Q1 2024 EPS Estimates for Myriad Genetics, Inc. Reduced by Leerink Partnrs (NASDAQ:MYGN)

Posted by on Sep 23rd, 2023

Myriad Genetics, Inc. (NASDAQ:MYGN – Free Report) – Stock analysts at Leerink Partnrs lowered their Q1 2024 earnings per share estimates for shares of Myriad Genetics in a report released on Wednesday, September 20th. Leerink Partnrs analyst P. Souda now anticipates that the company will earn ($0.15) per share for the quarter, down from their previous forecast of ($0.13). The consensus estimate for Myriad Genetics’ current full-year earnings is ($0.61) per share. Leerink Partnrs also issued estimates for Myriad Genetics’ Q2 2024 earnings at ($0.07) EPS, Q3 2024 earnings at ($0.07) EPS, Q4 2024 earnings at ($0.04) EPS and FY2024 earnings at ($0.34) EPS.

Myriad Genetics (NASDAQ:MYGN – Get Free Report) last posted its earnings results on Thursday, August 3rd. The company reported ($0.08) EPS for the quarter, hitting the consensus estimate of ($0.08). The company had revenue of $183.50 million during the quarter, compared to the consensus estimate of $187.16 million. Myriad Genetics had a negative net margin of 35.51% and a negative return on equity of 9.43%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.06) earnings per share.

A number of other analysts have also recently weighed in on MYGN. StockNews.com began coverage on Myriad Genetics in a research report on Thursday, August 17th. They issued a “hold” rating for the company. The Goldman Sachs Group lifted their price target on shares of Myriad Genetics from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Finally, JPMorgan Chase & Co. dropped their price target on shares of Myriad Genetics from $18.00 to $17.00 and set an “underweight” rating on the stock in a research report on Monday, August 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $24.20.

View Our Latest Stock Analysis on MYGN

Myriad Genetics Price Performance

Shares of NASDAQ:MYGN opened at $16.61 on Friday. Myriad Genetics has a fifty-two week low of $13.92 and a fifty-two week high of $24.21. The business has a 50-day moving average of $18.60 and a two-hundred day moving average of $20.93. The stock has a market capitalization of $1.36 billion, a P/E ratio of -5.46 and a beta of 1.78. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.33 and a quick ratio of 1.23.

Institutional Investors Weigh In On Myriad Genetics

Hedge funds have recently modified their holdings of the business. Royal Bank of Canada raised its position in shares of Myriad Genetics by 29.0% during the third quarter. Royal Bank of Canada now owns 2,339 shares of the company’s stock valued at $44,000 after buying an additional 526 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Myriad Genetics by 99.8% during the first quarter. Tower Research Capital LLC TRC now owns 2,654 shares of the company’s stock valued at $62,000 after buying an additional 1,326 shares during the last quarter. Natixis acquired a new position in shares of Myriad Genetics during the fourth quarter valued at about $44,000. Point72 Hong Kong Ltd raised its position in shares of Myriad Genetics by 722.8% during the second quarter. Point72 Hong Kong Ltd now owns 3,217 shares of the company’s stock valued at $58,000 after buying an additional 2,826 shares during the last quarter. Finally, US Bancorp DE increased its position in shares of Myriad Genetics by 14.6% during the first quarter. US Bancorp DE now owns 4,243 shares of the company’s stock valued at $108,000 after purchasing an additional 541 shares during the period. 99.02% of the stock is owned by institutional investors.

About Myriad Genetics

(Get Free Report)

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 mental health applications. 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, or 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.

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

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