Insider Selling: Peter D. Meldrum Sells 24,000 Shares of Myriad Genetics Stock (MYGN)
Myriad Genetics (NASDAQ:MYGN) Insider Peter D. Meldrum sold 24,000 shares of the company’s stock on the open market in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $39.50, for a total value of $948,000.00. Following the completion of the sale, the insider now directly owns 6,540 shares of the company’s stock, valued at approximately $258,330. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on MYGN shares. Analysts at SunTrust raised their price target on shares of Myriad Genetics from $22.00 to $26.00 in a research note on Monday. Separately, analysts at Zacks downgraded shares of Myriad Genetics from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 9th. They now have a $39.00 price target on the stock. Finally, analysts at RBC Capital raised their price target on shares of Myriad Genetics from $31.00 to $40.00 in a research note on Monday, June 30th. They now have a “sector perform” rating on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $35.59.
Myriad Genetics (NASDAQ:MYGN) traded down 1.29% during mid-day trading on Tuesday, hitting $39.89. 59,693 shares of the company’s stock traded hands. Myriad Genetics has a 52 week low of $20.02 and a 52 week high of $42.50. The stock has a 50-day moving average of $36.29 and a 200-day moving average of $34.14. The company has a market cap of $2.985 billion and a P/E ratio of 17.14.
Myriad Genetics (NASDAQ:MYGN) last released its earnings data on Tuesday, May 6th. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.45 by $0.03. The company had revenue of $182.92 million for the quarter, compared to the consensus estimate of $175.23 million. During the same quarter in the prior year, the company posted $0.46 earnings per share. The company’s quarterly revenue was up 16.9% on a year-over-year basis. On average, analysts predict that Myriad Genetics will post $2.39 earnings per share for the current fiscal year.
Myriad Genetics, Inc (NASDAQ:MYGN) is a molecular diagnostic company.