Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Myriad Genetics
So what: First-quarter revenue clocked a 20% jump, to $110.5 million, while earnings per share came in at $0.29. Both figures were ahead of expectations, as the Street was looking for $106.5 million in revenue and $0.28-per-share profit.
Now what: Full-year revenue is expected in the range of $445 million to $465 million, with earnings per share between $1.20 and $1.25. Molecular diagnostic revenue will comprise the bulk of sales, and is expected to be in the range of $421 million to $439 million. Following the strong results, Ticonderoga has upgraded the stock from neutral to buy, with a price target of $25.
Interested in more info on Myriad Genetics? Add it to your watchlist by clicking here.
Fool contributor Evan Niu holds no position in any company mentioned. Click here to see his holdings and a short bio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.