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

Myriad Genetics (NASDAQ:MYGN) announced its earnings results on Sunday. The company reported ($0.06) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.09, Briefing.com reports. Myriad Genetics had a negative net margin of 32.49% and a negative return on equity of 4.07%. The firm had revenue of $173.10 million for the quarter, compared to analysts’ expectations of $155.36 million. During the same quarter in the previous year, the business posted ($0.08) EPS. The company’s quarterly revenue was up 5.5% on a year-over-year basis.

Myriad Genetics stock traded up $1.22 during mid-day trading on Tuesday, reaching $31.62. The stock had a trading volume of 757,538 shares, compared to its average volume of 760,862. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of -11.69 and a beta of 1.71. The company has a 50-day moving average price of $29.60 and a two-hundred day moving average price of $23.95. Myriad Genetics has a one year low of $10.54 and a one year high of $33.97. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.95 and a quick ratio of 2.75.

In other Myriad Genetics news, insider Jerry S. Lanchbury sold 40,000 shares of the company’s stock in a transaction dated Tuesday, April 27th. The shares were sold at an average price of $31.47, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jerry S. Lanchbury sold 80,000 shares of the company’s stock in a transaction dated Tuesday, February 16th. The shares were sold at an average price of $29.71, for a total transaction of $2,376,800.00. Following the transaction, the insider now owns 321,020 shares in the company, valued at approximately $9,537,504.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 184,649 shares of company stock worth $5,555,189. 2.80% of the stock is currently owned by company insiders.

Separately, SVB Leerink boosted their target price on shares of Myriad Genetics from $20.00 to $33.00 and gave the company a “market perform” rating in a 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.

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Earnings History for Myriad Genetics (NASDAQ:MYGN)

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