Myriad Genetics (NASDAQ:MYGN) Releases Earnings Results, Beats Estimates By $0.09 EPS


Share on StockTwits

Myriad Genetics (NASDAQ:MYGN) issued its quarterly earnings results on Sunday. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.09, Briefing.com reports. The company had revenue of $173.10 million during the quarter, compared to the consensus estimate of $155.36 million. Myriad Genetics had a negative return on equity of 4.07% and a negative net margin of 32.49%. Myriad Genetics’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the company earned ($0.08) earnings per share.

MYGN traded up $1.22 during trading on Tuesday, reaching $31.62. The company had a trading volume of 757,538 shares, compared to its average volume of 760,862. The stock has a market cap of $2.43 billion, a P/E ratio of -11.69 and a beta of 1.71. The business has a 50 day simple moving average of $29.60 and a 200-day simple moving average of $23.95. Myriad Genetics has a 52 week low of $10.54 and a 52 week high of $33.97. The company has a quick ratio of 2.75, a current ratio of 2.95 and a debt-to-equity ratio of 0.25.

In other Myriad Genetics news, insider Jerry S. Lanchbury sold 40,000 shares of the stock in a transaction on Tuesday, April 27th. The stock was sold at an average price of $31.47, for a total value of $1,258,800.00. Following the sale, the insider now owns 305,922 shares in the company, valued at $9,627,365.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jayne B. Hart sold 58,000 shares of the stock in a transaction on Monday, March 29th. The stock was sold at an average price of $30.00, for a total value of $1,740,000.00. Following the completion of the sale, the insider now owns 108,128 shares in the company, valued at approximately $3,243,840. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 184,649 shares of company stock valued at $5,555,189. 2.80% of the stock is owned by corporate insiders.

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

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.

Recommended Story: Why are trading ranges significant?

Earnings History 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.