Myriad Genetics, Inc. (MYGN) Receives Average Recommendation of “Hold” from Brokerages
Myriad Genetics, Inc. (NASDAQ:MYGN) has been assigned an average recommendation of “Hold” from the thirteen analysts that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $24.75.
MYGN has been the topic of several analyst reports. Leerink Swann reissued a “market perform” rating and set a $31.00 price target on shares of Myriad Genetics in a report on Monday. Stephens restated an “overweight” rating and issued a $40.00 price target (up previously from $36.00) on shares of Myriad Genetics in a research report on Friday, September 22nd. Cowen and Company restated a “hold” rating and issued a $25.00 price target on shares of Myriad Genetics in a research report on Sunday, September 17th. Jefferies Group LLC reaffirmed 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. Finally, Deutsche Bank AG raised Myriad Genetics from a “sell” rating to a “hold” rating and decreased their price objective for the stock from $27.86 to $15.00 in a research note on Friday, August 18th.
Shares of Myriad Genetics (MYGN) opened at 37.13 on Wednesday. Myriad Genetics has a one year low of $15.15 and a one year high of $37.14. The stock has a 50 day moving average of $31.93 and a 200-day moving average of $24.64. The stock has a market capitalization of $2.54 billion, a P/E ratio of 116.39 and a beta of 0.28.
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 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 firm had revenue of $200.50 million during the quarter, compared to analyst estimates of $193.71 million. During the same period in the prior year, the business posted $0.36 EPS. Myriad Genetics’s 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 year.
In other Myriad Genetics 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 transaction, the director now directly owns 52,524 shares in the company, valued at approximately $1,591,477.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 6.20% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in MYGN. SG Americas Securities LLC purchased a new position in shares of Myriad Genetics during the second quarter valued at about $101,000. Riverhead Capital Management LLC increased its holdings 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 worth $107,000 after purchasing an additional 1,861 shares during the last quarter. Fiduciary Trust Co. bought a new stake in shares of Myriad Genetics in the second quarter worth about $113,000. Ameritas Investment Partners Inc. bought a new stake in shares of Myriad Genetics in the first quarter worth about $112,000. Finally, Ronald Blue & Co. LLC bought a new stake in shares of Myriad Genetics in the second quarter worth about $208,000.
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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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