Myriad Genetics, Inc. (NASDAQ:MYGN) – Analysts at Jefferies Group dropped their Q2 2018 earnings estimates for Myriad Genetics in a report released on Wednesday. Jefferies Group analyst B. Couillard now anticipates that the company will earn $0.25 per share for the quarter, down from their prior forecast of $0.27. Jefferies Group currently has a “Hold” rating and a $23.00 target price on the stock. Jefferies Group also issued estimates for Myriad Genetics’ Q4 2018 earnings at $0.31 EPS and Q4 2019 earnings at $0.29 EPS.
Several other brokerages also recently weighed in on MYGN. BidaskClub raised shares of Myriad Genetics from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Barclays PLC reduced their price target on shares of Myriad Genetics from $28.00 to $26.00 and set an “equal weight” rating for the company in a research report on Wednesday. Cowen and Company reissued a “hold” rating and set a $25.00 price target on shares of Myriad Genetics in a research report on Friday, July 14th. Deutsche Bank AG raised their price target on shares of Myriad Genetics from $15.00 to $20.00 and gave the company a “sell” rating in a research report on Monday, May 8th. Finally, J P Morgan Chase & Co reissued an “underweight” rating and set a $16.00 price target on shares of Myriad Genetics in a research report on Friday, June 30th. Five analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. Myriad Genetics currently has an average rating of “Hold” and a consensus price target of $22.23.
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Shares of Myriad Genetics (MYGN) traded down 3.25% during mid-day trading on Thursday, reaching $27.07. The company’s stock had a trading volume of 847,917 shares. The company has a 50-day moving average of $25.12 and a 200-day moving average of $20.79. Myriad Genetics has a 12 month low of $15.15 and a 12 month high of $28.39. The company has a market cap of $1.85 billion, a P/E ratio of 84.86 and a beta of 0.31.
Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The firm had revenue of $200.50 million during the quarter, compared to analyst estimates of $193.71 million. Myriad Genetics had a return on equity of 9.80% and a net margin of 2.83%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 EPS.
Several hedge funds and other institutional investors have recently modified their holdings of MYGN. Albert D Mason Inc. boosted its position in shares of Myriad Genetics by 1.5% in the first quarter. Albert D Mason Inc. now owns 16,382 shares of the company’s stock valued at $315,000 after buying an additional 250 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in shares of Myriad Genetics by 1.7% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 21,733 shares of the company’s stock valued at $417,000 after buying an additional 357 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its position in shares of Myriad Genetics by 3.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 16,080 shares of the company’s stock valued at $416,000 after buying an additional 490 shares in the last quarter. Aperio Group LLC boosted its position in shares of Myriad Genetics by 4.6% in the second quarter. Aperio Group LLC now owns 12,129 shares of the company’s stock valued at $313,000 after buying an additional 534 shares in the last quarter. Finally, Creative Planning boosted its position in shares of Myriad Genetics by 11.8% in the first quarter. Creative Planning now owns 6,371 shares of the company’s stock valued at $122,000 after buying an additional 671 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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