Myriad Genetics, Inc. (NASDAQ:MYGN) Releases FY18 Earnings Guidance

Myriad Genetics, Inc. (NASDAQ:MYGN) updated its FY18 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.00-1.05 for the period, compared to the Thomson Reuters consensus estimate of $1.08. The company issued revenue guidance of $750-770 million, compared to the consensus revenue estimate of $789.30 million.Myriad Genetics also updated its Q1 guidance to $0.19-0.21 EPS.

Several equities research analysts recently weighed in on the company. Jefferies Group LLC reaffirmed a hold rating and issued a $21.00 price target (up from $18.00) on shares of Myriad Genetics in a research note on Wednesday, May 3rd. BidaskClub cut Myriad Genetics from a strong-buy rating to a buy rating in a research note on Wednesday, July 19th. Barclays PLC cut their target price on Myriad Genetics from $28.00 to $26.00 and set an equal weight rating on the stock in a research note on Wednesday, August 9th. Zacks Investment Research raised Myriad Genetics from a hold rating to a buy rating and set a $28.00 target price on the stock in a research note on Monday, July 17th. Finally, Piper Jaffray Companies reaffirmed a hold rating and set a $22.00 price objective on shares of Myriad Genetics in a research report on Friday, July 14th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $21.22.

Myriad Genetics, Inc. (NASDAQ:MYGN) traded up 3.37% on Friday, hitting $28.80. The stock had a trading volume of 1,315,637 shares. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 90.28 and a beta of 0.31. The company has a 50 day moving average price of $25.48 and a 200-day moving average price of $21.36. Myriad Genetics, Inc. has a 52-week low of $15.15 and a 52-week high of $29.01.

Myriad Genetics (NASDAQ:MYGN) last announced its earnings results on Tuesday, August 8th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. Myriad Genetics had a return on equity of 9.67% and a net margin of 2.83%. The business had revenue of $200.50 million during the quarter, compared to analysts’ expectations of $193.71 million. During the same quarter in the prior year, the firm earned $0.36 earnings per share. The business’s revenue was up 7.5% compared to the same quarter last year. On average, equities research analysts predict that Myriad Genetics, Inc. will post $1.02 earnings per share for the current year.

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Myriad Genetics Company Profile

Myriad Genetics, Inc is a molecular diagnostic company. The Company is engaged in the discovery, development and marketing of transformative molecular diagnostic tests. The Company operates through two segments: diagnostics and other. The diagnostics segment provides testing and collaborative development of testing that is designed to assess an individual’s risk for developing disease later in life, identify a patient’s likelihood of responding to drug therapy and guide a patient’s dosing to enable optimal treatment, or assess a patient’s risk of disease progression and disease recurrence.

Earnings History and Estimates for Myriad Genetics (NASDAQ:MYGN)

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