Revenue Update on Myriad Genetics(NASDAQ:MYGN)

Myriad Genetics(NASDAQ:MYGN) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during After-hours on Aug 9, 2016. Company reported revenue of $186.50M. Analysts estimated a revenue of $187.95M. Earnings per share were $0.36. Analysts had estimated an EPS of $0.38.

In a different note, On Jul 29, 2016, Bank of America said it Downgrades its rating on Myriad Genetics. The shares have been rated ‘Underperform’ by the firm.

Myriad Genetics (MYGN) shares turned negative on Wednesdays trading session with the shares closing down -0.47 points or -2.19% at a volume of 24,90,402. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $21.665. The peak price level was also seen at $21.665 while the days lowest was $20.66. Finally the shares closed at $20.96. The 52-week high of the shares is $46.24 while the 52-week low is $19.1. According to the latest information available, the market cap of the company is $1,449 M.

Several Insider Transactions has been reported to the SEC. On Jun 22, 2016, Alexander Ford (President, MGL) sold 18,637 shares at $30.87 per share price.Also, On Apr 8, 2016, Gary A. King (Exec. VP International Ops) sold 15,000 shares at $39.03 per share price.On Dec 14, 2015, Walter Phd Gilbert (director) sold 5,000 shares at $42.23 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.

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