Myriad Genetics, Inc. (NASDAQ:MYGN) has received an average recommendation of “Hold” from the thirteen research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $38.62.
A number of research firms have recently weighed in on MYGN. Piper Jaffray Companies downgraded Myriad Genetics from an “overweight” rating to a “neutral” rating and cut their price target for the company from $45.00 to $40.00 in a research note on Wednesday. ValuEngine raised Myriad Genetics from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Barclays downgraded Myriad Genetics from an “equal weight” rating to an “underweight” rating in a research note on Wednesday. Zacks Investment Research raised Myriad Genetics from a “sell” rating to a “hold” rating and set a $30.00 price target on the stock in a research note on Monday, July 1st. Finally, Deutsche Bank dropped their price objective on Myriad Genetics from $45.00 to $35.00 and set a “hold” rating on the stock in a research note on Wednesday.
Shares of MYGN stock traded up $2.15 during trading hours on Friday, reaching $25.35. The company had a trading volume of 1,998,800 shares, compared to its average volume of 2,124,819. The company has a 50 day moving average of $32.05 and a 200 day moving average of $30.04. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.96 and a quick ratio of 2.86. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 19.65, a P/E/G ratio of 1.20 and a beta of 0.81. Myriad Genetics has a 1-year low of $22.07 and a 1-year high of $50.44.
Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.01. The company had revenue of $215.40 million for the quarter, compared to the consensus estimate of $221.64 million. Myriad Genetics had a return on equity of 9.09% and a net margin of 0.54%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 EPS. As a group, sell-side analysts forecast that Myriad Genetics will post 1.51 EPS for the current fiscal year.
In related news, insider Bernard Tobin sold 11,712 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $40.00, for a total transaction of $468,480.00. Following the sale, the insider now owns 146,040 shares of the company’s stock, valued at approximately $5,841,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard Bryan Riggsbee sold 25,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $41.50, for a total value of $1,037,500.00. Following the sale, the chief financial officer now directly owns 120,566 shares in the company, valued at approximately $5,003,489. The disclosure for this sale can be found here. Insiders have sold a total of 96,712 shares of company stock worth $4,115,380 in the last ninety days. 5.80% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the stock. Pearl River Capital LLC increased its holdings in Myriad Genetics by 154.9% during the 1st quarter. Pearl River Capital LLC now owns 882 shares of the company’s stock worth $30,000 after purchasing an additional 536 shares in the last quarter. Investors Research Corp bought a new position in Myriad Genetics during the 1st quarter worth about $46,000. Financial Gravity Wealth Inc. bought a new position in Myriad Genetics during the 1st quarter worth about $56,000. NumerixS Investment Technologies Inc bought a new position in Myriad Genetics during the 2nd quarter worth about $64,000. Finally, Nisa Investment Advisors LLC increased its holdings in Myriad Genetics by 625.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 2,320 shares of the company’s stock worth $77,000 after purchasing an additional 2,000 shares in the last quarter. 99.22% of the stock is currently owned by institutional investors and hedge funds.
Myriad Genetics Company Profile
Myriad Genetics, Inc, a molecular diagnostic company, focuses on developing and marketing novel predictive medicine, personalized medicine, and prognostic medicine tests worldwide. The company offers molecular diagnostic tests, including myRisk Hereditary Cancer, a DNA sequencing test for hereditary cancers; BRACAnalysis, a DNA sequencing test to assess the risk of developing breast and ovarian cancer; BRACAnalysis CDx, a DNA sequencing test for use as a companion diagnostic with the platinum based chemotherapy agents and poly ADP ribose inhibitor Lynparza; riskScore, a clinically validated personalized medicine tool; GeneSight, a DNA genotyping test to optimize psychotropic drug selection for neuroscience patients; and Tumor BRACAnalysis CDx, a DNA sequencing test that is designed to be utilized to predict response to DNA damaging agents.
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