Myriad Genetics, Inc. (NASDAQ:MYGN) – Stock analysts at Gabelli increased their FY2018 earnings per share estimates for Myriad Genetics in a research report issued to clients and investors on Wednesday. Gabelli analyst S. Wojda now expects that the company will post earnings per share of $1.30 for the year, up from their prior forecast of $1.25. Gabelli also issued estimates for Myriad Genetics’ FY2019 earnings at $1.55 EPS, FY2020 earnings at $1.80 EPS and FY2021 earnings at $2.10 EPS.
Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings results on Tuesday, May 2nd. The company reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.03. The business had revenue of $196.90 million for the quarter, compared to analysts’ expectations of $188.89 million. Myriad Genetics had a return on equity of 12.02% and a net margin of 8.08%.
Other research analysts also recently issued research reports about the stock. Jefferies Group LLC restated a “hold” rating and set a $21.00 price target (up previously from $18.00) on shares of Myriad Genetics in a research report on Wednesday. Cowen and Company restated a “market perform” rating and set a $19.00 price target on shares of Myriad Genetics in a research report on Tuesday, March 28th. Stephens upgraded shares of Myriad Genetics from an “equal weight” rating to an “overweight” rating and set a $20.00 price target for the company in a research report on Monday, March 13th. Piper Jaffray Companies upped their price target on shares of Myriad Genetics to $22.00 in a research report on Wednesday, February 8th. Finally, Ladenburg Thalmann Financial Services upgraded shares of Myriad Genetics from a “sell” rating to a “neutral” rating in a research report on Wednesday, February 8th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. Myriad Genetics presently has an average rating of “Hold” and a consensus price target of $22.58.
Myriad Genetics (NASDAQ:MYGN) traded up 2.10% during midday trading on Thursday, reaching $22.38. The company’s stock had a trading volume of 1,457,308 shares. Myriad Genetics has a one year low of $15.15 and a one year high of $35.65. The stock’s 50 day moving average price is $18.91 and its 200-day moving average price is $17.91. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 25.29 and a beta of 0.26.
In other news, Director John T. Henderson purchased 6,000 shares of the company’s stock in a transaction dated Thursday, February 23rd. The stock was acquired at an average price of $18.66 per share, with a total value of $111,960.00. Following the purchase, the director now directly owns 38,524 shares in the company, valued at approximately $718,857.84. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 6.20% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Camber Capital Management LLC purchased a new stake in Myriad Genetics during the fourth quarter valued at $67,680,000. Scopia Capital Management LP bought a new position in Myriad Genetics during the third quarter worth $75,316,000. Russell Investments Group Ltd. bought a new position in Myriad Genetics during the fourth quarter worth $18,571,000. Norges Bank bought a new position in Myriad Genetics during the fourth quarter worth $14,319,000. Finally, Consonance Capital Management LP bought a new position in Myriad Genetics during the third quarter worth $17,485,000.
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.