Myriad Genetics, Inc. (MYGN) Receives Consensus Rating of “Hold” from Analysts
Myriad Genetics, Inc. (NASDAQ:MYGN) has been given an average rating of “Hold” by the twelve research firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $21.00.
Several equities research analysts have commented on MYGN shares. Zacks Investment Research upgraded Myriad Genetics from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Monday, July 17th. J P Morgan Chase & Co reiterated an “underweight” rating and set a $16.00 price objective on shares of Myriad Genetics in a research note on Friday, June 30th. BidaskClub upgraded Myriad Genetics from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Cowen and Company reiterated a “hold” rating and set a $25.00 price objective on shares of Myriad Genetics in a research note on Friday, July 14th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $22.00 price objective on shares of Myriad Genetics in a research note on Friday, July 14th.
In other news, Director John T. Henderson sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $30.30, for a total value of $909,000.00. Following the completion of the sale, the director now directly owns 52,524 shares in the company, valued at $1,591,477.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.20% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Arizona State Retirement System purchased a new stake in shares of Myriad Genetics in the first quarter valued at approximately $682,000. Bank of New York Mellon Corp grew its position in shares of Myriad Genetics by 131.2% in the first quarter. Bank of New York Mellon Corp now owns 918,305 shares of the company’s stock valued at $17,632,000 after purchasing an additional 521,146 shares in the last quarter. Frontier Capital Management Co. LLC grew its position in shares of Myriad Genetics by 1.4% in the first quarter. Frontier Capital Management Co. LLC now owns 3,075,954 shares of the company’s stock valued at $59,058,000 after purchasing an additional 41,432 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Myriad Genetics by 4.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 698,450 shares of the company’s stock valued at $13,411,000 after purchasing an additional 29,348 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its position in shares of Myriad Genetics by 958.4% in the first quarter. Great West Life Assurance Co. Can now owns 97,514 shares of the company’s stock valued at $1,870,000 after purchasing an additional 88,301 shares in the last quarter.
Myriad Genetics (MYGN) opened at 32.53 on Friday. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 101.97 and a beta of 0.26. Myriad Genetics has a 52 week low of $15.15 and a 52 week high of $33.42. The company’s 50-day moving average price is $27.51 and its 200-day moving average price is $22.74.
Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.30 EPS for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $193.71 million. During the same period in the previous year, the business earned $0.36 EPS. Myriad Genetics’s quarterly revenue was up 7.5% on a year-over-year basis. Equities analysts forecast that Myriad Genetics will post $1.02 earnings per share for the current fiscal year.
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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