Research analysts at BTIG Research began coverage on shares of Myriad Genetics (NASDAQ:MYGN) in a report issued on Friday. The brokerage set a “buy” rating and a $41.00 price target on the stock. BTIG Research’s price objective points to a potential upside of 19.26% from the stock’s current price.
Other equities research analysts also recently issued reports about the company. Cowen restated a “hold” rating and set a $25.00 price target on shares of Myriad Genetics in a research note on Sunday, September 17th. Stephens set a $45.00 price objective on Myriad Genetics and gave the company a “buy” rating in a research note on Wednesday. Leerink Swann reiterated a “market perform” rating and set a $31.00 price objective on shares of Myriad Genetics in a research note on Monday, October 2nd. Deutsche Bank boosted their price objective on Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, November 8th. Finally, ValuEngine downgraded Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $29.73.
Shares of Myriad Genetics (NASDAQ MYGN) opened at $34.38 on Friday. The stock has a market capitalization of $2,430.35, a PE ratio of 23.07, a price-to-earnings-growth ratio of 2.23 and a beta of 0.24. Myriad Genetics has a 52 week low of $15.15 and a 52 week high of $37.30. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.06 and a current ratio of 2.34.
Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings results on Tuesday, November 7th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.05. The business had revenue of $190.20 million during the quarter, compared to the consensus estimate of $183.52 million. Myriad Genetics had a return on equity of 9.54% and a net margin of 13.28%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.23 EPS. equities research analysts anticipate that Myriad Genetics will post 1.05 earnings per share for the current year.
In other news, Director Heinrich Dreismann sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $33.50, for a total transaction of $201,000.00. Following the sale, the director now directly owns 33,743 shares of the company’s stock, valued at approximately $1,130,390.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Walter Phd Gilbert sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $33.19, for a total value of $248,925.00. The disclosure for this sale can be found here. Insiders sold a total of 16,531 shares of company stock valued at $545,826 over the last 90 days. 6.70% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Acadian Asset Management raised its holdings in Myriad Genetics by 37,442.5% during the 4th quarter. Acadian Asset Management now owns 160,682 shares of the company’s stock valued at $6,935,000 after buying an additional 160,254 shares during the period. DekaBank Deutsche Girozentrale increased its stake in Myriad Genetics by 96.3% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 68,500 shares of the company’s stock worth $3,007,000 after purchasing an additional 33,600 shares during the period. Advisory Services Network LLC increased its stake in Myriad Genetics by 4.8% in the fourth quarter. Advisory Services Network LLC now owns 16,789 shares of the company’s stock worth $725,000 after purchasing an additional 774 shares during the period. Russell Frank Co increased its stake in Myriad Genetics by 5,491.0% in the fourth quarter. Russell Frank Co now owns 692,168 shares of the company’s stock worth $30,387,000 after purchasing an additional 679,788 shares during the period. Finally, Gargoyle Investment Advisor L.L.C. increased its stake in Myriad Genetics by 0.4% in the fourth quarter. Gargoyle Investment Advisor L.L.C. now owns 76,252 shares of the company’s stock worth $3,292,000 after purchasing an additional 313 shares during the period.
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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.