Myriad Genetics (MYGN) Releases Earnings Results, Beats Expectations By $0.03 EPS

Myriad Genetics (MYGN) reported quarterly earnings results on Tuesday, May-3-2016. The company said it had a profit of $0.41 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.38. The company posted revenue of $190.50 million in the period, compared to analysts expectations of $184.93 million. The company’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS.

Myriad Genetics opened for trading at $36.07 and hit $36.71 on the upside on Monday, eventually ending the session at $36.66, with a gain of 1.83% or 0.66 points. The heightened volatility saw the trading volume jump to 7,36,634 shares. Company has a market cap of $2,612 M.

In a different news, on Apr 8, 2016, Gary A. King (Exec. VP International Ops) sold 15,000 shares at $39.03 per share price. According to the SEC, on Dec 14, 2015, Walter Phd Gilbert (director) sold 5,000 shares at $42.23 per share price. On Dec 9, 2015, S. Louise Phanstiel (director) sold 5,000 shares at $44.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Myriad Genetics Inc. (Myriad) is a molecular diagnostic company. The Company is engaged in the discovery development and marketing of transformative molecular diagnostic tests. Myriad operates through two segments: diagnostics which 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 or assess a patient’s risk of disease progression and disease recurrence and other which provides testing products and services to the pharmaceutical biotechnology and medical research industries research and development and clinical services for patients. It offers diagnostic tests for various diseases such as myRisk Hereditary Cancer test for hereditary cancers; myPlan Lung Cancer test for lung cancer; myPath Melanoma test for melanoma; Prolaris test for prostate cancer and Vectra DA for rheumatoid arthritis.

Myriad Genetics

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