Myriad Genetics, Inc. (MYGN) Downgraded by ValuEngine to Hold
Myriad Genetics, Inc. (NASDAQ:MYGN) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Thursday.
MYGN has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of Myriad Genetics from a “hold” rating to a “strong-buy” rating and set a $42.00 price target for the company in a report on Tuesday, October 17th. Jefferies Group LLC reiterated a “hold” rating and issued a $23.00 price target (up previously from $21.00) on shares of Myriad Genetics in a report on Thursday, August 10th. Cowen and Company reiterated a “hold” rating and issued a $25.00 price target on shares of Myriad Genetics in a report on Sunday, September 17th. Deutsche Bank AG upgraded shares of Myriad Genetics from a “sell” rating to a “hold” rating and cut their price target for the company from $27.86 to $15.00 in a report on Friday, August 18th. Finally, Stephens reiterated an “overweight” rating and issued a $40.00 price target (up previously from $36.00) on shares of Myriad Genetics in a report on Friday, September 22nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Myriad Genetics presently has a consensus rating of “Hold” and a consensus price target of $26.40.
Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.04. The business had revenue of $200.50 million during the quarter, compared to the consensus estimate of $193.71 million. Myriad Genetics had a net margin of 2.83% and a return on equity of 9.67%. The business’s revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.36 EPS.
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In other Myriad Genetics news, Director John T. Henderson sold 30,000 shares of the firm’s 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 sale, the director now directly owns 52,524 shares of the company’s stock, valued at approximately $1,591,477.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.70% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in shares of Myriad Genetics by 168,335.7% during the 1st quarter. BlackRock Inc. now owns 9,541,884 shares of the company’s stock worth $183,203,000 after purchasing an additional 9,536,219 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Myriad Genetics by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 6,307,738 shares of the company’s stock worth $162,992,000 after purchasing an additional 56,708 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Myriad Genetics by 29.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,430,216 shares of the company’s stock worth $88,636,000 after purchasing an additional 787,396 shares during the last quarter. Thrivent Financial For Lutherans boosted its stake in shares of Myriad Genetics by 7,026.7% during the 2nd quarter. Thrivent Financial For Lutherans now owns 2,742,340 shares of the company’s stock worth $70,862,000 after purchasing an additional 2,703,860 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Myriad Genetics by 31.1% during the 2nd quarter. Northern Trust Corp now owns 1,292,588 shares of the company’s stock worth $33,400,000 after purchasing an additional 306,276 shares during the last quarter.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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