Myriad Genetics (NASDAQ:MYGN) Announces Earnings Results

Myriad Genetics (NASDAQ:MYGN) announced its quarterly earnings data on Sunday. The company reported ($0.06) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.09, reports. The business 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%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.08) earnings per share.

Shares of NASDAQ:MYGN traded up $1.22 on Tuesday, hitting $31.62. 756,991 shares of the company’s stock were exchanged, compared to its average volume of 760,862. Myriad Genetics has a 1-year low of $10.54 and a 1-year high of $33.97. The company has a market capitalization of $2.43 billion, a PE ratio of -11.69 and a beta of 1.71. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.75 and a current ratio of 2.95. The firm’s 50-day moving average is $29.60 and its 200 day moving average is $23.95.

In other news, insider Jerry S. Lanchbury sold 80,000 shares of the company’s stock in a transaction on Tuesday, February 16th. The shares were sold at an average price of $29.71, for a total value of $2,376,800.00. Following the completion of the transaction, the insider now owns 321,020 shares in the company, valued at approximately $9,537,504.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Nicole Lambert sold 6,649 shares of the stock in a transaction on Monday, April 19th. The shares were sold at an average price of $27.01, for a total transaction of $179,589.49. Following the completion of the transaction, the insider now directly owns 135,009 shares in the company, valued at $3,646,593.09. The disclosure for this sale can be found here. Insiders have sold a total of 184,649 shares of company stock worth $5,555,189 in the last three months. Corporate insiders own 2.80% of the company’s stock.

Separately, SVB Leerink boosted their price target on shares of Myriad Genetics from $20.00 to $33.00 and gave the stock 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.

Further Reading: Gross Domestic Product (GDP)

Earnings History for Myriad Genetics (NASDAQ:MYGN)

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