Myriad Genetics (MYGN) to Release Quarterly Earnings on Thursday

Myriad Genetics (NASDAQ:MYGN - Get Free Report) will announce its earnings results after the market closes on Thursday, November 7th. Analysts expect the company to announce earnings of $0.02 per share for the quarter. Myriad Genetics has set its FY24 guidance at $0.08-0.12 EPS and its FY 2024 guidance at 0.080-0.120 EPS.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.06. Myriad Genetics had a negative return on equity of 5.64% and a negative net margin of 19.35%. The firm had revenue of $211.50 million during the quarter, compared to analyst estimates of $206.44 million. During the same period in the prior year, the company posted ($0.21) earnings per share. The business's revenue for the quarter 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

Shares of NASDAQ:MYGN traded down $0.82 during midday trading on Thursday, reaching $21.95. The company's stock had a trading volume of 554,575 shares, compared to its average volume of 702,309. Myriad Genetics has a fifty-two week low of $14.50 and a fifty-two week high of $29.30. The company has a market capitalization of $1.99 billion, a P/E ratio of -12.58 and a beta of 1.91. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.96 and a quick ratio of 1.78. The business's fifty day simple moving average is $25.89 and its 200-day simple moving average is $24.75.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Scotiabank raised their target price on Myriad Genetics from $29.00 to $34.00 and gave the company a "sector outperform" rating in a research note on Tuesday, August 13th. Wells Fargo & Company started coverage on Myriad Genetics in a research note on Tuesday, August 27th. They issued an "overweight" rating and a $35.00 target price for the company. TD Cowen lifted their price objective on Myriad Genetics from $28.00 to $30.00 and gave the stock a "hold" rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price objective on Myriad Genetics from $17.00 to $20.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 7th. Finally, Piper Sandler lifted their price objective on Myriad Genetics from $28.00 to $30.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $28.91.

Insiders Place Their Bets

In related news, CEO Paul J. Diaz sold 15,000 shares of the business's stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $22.93, for a total transaction of $343,950.00. Following the transaction, the chief executive officer now directly owns 962,378 shares of the company's stock, valued at approximately $22,067,327.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Heinrich Dreismann sold 10,000 shares of the business's stock in a transaction that occurred on Monday, September 9th. The stock was 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 approximately $3,290,578.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Paul J. Diaz sold 15,000 shares of the business's stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $22.93, for a total value of $343,950.00. Following the transaction, the chief executive officer now directly owns 962,378 shares in the company, valued at $22,067,327.54. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,012 shares of company stock valued at $1,900,485 in the last 90 days. 2.10% of the stock is currently owned by insiders.

Myriad Genetics Company Profile

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.