Myriad Genetics, Inc. (MYGN) Receives Consensus Rating of “Hold” from Brokerages
Myriad Genetics, Inc. (NASDAQ:MYGN) has been given a consensus recommendation of “Hold” by the thirteen research firms that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $21.71.
Several research analysts recently issued reports on the company. Jefferies Group LLC reissued a “hold” rating and issued a $23.00 price objective (up previously from $21.00) on shares of Myriad Genetics in a research note on Thursday, August 10th. BidaskClub raised Myriad Genetics from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Zacks Investment Research cut Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Friday. Piper Jaffray Companies reaffirmed a “hold” rating and set a $22.00 target price on shares of Myriad Genetics in a research report on Friday, July 14th. Finally, Cowen and Company reaffirmed a “hold” rating and set a $25.00 target price on shares of Myriad Genetics in a research report on Monday.
Myriad Genetics (NASDAQ:MYGN) opened at 27.87 on Tuesday. Myriad Genetics has a 1-year low of $15.15 and a 1-year high of $28.39. The stock has a market cap of $1.91 billion, a PE ratio of 87.37 and a beta of 0.31. The stock has a 50 day moving average price of $25.23 and a 200-day moving average price of $21.08.
Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.04. Myriad Genetics had a return on equity of 9.67% and a net margin of 2.83%. The company had revenue of $200.50 million for the quarter, compared to analysts’ expectations of $193.71 million. During the same quarter in the prior year, the firm earned $0.36 earnings per share. Myriad Genetics’s revenue was up 7.5% compared to the same quarter last year. On average, equities analysts expect that Myriad Genetics will post $1.04 EPS for the current year.
Several hedge funds have recently modified their holdings of MYGN. SG Americas Securities LLC acquired a new stake in shares of Myriad Genetics during the second quarter valued at approximately $101,000. Riverhead Capital Management LLC raised its stake in shares of Myriad Genetics by 80.9% in the second quarter. Riverhead Capital Management LLC now owns 4,161 shares of the company’s stock valued at $107,000 after buying an additional 1,861 shares in the last quarter. Fiduciary Trust Co. acquired a new stake in shares of Myriad Genetics during the second quarter valued at approximately $113,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Myriad Genetics during the first quarter valued at approximately $112,000. Finally, Creative Planning raised its stake in shares of Myriad Genetics by 11.8% in the first quarter. Creative Planning now owns 6,371 shares of the company’s stock valued at $122,000 after buying an additional 671 shares in the last quarter.
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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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