Myriad Genetics (NASDAQ:MYGN) updated its first quarter 2020 earnings guidance on Tuesday. The company provided EPS guidance of $0.30-0.32 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.42. The company issued revenue guidance of $200-202 million, compared to the consensus revenue estimate of $217.35 million.Myriad Genetics also updated its FY 2020 guidance to $1.80-1.90 EPS.
Several research analysts recently issued reports on the company. Bank of America raised Myriad Genetics from an underperform rating to a neutral rating in a research note on Friday, August 2nd. BidaskClub cut Myriad Genetics from a buy rating to a hold rating in a research note on Friday. ValuEngine raised Myriad Genetics from a sell rating to a hold rating in a research note on Thursday, August 1st. Barclays cut Myriad Genetics from an equal weight rating to an underweight rating in a research report on Wednesday. Finally, Cowen cut Myriad Genetics from an outperform rating to a market perform rating and set a $26.64 target price on the stock. in a research report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. Myriad Genetics has an average rating of Hold and a consensus target price of $37.64.
Myriad Genetics stock opened at $23.20 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.15 and a quick ratio of 2.86. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 2.10 and a beta of 0.81. Myriad Genetics has a 1-year low of $22.07 and a 1-year high of $50.44. The business has a fifty day moving average price of $32.08 and a 200-day moving average price of $30.07.
Myriad Genetics (NASDAQ:MYGN) last issued its earnings results on Tuesday, August 13th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.01. The company had revenue of $215.40 million during the quarter, compared to analyst estimates of $221.64 million. Myriad Genetics had a return on equity of 9.10% and a net margin of 0.54%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $0.38 EPS. On average, equities research analysts anticipate that Myriad Genetics will post 1.67 earnings per share for the current fiscal year.
In related news, CFO Richard Bryan Riggsbee sold 25,000 shares of Myriad Genetics stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $41.50, for a total value of $1,037,500.00. Following the sale, the chief financial officer now directly owns 120,566 shares in the company, valued at approximately $5,003,489. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bernard Tobin sold 11,712 shares of Myriad Genetics stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $40.00, for a total value of $468,480.00. Following the completion of the sale, the insider now owns 146,040 shares in the company, valued at $5,841,600. The disclosure for this sale can be found here. Insiders sold a total of 96,712 shares of company stock valued at $4,115,380 in the last 90 days. 5.80% of the stock is currently owned by company insiders.
Myriad Genetics Company Profile
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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