Myriad Genetics (NASDAQ:MYGN)‘s stock had its “hold” rating restated by equities researchers at Barclays in a research report issued on Monday, January 8th. They currently have a $30.00 price target on the stock. Barclays’ target price would indicate a potential downside of 20.32% from the stock’s current price.
MYGN has been the topic of several other research reports. BTIG Research started coverage on Myriad Genetics in a research note on Friday, January 5th. They issued a “buy” rating and a $41.00 price target on the stock. ValuEngine upgraded Myriad Genetics from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. Zacks Investment Research cut Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 15th. Deutsche Bank upped their price objective on Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, November 8th. Finally, Stephens set a $45.00 price objective on Myriad Genetics and gave the company a “buy” rating in a research note on Wednesday, January 3rd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $30.67.
Myriad Genetics (NASDAQ:MYGN) opened at $37.65 on Monday. The firm has a market capitalization of $2,610.00, a price-to-earnings ratio of 25.44, a price-to-earnings-growth ratio of 2.45 and a beta of 0.24. The company has a current ratio of 2.34, a quick ratio of 2.06 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 $41.57.
Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.05. The firm had revenue of $190.20 million during the quarter, compared to the consensus estimate of $183.52 million. Myriad Genetics had a return on equity of 9.54% and a net margin of 13.28%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.23 earnings per share. sell-side analysts forecast that Myriad Genetics will post 1.06 EPS for the current fiscal year.
In other news, VP Richard M. Marsh sold 37,654 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $40.25, for a total value of $1,515,573.50. Following the sale, the vice president now directly owns 157,648 shares of the company’s stock, valued at $6,345,332. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Richard M. Marsh sold 13,759 shares of the firm’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $36.25, for a total value of $498,763.75. Following the completion of the sale, the vice president now directly owns 136,385 shares in the company, valued at $4,943,956.25. The disclosure for this sale can be found here. Insiders sold 71,064 shares of company stock worth $2,679,097 over the last ninety days. 6.70% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GHP Investment Advisors Inc. lifted its stake in shares of Myriad Genetics by 11.1% in the third quarter. GHP Investment Advisors Inc. now owns 48,710 shares of the company’s stock valued at $1,762,000 after buying an additional 4,853 shares during the period. Vanguard Group Inc. lifted its position in Myriad Genetics by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 6,307,738 shares of the company’s stock valued at $162,992,000 after acquiring an additional 56,708 shares in the last quarter. PDT Partners LLC bought a new stake in Myriad Genetics in the 2nd quarter valued at $8,481,000. Shell Asset Management Co. lifted its position in Myriad Genetics by 34.3% in the 3rd quarter. Shell Asset Management Co. now owns 54,867 shares of the company’s stock valued at $2,116,000 after acquiring an additional 14,021 shares in the last quarter. Finally, Prudential Financial Inc. lifted its position in Myriad Genetics by 3.9% in the 3rd quarter. Prudential Financial Inc. now owns 131,073 shares of the company’s stock valued at $4,742,000 after acquiring an additional 4,900 shares in 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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