Myriad Genetics, Inc. (MYGN) Upgraded by ValuEngine to Buy

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.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Myriad Genetics (NASDAQ:MYGN)

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