Myriad Genetics (MYGN) Releases Q3 Earnings Guidance

Myriad Genetics (NASDAQ:MYGN) updated its third quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.42-0.44 for the period, compared to the Thomson Reuters consensus estimate of $0.42. The company issued revenue guidance of $216.218 million, compared to the consensus revenue estimate of $217.17 million.Myriad Genetics also updated its FY 2019 guidance to $1.70-1.75 EPS.

A number of research firms recently commented on MYGN. Zacks Investment Research downgraded Myriad Genetics from a buy rating to a hold rating in a report on Monday, October 29th. BidaskClub upgraded Myriad Genetics from a sell rating to a hold rating in a report on Tuesday, December 11th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $39.43.

Get Myriad Genetics alerts:

NASDAQ MYGN traded up $0.16 on Tuesday, reaching $27.87. The company had a trading volume of 1,247,900 shares, compared to its average volume of 1,029,204. The company has a market capitalization of $2.01 billion, a PE ratio of 23.23, a P/E/G ratio of 1.74 and a beta of 0.71. The company has a current ratio of 3.17, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23. Myriad Genetics has a 52 week low of $26.80 and a 52 week high of $50.44.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings results on Tuesday, February 5th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.04. Myriad Genetics had a return on equity of 10.07% and a net margin of 7.07%. The company had revenue of $216.80 million during the quarter, compared to the consensus estimate of $217.69 million. During the same period in the prior year, the company earned $0.31 earnings per share. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. As a group, sell-side analysts predict that Myriad Genetics will post 1.5 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Myriad Genetics (MYGN) Releases Q3 Earnings Guidance” was reported by Ticker Report and is the sole property of of Ticker Report. If you are reading this report on another domain, it was illegally copied and republished in violation of U.S. and international copyright & trademark legislation. The correct version of this report can be read at https://www.tickerreport.com/banking-finance/4128676/myriad-genetics-mygn-releases-q3-earnings-guidance.html.

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.

Further Reading: What is the Ex-Dividend Date in Investing?