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.

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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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