Myriad Genetics (NASDAQ:MYGN) released its quarterly earnings data on Tuesday. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05, MarketWatch Earnings reports. Myriad Genetics had a net margin of 17.67% and a return on equity of 9.52%. The firm had revenue of $200.90 million for the quarter, compared to analysts’ expectations of $195.93 million. During the same quarter in the previous year, the company earned $0.30 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. Myriad Genetics updated its Q1 guidance to $0.28-0.30 EPS and its FY19 guidance to $1.70-1.75 EPS.
MYGN stock opened at $42.84 on Wednesday. Myriad Genetics has a 12-month low of $27.23 and a 12-month high of $44.87. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 35.31, a PEG ratio of 2.83 and a beta of 0.49. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.16 and a current ratio of 3.52.
A number of equities analysts have issued reports on MYGN shares. TheStreet upgraded shares of Myriad Genetics from a “c+” rating to a “b” rating in a research report on Monday, June 4th. BidaskClub cut shares of Myriad Genetics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. ValuEngine cut shares of Myriad Genetics from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 21st. BTIG Research set a $42.00 price objective on shares of Myriad Genetics and gave the company a “buy” rating in a research report on Tuesday, May 8th. Finally, Morgan Stanley boosted their price objective on shares of Myriad Genetics from $33.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 9th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $36.40.
In related news, Director Dennis Langer sold 49,631 shares of the business’s stock in a transaction dated Tuesday, June 5th. The shares were sold at an average price of $39.30, for a total transaction of $1,950,498.30. Following the transaction, the director now owns 69,743 shares in the company, valued at $2,740,899.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Richard M. Marsh sold 33,139 shares of the business’s stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $38.00, for a total transaction of $1,259,282.00. Following the transaction, the vice president now owns 156,908 shares in the company, valued at approximately $5,962,504. The disclosure for this sale can be found here. Insiders have sold 496,811 shares of company stock worth $19,897,716 in the last quarter. 6.70% of the stock is owned by corporate insiders.
Myriad Genetics Company Profile
Myriad Genetics, Inc, a molecular diagnostic company, focuses on developing and marketing novel predictive medicine, personalized medicine, and prognostic medicine tests worldwide. The company offers molecular diagnostic tests, including myRisk Hereditary Cancer, a DNA sequencing test for hereditary cancers; BRACAnalysis, a DNA sequencing test to assess the risk of developing breast and ovarian cancer; BART, a DNA sequencing test for hereditary breast and ovarian cancer; BRACAnalysis CDx, a DNA sequencing test for use as a companion diagnostic with the platinum based chemotherapy agents and poly ADP ribose inhibitor Lynparza; and Tumor BRACAnalysis CDx, a DNA sequencing test that is designed to be utilized to predict response to DNA damaging agents.
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