Myriad Genetics (MYGN) Issues FY 2019 Earnings Guidance

Myriad Genetics (NASDAQ:MYGN) issued an update on its FY 2019 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.74-1.74 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.71. The company issued revenue guidance of $856-856 million, compared to the consensus revenue estimate of $861.41 million.Myriad Genetics also updated its FY19 guidance to $1.74 EPS.

Shares of NASDAQ:MYGN opened at $24.77 on Friday. The company has a current ratio of 3.15, a quick ratio of 2.86 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $1.78 billion, a PE ratio of 20.64, a PEG ratio of 1.41 and a beta of 0.55. Myriad Genetics has a 1 year low of $23.08 and a 1 year high of $50.44.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.04). The firm had revenue of $216.60 million during the quarter, compared to analyst estimates of $217.76 million. Myriad Genetics had a return on equity of 9.82% and a net margin of 2.62%. The business’s revenue was up 18.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 earnings per share. Research analysts anticipate that Myriad Genetics will post 1.44 EPS for the current fiscal year.

MYGN has been the topic of a number of recent research reports. Zacks Investment Research lowered Myriad Genetics from a buy rating to a hold rating in a research note on Friday, February 1st. BidaskClub raised Myriad Genetics from a hold rating to a buy rating in a research note on Wednesday, February 20th. Needham & Company LLC reissued a strong-buy rating and set a $41.00 price objective (up previously from $37.00) on shares of Myriad Genetics in a research note on Tuesday, March 12th. Finally, ValuEngine lowered Myriad Genetics from a hold rating to a sell rating in a research note on Wednesday, May 8th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of Hold and an average target price of $38.52.

In other news, insider Ralph L. Mcdade sold 1,975 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $31.00, for a total value of $61,225.00. Following the transaction, the insider now owns 122,604 shares of the company’s stock, valued at approximately $3,800,724. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.80% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Myriad Genetics (MYGN) Issues FY 2019 Earnings Guidance” was first posted by Rockland Register and is the property of of Rockland Register. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & international copyright & trademark law. The original version of this story can be accessed at https://rocklandregister.com/2019/06/01/myriad-genetics-mygn-updates-fy-2019-earnings-guidance.html.

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: No Load Funds

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

Receive News & Ratings for Myriad Genetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Myriad Genetics and related companies with MarketBeat.com's FREE daily email newsletter.