ValuEngine cut shares of Myriad Genetics, Inc. (NASDAQ:MYGN) from a buy rating to a hold rating in a research report report published on Thursday, November 2nd.
A number of other research firms have also commented on MYGN. Zacks Investment Research raised shares of Myriad Genetics from a hold rating to a buy rating and set a $28.00 price target on the stock in a research report on Monday, July 17th. Morgan Stanley reissued an underweight rating and issued a $24.00 target price (up from $17.00) on shares of Myriad Genetics in a report on Friday, October 6th. BidaskClub lowered shares of Myriad Genetics from a strong-buy rating to a buy rating in a report on Wednesday, July 19th. Cowen and Company reaffirmed a hold rating and set a $25.00 price target on shares of Myriad Genetics in a report on Friday, July 14th. Finally, Leerink Swann restated a market perform rating and issued a $31.00 price target on shares of Myriad Genetics in a research report on Monday, October 2nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $28.10.
Shares of Myriad Genetics (NASDAQ:MYGN) opened at $33.00 on Thursday. The company has a quick ratio of 2.06, a current ratio of 2.34 and a debt-to-equity ratio of 0.09. Myriad Genetics has a 12 month low of $15.15 and a 12 month high of $37.30. The company has a market cap of $2,276.64, a P/E ratio of 30.17, a price-to-earnings-growth ratio of 2.09 and a beta of 0.24.
Myriad Genetics (NASDAQ:MYGN) last released its earnings results on Tuesday, November 7th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. The business had revenue of $190.20 million during 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 firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.23 earnings per share. equities research analysts forecast that Myriad Genetics will post 1.05 EPS for the current fiscal year.
In related news, insider Alexander Ford sold 3,031 shares of the company’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 value of $95,900.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John T. Henderson sold 30,000 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $30.30, for a total transaction of $909,000.00. Following the transaction, the director now owns 52,524 shares in the company, valued at $1,591,477.20. The disclosure for this sale can be found here. Corporate insiders own 6.70% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. CS Mckee LP lifted its stake in Myriad Genetics by 42.2% in the third quarter. CS Mckee LP now owns 42,650 shares of the company’s stock worth $1,543,000 after acquiring an additional 12,650 shares during the period. California Public Employees Retirement System lifted its stake in Myriad Genetics by 3.7% in the third quarter. California Public Employees Retirement System now owns 285,280 shares of the company’s stock worth $10,321,000 after acquiring an additional 10,280 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Myriad Genetics during the third quarter valued at $1,028,000. Royce & Associates LP purchased a new position in Myriad Genetics during the third quarter valued at $990,000. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new position in Myriad Genetics during the third quarter valued at $9,083,000.
About Myriad Genetics
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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