Myriad Genetics (NASDAQ:MYGN)‘s stock had its “hold” rating reiterated by investment analysts at Barclays in a report released on Monday. They presently have a $30.00 target price on the stock. Barclays’ target price points to a potential downside of 13.44% from the company’s current price.
Several other research analysts have also commented on MYGN. Cowen restated a “hold” rating and issued a $25.00 price objective on shares of Myriad Genetics in a report on Sunday, September 17th. Stephens restated an “overweight” rating and issued a $40.00 price objective (up from $36.00) on shares of Myriad Genetics in a report on Friday, September 22nd. Leerink Swann restated a “market perform” rating and issued a $31.00 price objective on shares of Myriad Genetics in a report on Monday, October 2nd. Morgan Stanley restated an “underweight” rating and issued a $24.00 price objective (up from $17.00) on shares of Myriad Genetics in a report on Friday, October 6th. Finally, Zacks Investment Research upgraded shares of Myriad Genetics from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a report on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $30.09.
Shares of Myriad Genetics (MYGN) traded up $0.92 during midday trading on Monday, reaching $34.66. 700,300 shares of the company’s stock traded hands, compared to its average volume of 514,100. The company has a quick ratio of 2.06, a current ratio of 2.34 and a debt-to-equity ratio of 0.09. Myriad Genetics has a 1-year low of $15.15 and a 1-year high of $37.30. The company has a market cap of $2,370.00, a price-to-earnings ratio of 23.42, a PEG ratio of 2.21 and a beta of 0.24.
Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.05. Myriad Genetics had a net margin of 13.28% and a return on equity of 9.54%. The business had revenue of $190.20 million during the quarter, compared to analyst estimates of $183.52 million. During the same period in the prior year, the business earned $0.23 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. research analysts expect that Myriad Genetics will post 1.05 EPS for the current year.
In other news, Director Heinrich Dreismann sold 6,000 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $33.50, for a total value of $201,000.00. Following the sale, the director now directly owns 33,743 shares of the company’s stock, valued at approximately $1,130,390.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Walter Phd Gilbert sold 7,500 shares of the stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $33.19, for a total transaction of $248,925.00. The disclosure for this sale can be found here. Insiders sold a total of 16,531 shares of company stock worth $545,826 over the last ninety days. Insiders own 6.70% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in Myriad Genetics during the 2nd quarter valued at about $101,000. Riverhead Capital Management LLC grew its position in Myriad Genetics by 80.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,161 shares of the company’s stock valued at $107,000 after purchasing an additional 1,861 shares during the last quarter. Fiduciary Trust Co. purchased a new stake in Myriad Genetics during the 2nd quarter valued at about $113,000. Meeder Asset Management Inc. grew its position in Myriad Genetics by 1,067.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 3,292 shares of the company’s stock valued at $119,000 after purchasing an additional 3,010 shares during the last quarter. Finally, Tiedemann Wealth Management LLC grew its position in Myriad Genetics by 67.0% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 13,650 shares of the company’s stock valued at $185,000 after purchasing an additional 5,475 shares during the last quarter.
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Myriad Genetics Company Profile
Myriad Genetics, Inc is a molecular diagnostic company. The Company is engaged in the discovery, development and marketing of transformative molecular diagnostic tests. The Company operates through two segments: diagnostics and other. The diagnostics segment 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 to enable optimal treatment, or assess a patient’s risk of disease progression and disease recurrence.
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