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$134.62 Million in Sales Expected for Myriad Genetics, Inc. (NASDAQ:MYGN) This Quarter

Last updated on Friday, September 18, 2020 | 2020 MarketBeat

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.

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

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