’ Q3 2018 earnings at $0.24 EPS, Q4 2018 earnings at $0.30 EPS, Q1 2019 earnings at $0.27 EPS, Q4 2019 earnings at $0.31 EPS and FY2019 earnings at $1.15 EPS.
Several other research firms have also commented on MYGN. Morgan Stanley reaffirmed an “underweight” rating and set a $24.00 price target (up previously from $17.00) on shares of Myriad Genetics in a research report on Friday, October 6th. Leerink Swann reaffirmed a “market perform” rating and set a $31.00 price target on shares of Myriad Genetics in a research report on Monday, October 2nd. Zacks Investment Research raised shares of Myriad Genetics from a “hold” rating to a “strong-buy” rating and set a $42.00 price target for the company in a research report on Tuesday, October 17th. Stephens reaffirmed an “overweight” rating and set a $40.00 price target (up previously from $36.00) on shares of Myriad Genetics in a research report on Friday, September 22nd. Finally, Cowen and Company reaffirmed a “hold” rating and set a $25.00 price target on shares of Myriad Genetics in a research report on Sunday, September 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Myriad Genetics currently has an average rating of “Hold” and a consensus target price of $28.10.
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Myriad Genetics (NASDAQ:MYGN) traded up $0.46 during midday trading on Thursday, hitting $31.55. 809,088 shares of the stock traded hands, compared to its average volume of 1,217,123. Myriad Genetics has a 12-month low of $15.15 and a 12-month high of $37.30. The stock has a market cap of $2,152.70, a price-to-earnings ratio of 28.52, a P/E/G ratio of 2.00 and a beta of 0.24. The company has a quick ratio of 1.26, a current ratio of 2.34 and a debt-to-equity ratio of 0.09.
Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings results on Tuesday, November 7th. The company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.05. Myriad Genetics had a net margin of 13.28% and a return on equity of 9.54%. The firm had revenue of $190.20 million during the quarter, compared to analyst estimates of $183.52 million. During the same quarter in the prior year, the firm earned $0.23 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year.
In other Myriad Genetics news, Director John T. Henderson sold 30,000 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $30.30, for a total transaction of $909,000.00. Following the completion of the sale, the director now directly owns 52,524 shares of the company’s stock, valued at approximately $1,591,477.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 6.70% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in MYGN. BlackRock Inc. grew its holdings in Myriad Genetics by 168,335.7% during the 1st quarter. BlackRock Inc. now owns 9,541,884 shares of the company’s stock valued at $183,203,000 after buying an additional 9,536,219 shares in the last quarter. Thrivent Financial For Lutherans grew its holdings in Myriad Genetics by 7,026.7% during the 2nd quarter. Thrivent Financial For Lutherans now owns 2,742,340 shares of the company’s stock valued at $70,862,000 after buying an additional 2,703,860 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Myriad Genetics by 59.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,642,820 shares of the company’s stock valued at $50,742,000 after buying an additional 987,966 shares in the last quarter. Vanguard Group Inc. grew its holdings in Myriad Genetics by 16.8% during the 1st quarter. Vanguard Group Inc. now owns 6,251,030 shares of the company’s stock valued at $120,020,000 after buying an additional 897,287 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Myriad Genetics by 98.2% during the 3rd quarter. Wells Fargo & Company MN now owns 844,339 shares of the company’s stock valued at $30,548,000 after buying an additional 418,335 shares in the last quarter.
Myriad Genetics Company Profile
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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