Analysts predict that Myriad Genetics, Inc. (NASDAQ:MYGN) will post sales of $134.62 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Myriad Genetics' earnings. The highest sales estimate is $142.00 million and the lowest is $129.60 million. Myriad Genetics reported sales of $186.30 million in the same quarter last year, which would suggest a negative year over year growth rate of 27.7%. The firm is expected to issue its next earnings report on Monday, November 2nd.
On average, analysts expect that Myriad Genetics will report full-year sales of $678.17 million for the current financial year, with estimates ranging from $647.05 million to $697.96 million. For the next year, analysts expect that the firm will report sales of $740.89 million, with estimates ranging from $723.12 million to $771.02 million. Zacks Investment Research's sales calculations are an average based on a survey of research firms that cover Myriad Genetics.
Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.16. Myriad Genetics had a negative return on equity of 2.69% and a negative net margin of 31.24%. During the same period in the previous year, the business posted $0.41 earnings per share.
MYGN has been the subject of a number of research reports. BidaskClub upgraded Myriad Genetics from a "sell" rating to a "hold" rating in a report on Thursday, September 10th. ValuEngine upgraded Myriad Genetics from a "buy" rating to a "strong-buy" rating in a report on Tuesday, September 1st. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Myriad Genetics in a report on Friday, August 14th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a strong buy rating to the company's stock. The stock currently has an average rating of "Hold" and an average price target of $18.75.
In related news, COO Alexander Ford sold 2,804 shares of the business's stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $13.78, for a total transaction of $38,639.12. Following the transaction, the chief operating officer now directly owns 151,159 shares of the company's stock, valued at approximately $2,082,971.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.90% of the company's stock.
Several institutional investors and hedge funds have recently made changes to their positions in MYGN. Fifth Third Bancorp acquired a new position in shares of Myriad Genetics in the 1st quarter valued at approximately $47,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Myriad Genetics by 25.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,631 shares of the company's stock valued at $75,000 after purchasing an additional 1,326 shares in the last quarter. King Wealth acquired a new position in shares of Myriad Genetics in the 2nd quarter valued at approximately $113,000. AlphaCrest Capital Management LLC acquired a new position in shares of Myriad Genetics in the 2nd quarter valued at approximately $117,000. Finally, Bank of Montreal Can raised its position in shares of Myriad Genetics by 367.0% in the 2nd quarter. Bank of Montreal Can now owns 10,578 shares of the company's stock valued at $121,000 after purchasing an additional 8,313 shares in the last quarter. 97.26% of the stock is currently owned by institutional investors.
Shares of NASDAQ:MYGN opened at $12.54 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.06 and a current ratio of 2.26. Myriad Genetics has a 1 year low of $9.24 and a 1 year high of $35.29. The stock has a market capitalization of $936.85 million, a P/E ratio of -4.68 and a beta of 1.44. The stock has a 50-day simple moving average of $13.10 and a 200-day simple moving average of $13.65.
About Myriad Genetics
Myriad Genetics, Inc, a molecular diagnostic company, focuses on developing and marketing novel predictive medicine, personalized medicine, and prognostic medicine tests worldwide. The company offers molecular diagnostic tests, including myRisk Hereditary Cancer, a DNA sequencing test for hereditary cancers; BRACAnalysis, a DNA sequencing test to assess the risk of developing breast and ovarian cancer; BRACAnalysis CDx, a DNA sequencing test for use as a companion diagnostic with the platinum based chemotherapy agents and poly ADP ribose inhibitor Lynparza; riskScore, a clinically validated personalized medicine tool; GeneSight, a DNA genotyping test to optimize psychotropic drug selection for neuroscience patients; and Tumor BRACAnalysis CDx, a DNA sequencing test that is designed to be utilized to predict response to DNA damaging agents.
Further Reading: What Is An Exchange-Traded Fund (ETF)?
Get a free copy of the Zacks research report on Myriad Genetics (MYGN)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Top Ten Brokerages You Can Trust
There are more than 500 brokerages and research houses that hire analysts to issue ratings and recommendations. Collectively, these brokerages and their analysts publish approximately 175,000 ratings each year. Every trading day, there are nearly 700 reports and recommendations that are released to the public. To say that it's difficult to separate the signal from the noise when interpreting this data would be an understatement.
MarketBeat has developed a system to track each brokerage and research house's stock recommendations and score them based on their past performance. If Goldman Sachs predicted that Apple's stock price was going to hit $150.00 on a specific date, how accurate were they? If Bank of America issued a "strong buy" rating on a stock, how did that stock perform compared to the broader market over the following twelve months. This tracking system has been applied to the 650,000+ ratings that MarketBeat has tracked during the last five years to identify which brokerages you can really trust (and which you can safely ignore).
This slide show lists the 10 brokerages who have issued the most accurate analyst recommendations over the past several years, as measured by the performance of their "buy" ratings and the accuracy of their price targets.
View the "Top Ten Brokerages You Can Trust".