Myriad Genetics, Inc. (NASDAQ:MYGN) Downgraded to “Hold” at ValuEngine

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.

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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.

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

Analyst Recommendations for Myriad Genetics (NASDAQ:MYGN)

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