Myriad Genetics, Inc. (MYGN) Forecasted to Post Q3 2018 Earnings of $0.28 Per Share
Myriad Genetics, Inc. (NASDAQ:MYGN) – Analysts at Jefferies Group increased their Q3 2018 earnings per share estimates for shares of Myriad Genetics in a note issued to investors on Wednesday. Jefferies Group analyst B. Couillard now forecasts that the company will post earnings of $0.28 per share for the quarter, up from their prior forecast of $0.24. Jefferies Group also issued estimates for Myriad Genetics’ FY2018 earnings at $1.15 EPS.
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, beating analysts’ consensus estimates of $0.24 by $0.07. The business had revenue of $194.00 million for the quarter, compared to analyst estimates of $188.72 million. Myriad Genetics had a net margin of 16.67% and a return on equity of 9.59%. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.26 EPS.
Shares of Myriad Genetics (NASDAQ:MYGN) opened at $32.96 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.06 and a current ratio of 2.05. Myriad Genetics has a 1 year low of $15.71 and a 1 year high of $41.57. The firm has a market cap of $2,278.52, a PE ratio of 17.82, a P/E/G ratio of 2.41 and a beta of 0.32.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its position in Myriad Genetics by 1.5% in the 4th quarter. BlackRock Inc. now owns 10,066,753 shares of the company’s stock worth $345,743,000 after purchasing an additional 150,003 shares during the last quarter. Vanguard Group Inc. grew its position in Myriad Genetics by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 6,307,738 shares of the company’s stock worth $162,992,000 after purchasing an additional 56,708 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Myriad Genetics by 4.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,580,081 shares of the company’s stock worth $129,527,000 after purchasing an additional 149,865 shares during the last quarter. Acadian Asset Management LLC grew its position in Myriad Genetics by 18.4% in the 4th quarter. Acadian Asset Management LLC now owns 2,205,297 shares of the company’s stock worth $75,743,000 after purchasing an additional 343,196 shares during the last quarter. Finally, Northern Trust Corp grew its position in Myriad Genetics by 31.1% in the 2nd quarter. Northern Trust Corp now owns 1,292,588 shares of the company’s stock worth $33,400,000 after purchasing an additional 306,276 shares during the last quarter.
In other Myriad Genetics news, VP Richard M. Marsh sold 37,654 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $40.25, for a total value of $1,515,573.50. Following the completion of the transaction, the vice president now owns 157,648 shares in the company, valued at approximately $6,345,332. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Alexander Ford sold 3,031 shares of the company’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $31.64, for a total transaction of $95,900.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,064 shares of company stock valued at $2,679,097. 6.70% of the stock is owned by insiders.
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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