Traders Buy Large Volume of Put Options on Myriad Genetics (MYGN)

Myriad Genetics, Inc. (NASDAQ:MYGN) saw unusually large options trading on Thursday. Traders acquired 6,830 put options on the stock. This represents an increase of approximately 5,839% compared to the average volume of 115 put options.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada lifted its holdings in shares of Myriad Genetics by 59.5% during the 1st quarter. Royal Bank of Canada now owns 4,597 shares of the company’s stock valued at $136,000 after buying an additional 1,715 shares during the period. Robecosam AG lifted its holdings in shares of Myriad Genetics by 39.8% during the 2nd quarter. Robecosam AG now owns 4,193 shares of the company’s stock valued at $156,000 after buying an additional 1,193 shares during the period. First Quadrant L P CA bought a new position in shares of Myriad Genetics during the 3rd quarter valued at $201,000. Commonwealth Equity Services LLC bought a new position in shares of Myriad Genetics during the 2nd quarter valued at $205,000. Finally, Natixis bought a new position in shares of Myriad Genetics during the 2nd quarter valued at $228,000. Institutional investors and hedge funds own 96.32% of the company’s stock.

Shares of MYGN opened at $39.40 on Friday. The company has a current ratio of 3.19, a quick ratio of 2.86 and a debt-to-equity ratio of 0.01. Myriad Genetics has a 12 month low of $27.23 and a 12 month high of $50.44. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 32.83, a price-to-earnings-growth ratio of 2.80 and a beta of 0.51.

Myriad Genetics (NASDAQ:MYGN) last issued its earnings results on Tuesday, August 21st. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.33 by $0.05. Myriad Genetics had a return on equity of 9.78% and a net margin of 17.69%. The business had revenue of $200.90 million for the quarter, compared to the consensus estimate of $195.93 million. During the same period last year, the business posted $0.30 EPS. The company’s revenue was up .7% compared to the same quarter last year. On average, equities research analysts expect that Myriad Genetics will post 1.41 earnings per share for the current year.

Several research firms recently weighed in on MYGN. Morgan Stanley upped their price target on Myriad Genetics from $47.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 22nd. Zacks Investment Research upgraded Myriad Genetics from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Tuesday, October 23rd. Barclays cut their price target on Myriad Genetics from $30.00 to $25.00 and set an “underweight” rating on the stock in a research note on Tuesday, September 11th. BidaskClub downgraded Myriad Genetics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 21st. Finally, Stephens increased their target price on Myriad Genetics from $45.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, August 22nd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. Myriad Genetics has an average rating of “Hold” and an average target price of $40.60.

About Myriad Genetics

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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