FY2018 Earnings Estimate for Myriad Genetics, Inc. Issued By Leerink Swann (MYGN)
Myriad Genetics, Inc. (NASDAQ:MYGN) – Leerink Swann lifted their FY2018 EPS estimates for shares of Myriad Genetics in a report issued on Wednesday. Leerink Swann analyst P. Souda now expects that the company will post earnings of $1.14 per share for the year, up from their prior estimate of $1.04. Leerink Swann currently has a “Market Perform” rating and a $35.00 target price on the stock. Leerink Swann also issued estimates for Myriad Genetics’ Q1 2019 earnings at $0.29 EPS, Q2 2019 earnings at $0.29 EPS, Q3 2019 earnings at $0.30 EPS, Q4 2019 earnings at $0.33 EPS and FY2019 earnings at $1.20 EPS.
Several other brokerages have also recently issued reports on MYGN. BTIG Research started coverage on shares of Myriad Genetics in a report on Friday, January 5th. They set a “buy” rating and a $41.00 target price on the stock. ValuEngine upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Barclays restated a “hold” rating and issued a $30.00 price target on shares of Myriad Genetics in a report on Monday, January 8th. Deutsche Bank raised their price target on shares of Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a report on Wednesday, November 8th. Finally, Zacks Investment Research cut shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a report on Friday, December 15th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $31.42.
Myriad Genetics (NASDAQ:MYGN) last issued its earnings results on Tuesday, February 6th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.07. Myriad Genetics had a net margin of 16.67% and a return on equity of 9.59%. The company had revenue of $194.00 million for the quarter, compared to analysts’ expectations of $188.72 million. During the same period in the prior year, the business earned $0.26 EPS. The firm’s quarterly revenue was down 1.3% on a year-over-year basis.
In related news, Director Walter Phd Gilbert sold 7,500 shares of Myriad Genetics stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $33.19, for a total value of $248,925.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Richard M. Marsh sold 37,654 shares of Myriad Genetics stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $40.25, for a total transaction of $1,515,573.50. Following the completion of the sale, the vice president now owns 157,648 shares of the company’s stock, valued at $6,345,332. The disclosure for this sale can be found here. Insiders sold a total of 71,064 shares of company stock worth $2,679,097 over the last 90 days. Company insiders own 6.70% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in MYGN. Meeder Asset Management Inc. boosted its stake in Myriad Genetics by 1,067.4% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,292 shares of the company’s stock worth $119,000 after purchasing an additional 3,010 shares in the last quarter. LS Investment Advisors LLC boosted its stake in Myriad Genetics by 88.5% in the 4th quarter. LS Investment Advisors LLC now owns 4,791 shares of the company’s stock worth $165,000 after purchasing an additional 2,250 shares in the last quarter. Tiedemann Wealth Management LLC boosted its stake in Myriad Genetics by 67.0% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 13,650 shares of the company’s stock worth $185,000 after purchasing an additional 5,475 shares in the last quarter. Commonwealth Equity Services Inc acquired a new stake in Myriad Genetics in the 3rd quarter worth approximately $202,000. Finally, Teacher Retirement System of Texas acquired a new stake in Myriad Genetics in the 3rd quarter worth approximately $204,000.
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About Myriad Genetics
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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