Myriad Genetics, Inc. (NASDAQ:MYGN) Given Average Rating of “Hold” by Analysts

Myriad Genetics, Inc. (NASDAQ:MYGN) has been assigned an average rating of “Hold” from the twelve brokerages that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $27.36.

Several brokerages have recently issued reports on MYGN. Morgan Stanley reduced their price target on Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating for the company in a report on Monday, November 18th. StockNews.com cut shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. raised their price target on shares of Myriad Genetics from $17.00 to $20.00 and gave the company an “underweight” rating in a report on Wednesday, August 7th. Wells Fargo & Company began coverage on shares of Myriad Genetics in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $35.00 price objective for the company. Finally, Scotiabank increased their target price on shares of Myriad Genetics from $29.00 to $34.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 13th.

Myriad Genetics Stock Performance

Shares of NASDAQ MYGN opened at $16.27 on Wednesday. Myriad Genetics has a one year low of $14.72 and a one year high of $29.30. The business’s 50-day moving average price is $21.06 and its two-hundred day moving average price is $24.17. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73. The company has a market capitalization of $1.48 billion, a P/E ratio of -12.52 and a beta of 1.93.

Insider Activity

In related news, Director Heinrich Dreismann sold 10,000 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $27.05, for a total transaction of $270,500.00. Following the completion of the transaction, the director now directly owns 121,648 shares in the company, valued at $3,290,578.40. This represents a 7.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Colleen F. Reitan sold 46,012 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $27.95, for a total transaction of $1,286,035.40. Following the completion of the sale, the director now directly owns 42,533 shares of the company’s stock, valued at approximately $1,188,797.35. This trade represents a 51.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,012 shares of company stock valued at $1,900,485. 2.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. grew its position in Myriad Genetics by 8.8% during the third quarter. Franklin Resources Inc. now owns 58,055 shares of the company’s stock worth $1,457,000 after buying an additional 4,710 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Myriad Genetics by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,154,035 shares of the company’s stock worth $59,010,000 after acquiring an additional 21,220 shares during the period. Disciplined Growth Investors Inc. MN grew its holdings in shares of Myriad Genetics by 21.1% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,527,435 shares of the company’s stock worth $69,226,000 after purchasing an additional 440,107 shares in the last quarter. Barclays PLC increased its position in shares of Myriad Genetics by 136.9% during the third quarter. Barclays PLC now owns 190,243 shares of the company’s stock valued at $5,210,000 after purchasing an additional 109,931 shares during the period. Finally, Y Intercept Hong Kong Ltd raised its stake in shares of Myriad Genetics by 188.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 38,533 shares of the company’s stock valued at $1,055,000 after purchasing an additional 25,179 shares in the last quarter. Institutional investors own 99.02% of the company’s stock.

About Myriad Genetics

Myriad Genetics, Inc, a genetic testing and precision medicine company, develops genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and pharmacogenomics. It also provides MyRisk Hereditary Cancer Test, a DNA sequencing test for assessing the risks for hereditary cancers; BRACAnalysis CDx Germline Companion Diagnostic Test, a DNA sequencing test to help determine the therapy for patients with metastatic breast, ovarian, metastatic pancreatic, and metastatic prostate cancer with deleterious or suspected deleterious germline BRCA variants; and MyChoice CDx Companion Diagnostic Test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer.