Myriad Genetics (MYGN) Downgraded to “Buy” at ValuEngine

ValuEngine lowered shares of Myriad Genetics (NASDAQ:MYGN) from a strong-buy rating to a buy rating in a report released on Thursday.

Several other equities research analysts have also commented on MYGN. BTIG Research set a $42.00 price target on shares of Myriad Genetics and gave the company a buy rating in a report on Tuesday, May 8th. TheStreet upgraded shares of Myriad Genetics from a c+ rating to a b rating in a report on Monday, June 4th. BidaskClub upgraded shares of Myriad Genetics from a buy rating to a strong-buy rating in a report on Friday, May 11th. Zacks Investment Research lowered shares of Myriad Genetics from a strong-buy rating to a hold rating in a report on Friday, May 18th. Finally, Morgan Stanley boosted their price target on shares of Myriad Genetics from $33.00 to $35.00 and gave the company an equal weight rating in a report on Wednesday, May 9th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, three have assigned 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 price target of $31.17.

Shares of MYGN opened at $38.87 on Thursday. Myriad Genetics has a 1-year low of $23.28 and a 1-year high of $41.57. The stock has a market cap of $2.70 billion, a P/E ratio of 37.02, a P/E/G ratio of 3.46 and a beta of 0.55. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.52 and a quick ratio of 3.16.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings data on Tuesday, May 8th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. Myriad Genetics had a net margin of 17.67% and a return on equity of 9.52%. The company had revenue of $193.50 million during the quarter, compared to analyst estimates of $188.22 million. During the same quarter last year, the business posted $0.27 EPS. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. research analysts forecast that Myriad Genetics will post 1.21 EPS for the current fiscal year.

In other news, VP Richard M. Marsh sold 33,139 shares of Myriad Genetics stock in a transaction that occurred on Wednesday, May 30th. The shares were sold at an average price of $38.00, for a total value of $1,259,282.00. Following the transaction, the vice president now owns 156,908 shares of the company’s stock, valued at approximately $5,962,504. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dennis Langer sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 21st. The stock was sold at an average price of $35.90, for a total transaction of $359,000.00. Following the sale, the director now directly owns 49,743 shares in the company, valued at approximately $1,785,773.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 326,139 shares of company stock worth $12,684,500. Insiders own 6.70% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in MYGN. Royal Bank of Canada boosted its holdings in shares of Myriad Genetics by 59.5% in the 1st quarter. Royal Bank of Canada now owns 4,597 shares of the company’s stock valued at $136,000 after acquiring an additional 1,715 shares during the last quarter. Meadow Creek Investment Management LLC boosted its holdings in shares of Myriad Genetics by 19.4% in the 4th quarter. Meadow Creek Investment Management LLC now owns 11,322 shares of the company’s stock valued at $389,000 after acquiring an additional 1,836 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of Myriad Genetics by 2.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 92,760 shares of the company’s stock valued at $2,740,000 after acquiring an additional 1,858 shares during the last quarter. Teachers Advisors LLC boosted its holdings in shares of Myriad Genetics by 1.7% in the 4th quarter. Teachers Advisors LLC now owns 117,695 shares of the company’s stock valued at $4,042,000 after acquiring an additional 1,948 shares during the last quarter. Finally, KBC Group NV boosted its holdings in shares of Myriad Genetics by 37.5% in the 4th quarter. KBC Group NV now owns 7,193 shares of the company’s stock valued at $247,000 after acquiring an additional 1,962 shares during the last quarter.

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; BART, a DNA sequencing test for hereditary 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; 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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Analyst Recommendations for Myriad Genetics (NASDAQ:MYGN)

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