Myriad Genetics, Inc. (NASDAQ:MYGN) has been given a consensus rating of “Hold” by the thirteen analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $38.62.
Several research analysts have recently issued reports on MYGN shares. ValuEngine raised Myriad Genetics from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Deutsche Bank reduced their target price on Myriad Genetics from $45.00 to $35.00 and set a “hold” rating on the stock in a report on Wednesday. Needham & Company LLC cut Myriad Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, July 29th. BidaskClub upgraded Myriad Genetics from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th. Finally, Cowen cut Myriad Genetics from an “outperform” rating to a “market perform” rating and set a $26.64 price target on the stock. in a report on Tuesday, July 9th.
Shares of Myriad Genetics stock traded down $2.55 on Friday, hitting $22.95. The stock had a trading volume of 195,023 shares, compared to its average volume of 1,536,945. The company has a 50 day moving average of $32.08. Myriad Genetics has a twelve month low of $22.07 and a twelve month high of $50.44. The company has a quick ratio of 2.86, a current ratio of 3.15 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 2.14 and a beta of 0.81.
Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.01. Myriad Genetics had a return on equity of 9.82% and a net margin of 2.62%. The company had revenue of $215.40 million during the quarter, compared to the consensus estimate of $221.64 million. During the same quarter in the prior year, the firm posted $0.38 earnings per share. The firm’s revenue was up 11.1% compared to the same quarter last year. On average, equities analysts anticipate that Myriad Genetics will post 1.67 earnings per share for the current year.
In other Myriad Genetics news, insider Bernard Tobin sold 11,712 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 146,040 shares in the company, valued at approximately $5,841,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Richard Bryan Riggsbee sold 25,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 120,566 shares in the company, valued at $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 over the last 90 days. Company insiders own 5.80% of the company’s stock.
Several institutional investors have recently bought and sold shares of the business. Neuburgh Advisers LLC raised its holdings in shares of Myriad Genetics by 4.5% in the second quarter. Neuburgh Advisers LLC now owns 7,040 shares of the company’s stock worth $196,000 after buying an additional 304 shares during the period. New York State Teachers Retirement System boosted its position in Myriad Genetics by 0.6% during the 1st quarter. New York State Teachers Retirement System now owns 50,798 shares of the company’s stock valued at $1,686,000 after acquiring an additional 307 shares in the last quarter. Mason Street Advisors LLC boosted its position in Myriad Genetics by 1.4% during the 1st quarter. Mason Street Advisors LLC now owns 23,532 shares of the company’s stock valued at $781,000 after acquiring an additional 315 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its position in Myriad Genetics by 1.8% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 21,920 shares of the company’s stock valued at $609,000 after acquiring an additional 380 shares in the last quarter. Finally, Riverhead Capital Management LLC boosted its position in Myriad Genetics by 5.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 7,898 shares of the company’s stock valued at $219,000 after acquiring an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 99.22% of the company’s stock.
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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