Myriad Genetics, Inc. (NASDAQ:MYGN) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Friday, November 10th.
MYGN has been the topic of a number of other reports. Morgan Stanley reiterated an “underweight” rating and set a $24.00 price objective (up from $17.00) on shares of Myriad Genetics in a research note on Friday, October 6th. Zacks Investment Research raised shares of Myriad Genetics from a “hold” rating to a “strong-buy” rating and set a $42.00 target price for the company in a report on Tuesday, October 17th. Deutsche Bank AG raised shares of Myriad Genetics from a “sell” rating to a “hold” rating and dropped their target price for the stock from $27.86 to $15.00 in a report on Friday, August 18th. BidaskClub cut shares of Myriad Genetics from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, Stephens reissued an “overweight” rating and issued a $40.00 target price (up previously from $36.00) on shares of Myriad Genetics in a report on Friday, September 22nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $28.10.
Myriad Genetics (NASDAQ MYGN) traded down $0.13 during mid-day trading on Friday, hitting $32.87. 323,300 shares of the company traded hands, compared to its average volume of 1,212,409. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.34 and a quick ratio of 2.06. Myriad Genetics has a fifty-two week low of $15.15 and a fifty-two week high of $37.30. The firm has a market capitalization of $2,284.95, a P/E ratio of 30.27, a PEG ratio of 2.09 and a beta of 0.24.
Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. The firm had revenue of $190.20 million for the quarter, compared to the consensus estimate of $183.52 million. Myriad Genetics had a net margin of 13.28% and a return on equity of 9.54%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.23 earnings per share. equities research analysts anticipate that Myriad Genetics will post 1.05 earnings per share for the current fiscal year.
In related news, Director John T. Henderson sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $30.30, for a total value of $909,000.00. Following the completion of the transaction, the director now owns 52,524 shares in the company, valued at approximately $1,591,477.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Alexander Ford sold 3,031 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $31.64, for a total transaction of $95,900.84. The disclosure for this sale can be found here. 6.70% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new position in Myriad Genetics in the 2nd quarter valued at approximately $101,000. Riverhead Capital Management LLC increased its position in Myriad Genetics by 80.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,161 shares of the company’s stock valued at $107,000 after purchasing an additional 1,861 shares during the period. Fiduciary Trust Co. acquired a new stake in Myriad Genetics during the 2nd quarter valued at approximately $113,000. Meeder Asset Management Inc. increased its position in Myriad Genetics by 1,067.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 3,292 shares of the company’s stock valued at $119,000 after purchasing an additional 3,010 shares during the period. Finally, Tiedemann Wealth Management LLC increased its position in Myriad Genetics by 67.0% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 13,650 shares of the company’s stock valued at $185,000 after purchasing an additional 5,475 shares during the period.
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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