Myriad Genetics (MYGN) Scheduled to Post Quarterly Earnings on Thursday

Myriad Genetics (NASDAQ:MYGN) is scheduled to be issuing its quarterly earnings data after the market closes on Thursday, November 7th. Analysts expect the company to announce earnings of $0.02 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.06. Myriad Genetics had a negative net margin of 19.35% and a negative return on equity of 5.64%. The business had revenue of $211.50 million for the quarter, compared to analysts’ expectations of $206.44 million. During the same quarter in the previous year, the company earned ($0.21) EPS. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. On average, analysts expect Myriad Genetics to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Myriad Genetics Price Performance

NASDAQ:MYGN traded down $0.18 during trading hours on Tuesday, reaching $17.65. The stock had a trading volume of 209,924 shares, compared to its average volume of 721,367. Myriad Genetics has a 52 week low of $15.99 and a 52 week high of $29.30. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.78 and a current ratio of 1.96. The company has a 50 day moving average price of $25.37 and a two-hundred day moving average price of $24.80. The stock has a market capitalization of $1.60 billion, a PE ratio of -9.66 and a beta of 1.93.

Insider Activity at Myriad Genetics

In related news, Director Colleen F. Reitan sold 46,012 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $27.95, for a total transaction of $1,286,035.40. Following the completion of the sale, the director now directly owns 42,533 shares of the company’s stock, valued at approximately $1,188,797.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Colleen F. Reitan sold 46,012 shares of Myriad Genetics stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $27.95, for a total value of $1,286,035.40. Following the completion of the transaction, the director now directly owns 42,533 shares of the company’s stock, valued at approximately $1,188,797.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Heinrich Dreismann sold 10,000 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $27.05, for a total transaction of $270,500.00. Following the transaction, the director now directly owns 121,648 shares of the company’s stock, valued at $3,290,578.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,012 shares of company stock worth $1,900,485. 2.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MYGN has been the topic of several recent research reports. Piper Sandler increased their target price on shares of Myriad Genetics from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Wells Fargo & Company began coverage on Myriad Genetics in a report on Tuesday, August 27th. They issued an “overweight” rating and a $35.00 price target on the stock. TD Cowen upped their price objective on Myriad Genetics from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Scotiabank boosted their target price on shares of Myriad Genetics from $29.00 to $34.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 13th. Finally, Morgan Stanley assumed coverage on shares of Myriad Genetics in a report on Thursday, September 19th. They issued an “equal weight” rating and a $32.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $28.91.

About Myriad Genetics

Myriad Genetics, Inc, a genetic testing and precision medicine company, develops genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and pharmacogenomics. It also provides MyRisk Hereditary Cancer Test, a DNA sequencing test for assessing the risks for hereditary cancers; BRACAnalysis CDx Germline Companion Diagnostic Test, a DNA sequencing test to help determine the therapy for patients with metastatic breast, ovarian, metastatic pancreatic, and metastatic prostate cancer with deleterious or suspected deleterious germline BRCA variants; and MyChoice CDx Companion Diagnostic Test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer.