Myriad Genetics (NASDAQ:MYGN) Issues Quarterly Earnings Results

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Myriad Genetics (NASDAQ:MYGN) announced its quarterly earnings results on Sunday. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.09, 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 net margin of 32.49% and a negative return on equity of 4.07%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.08) earnings per share.

NASDAQ MYGN traded up $1.01 during trading hours on Tuesday, hitting $31.41. The company’s stock had a trading volume of 39,508 shares, compared to its average volume of 760,903. Myriad Genetics has a 52 week low of $10.54 and a 52 week high of $33.97. The company’s 50-day simple moving average is $29.60 and its two-hundred day simple moving average is $23.95. The company has a current ratio of 2.95, a quick ratio of 2.75 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $2.42 billion, a PE ratio of -11.69 and a beta of 1.71.

In related news, insider Jerry S. Lanchbury sold 80,000 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 321,020 shares in the company, valued at $9,537,504.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jerry S. Lanchbury sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 27th. The stock was sold at an average price of $31.47, for a total transaction of $1,258,800.00. Following the completion of the sale, 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. In the last three months, insiders have sold 184,649 shares of company stock worth $5,555,189. Insiders own 2.80% of the company’s stock.

Separately, SVB Leerink increased their price objective on 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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