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.

Other equities research analysts also recently issued research reports about the stock. ValuEngine raised shares of Myriad Genetics from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. BTIG Research initiated coverage on shares of Myriad Genetics in a research report on Friday, January 5th. They set a “buy” rating and a $41.00 price objective for the company. Stephens set a $45.00 price objective on shares of Myriad Genetics and gave the company a “buy” rating in a research report on Wednesday, January 3rd. Barclays boosted their price objective on shares of Myriad Genetics from $30.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, January 22nd. Finally, Zacks Investment Research downgraded shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 15th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $31.42.

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.

WARNING: “Myriad Genetics, Inc. (MYGN) Forecasted to Post Q3 2018 Earnings of $0.28 Per Share” was posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this report on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The original version of this report can be viewed at https://theolympiareport.com/2018/02/11/myriad-genetics-inc-mygn-forecasted-to-post-q3-2018-earnings-of-0-28-per-share.html.

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.

Earnings History and Estimates for Myriad Genetics (NASDAQ:MYGN)

Receive News & Ratings for Myriad Genetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Myriad Genetics and related companies with MarketBeat.com's FREE daily email newsletter.