Wall Street analysts expect that Myriad Genetics, Inc. (NASDAQ:MYGN) will post sales of $187.82 million for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Myriad Genetics’ earnings, with the highest sales estimate coming in at $189.25 million and the lowest estimate coming in at $187.00 million. Myriad Genetics posted sales of $196.90 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 4.6%. The firm is expected to report its next earnings report on Tuesday, May 1st.
On average, analysts expect that Myriad Genetics will report full year sales of $187.82 million for the current year, with estimates ranging from $765.67 million to $798.40 million. For the next fiscal year, analysts forecast that the company will report sales of $803.09 million per share, with estimates ranging from $780.45 million to $827.57 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Myriad Genetics.
Myriad Genetics (NASDAQ:MYGN) last issued its earnings results on Tuesday, February 6th. The company reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.07. Myriad Genetics had a return on equity of 9.59% and a net margin of 16.67%. The company had revenue of $194.00 million during the quarter, compared to the consensus estimate of $188.72 million. During the same quarter in the prior year, the business earned $0.26 earnings per share. The company’s revenue was down 1.3% compared to the same quarter last year.
In related news, VP Richard M. Marsh sold 37,654 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $40.25, for a total value of $1,515,573.50. Following the transaction, the vice president now owns 157,648 shares in the company, valued at $6,345,332. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Heinrich Dreismann sold 6,000 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $33.50, for a total value of $201,000.00. Following the completion of the transaction, the director now owns 33,743 shares in the company, valued at approximately $1,130,390.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,033 shares of company stock worth $2,583,197. Insiders own 6.70% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. LS Investment Advisors LLC lifted its stake in shares of Myriad Genetics by 88.5% in the fourth quarter. LS Investment Advisors LLC now owns 4,791 shares of the company’s stock worth $165,000 after acquiring an additional 2,250 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in shares of Myriad Genetics by 58.3% in the fourth quarter. Meeder Asset Management Inc. now owns 5,210 shares of the company’s stock worth $179,000 after acquiring an additional 1,918 shares in the last quarter. Commonwealth Equity Services Inc acquired a new position in shares of Myriad Genetics in the third quarter worth about $202,000. Teacher Retirement System of Texas acquired a new position in shares of Myriad Genetics in the third quarter worth about $204,000. Finally, BB&T Securities LLC lifted its stake in shares of Myriad Genetics by 347.7% in the fourth quarter. BB&T Securities LLC now owns 5,990 shares of the company’s stock worth $205,000 after acquiring an additional 4,652 shares in the last quarter.
Shares of Myriad Genetics (NASDAQ MYGN) opened at $32.83 on Wednesday. Myriad Genetics has a 1 year low of $17.50 and a 1 year high of $41.57. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $2,328.81, a PE ratio of 29.25, a PEG ratio of 2.35 and a beta of 0.32.
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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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