Myriad Genetics, Inc. (MYGN) Receives Consensus Rating of “Hold” from Brokerages
Myriad Genetics, Inc. (NASDAQ:MYGN) has been assigned an average recommendation of “Hold” from the thirteen ratings firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $26.40.
A number of analysts recently issued reports on MYGN shares. Cowen and Company reaffirmed a “hold” rating and issued a $25.00 target price on shares of Myriad Genetics in a research report on Friday, July 14th. Piper Jaffray Companies reissued a “hold” rating and set a $22.00 price target on shares of Myriad Genetics in a research report on Friday, July 14th. Zacks Investment Research raised 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. BidaskClub downgraded Myriad Genetics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. Finally, Barclays PLC reduced their price objective on Myriad Genetics from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Wednesday, August 9th.
Myriad Genetics (MYGN) opened at 34.86 on Friday. Myriad Genetics has a 12 month low of $15.15 and a 12 month high of $37.30. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of 109.28 and a beta of 0.28. The firm has a 50-day moving average price of $34.82 and a 200 day moving average price of $26.69.
Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $200.50 million for the quarter, compared to the consensus estimate of $193.71 million. During the same quarter last year, the business posted $0.36 EPS. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, equities analysts forecast that Myriad Genetics will post $1.03 EPS for the current year.
In other news, Director John T. Henderson sold 30,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $1,591,477.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 6.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Crossmark Global Holdings Inc. bought a new position in Myriad Genetics in the 3rd quarter valued at about $655,000. IFC Holdings Incorporated FL bought a new position in Myriad Genetics in the 3rd quarter valued at about $438,000. Parsec Financial Management Inc. bought a new position in Myriad Genetics in the 3rd quarter valued at about $1,174,000. Meeder Asset Management Inc. lifted its position in Myriad Genetics by 1,067.4% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,292 shares of the company’s stock valued at $119,000 after acquiring an additional 3,010 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in Myriad Genetics by 97.2% in the 3rd quarter. Fisher Asset Management LLC now owns 120,312 shares of the company’s stock valued at $4,353,000 after acquiring an additional 59,301 shares in the last quarter.
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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