Analysts expect that Myriad Genetics, Inc. (NASDAQ:MYGN) will announce sales of $164.35 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Myriad Genetics’ earnings, with the lowest sales estimate coming in at $156.77 million and the highest estimate coming in at $172.70 million. Myriad Genetics reported sales of $145.20 million during the same quarter last year, which indicates a positive year-over-year growth rate of 13.2%. The business is expected to report its next quarterly earnings report on Monday, November 8th.
On average, analysts expect that Myriad Genetics will report full year sales of $689.90 million for the current financial year, with estimates ranging from $678.68 million to $705.40 million. For the next year, analysts expect that the business will report sales of $677.62 million, with estimates ranging from $672.23 million to $680.30 million. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Myriad Genetics.
Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings data on Tuesday, August 3rd. The company reported $0.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.21. Myriad Genetics had a negative return on equity of 4.29% and a negative net margin of 15.64%. The company had revenue of $189.40 million during the quarter, compared to the consensus estimate of $163.09 million. During the same period last year, the company earned ($0.31) earnings per share. The firm’s revenue was up 103.2% compared to the same quarter last year.
Shares of MYGN traded up $0.07 during mid-day trading on Wednesday, reaching $31.71. 285,497 shares of the company were exchanged, compared to its average volume of 618,488. The stock has a market capitalization of $2.48 billion, a PE ratio of -22.96 and a beta of 1.57. The business has a 50 day simple moving average of $33.59 and a two-hundred day simple moving average of $31.07. Myriad Genetics has a 52 week low of $11.78 and a 52 week high of $36.95.
In other Myriad Genetics news, insider Nicole Lambert sold 945 shares of the firm’s stock in a transaction that occurred on Friday, August 27th. The stock was sold at an average price of $34.50, for a total value of $32,602.50. Following the completion of the sale, the insider now owns 127,051 shares of the company’s stock, valued at $4,383,259.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jerry S. Lanchbury sold 28,225 shares of Myriad Genetics stock in a transaction that occurred on Thursday, August 5th. The shares were sold at an average price of $35.57, for a total value of $1,003,963.25. Following the transaction, the insider now directly owns 260,775 shares in the company, valued at approximately $9,275,766.75. The disclosure for this sale can be found here. Insiders sold 301,212 shares of company stock valued at $10,404,146 in the last three months. Insiders own 1.70% of the company’s stock.
A number of hedge funds have recently bought and sold shares of MYGN. PFM Health Sciences LP purchased a new position in Myriad Genetics in the first quarter worth $82,782,000. Artisan Partners Limited Partnership bought a new stake in shares of Myriad Genetics in the second quarter valued at $34,054,000. Goldman Sachs Group Inc. raised its stake in shares of Myriad Genetics by 65.7% in the second quarter. Goldman Sachs Group Inc. now owns 2,214,690 shares of the company’s stock valued at $67,725,000 after buying an additional 878,159 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Myriad Genetics by 182.8% in the second quarter. JPMorgan Chase & Co. now owns 793,332 shares of the company’s stock valued at $24,259,000 after buying an additional 512,766 shares during the period. Finally, Earnest Partners LLC raised its stake in shares of Myriad Genetics by 6.7% in the first quarter. Earnest Partners LLC now owns 7,185,350 shares of the company’s stock valued at $218,794,000 after buying an additional 453,921 shares during the period. 96.11% of the stock is currently owned by institutional investors and hedge funds.
About Myriad Genetics
Myriad Genetics, Inc engages in the discovery, development, and marketing of transformative molecular diagnostic test. It operates through the Diagnostics and Other segments. The Diagnostics segment provides testing and collaborative development of testing that is designed to asses an individual’s risk of developing a disease later in life.
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