Myriad Genetics (NASDAQ:MYGN) Posts Earnings Results, Beats Expectations By $0.09 EPS


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Myriad Genetics (NASDAQ:MYGN) released its earnings results on Sunday. The company reported ($0.06) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.09, Briefing.com reports. The company had revenue of $173.10 million for the quarter, compared to analyst estimates of $155.36 million. Myriad Genetics had a negative net margin of 32.49% and a negative return on equity of 4.07%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.08) EPS.

Shares of NASDAQ MYGN traded up $1.22 during mid-day trading on Tuesday, hitting $31.62. The stock had a trading volume of 756,991 shares, compared to its average volume of 760,862. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.75 and a current ratio of 2.95. Myriad Genetics has a 1 year low of $10.54 and a 1 year high of $33.97. The business has a 50 day moving average price of $29.58 and a two-hundred day moving average price of $24.03. The firm has a market cap of $2.43 billion, a P/E ratio of -12.16 and a beta of 1.71.

Separately, SVB Leerink raised their price objective on Myriad Genetics from $20.00 to $33.00 and gave the company a “market perform” rating in a research note on Tuesday, March 2nd.

In related news, insider Nicole Lambert sold 6,649 shares of the firm’s stock in a transaction dated Monday, April 19th. The stock was sold at an average price of $27.01, for a total value of $179,589.49. Following the sale, the insider now directly owns 135,009 shares of the company’s stock, valued at $3,646,593.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jerry S. Lanchbury sold 40,000 shares of the business’s stock in a transaction dated Tuesday, April 27th. The shares were sold at an average price of $31.47, for a total value of $1,258,800.00. Following the transaction, the insider now owns 305,922 shares in the company, valued at approximately $9,627,365.34. The disclosure for this sale can be found here. Insiders have sold a total of 184,649 shares of company stock valued at $5,555,189 over the last quarter. 2.80% of the stock is currently owned by company insiders.

Myriad Genetics Company Profile

Myriad Genetics, Inc, a molecular diagnostic company, develops and markets predictive, personalized, and prognostic medicine tests in the United States and internationally. The company offers 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; and riskScore, a personalized medicine tool.

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Earnings History for Myriad Genetics (NASDAQ:MYGN)

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