ValuEngine Downgrades Myriad Genetics, Inc. (MYGN) to Hold

ValuEngine cut shares of Myriad Genetics, Inc. (NASDAQ:MYGN) from a buy rating to a hold rating in a report released on Thursday.

Several other equities research analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Myriad Genetics from a hold rating to a buy rating and set a $28.00 price target for the company in a research report on Monday, July 17th. Morgan Stanley reissued an underweight rating and set a $24.00 price target (up previously from $17.00) on shares of Myriad Genetics in a research report on Friday, October 6th. BidaskClub cut shares of Myriad Genetics from a strong-buy rating to a buy rating in a research report on Wednesday, July 19th. Cowen and Company reissued a hold rating and set a $25.00 price target on shares of Myriad Genetics in a research report on Friday, July 14th. Finally, Leerink Swann reissued a market perform rating and set a $31.00 price target on shares of Myriad Genetics in a research report on Monday, October 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Myriad Genetics currently has an average rating of Hold and an average price target of $26.40.

Myriad Genetics (NASDAQ:MYGN) traded up $1.85 on Thursday, hitting $30.30. 1,323,632 shares of the company were exchanged, compared to its average volume of 992,985. The company has a market cap of $1,968.94, a PE ratio of 26.84, a P/E/G ratio of 1.83 and a beta of 0.24. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.26 and a current ratio of 1.46. Myriad Genetics has a 1-year low of $15.15 and a 1-year high of $37.30.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.04. The business had revenue of $200.50 million during the quarter, compared to analysts’ expectations of $193.71 million. Myriad Genetics had a net margin of 2.83% and a return on equity of 9.67%. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.36 EPS. research analysts predict that Myriad Genetics will post 1.04 earnings per share for the current year.

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In other 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 value of $909,000.00. Following the completion of 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 SEC, which is available at the SEC website. Company insiders own 6.70% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Teacher Retirement System of Texas purchased a new stake in shares of Myriad Genetics in the 3rd quarter worth about $204,000. Rhumbline Advisers lifted its position in Myriad Genetics by 2.7% during the 3rd quarter. Rhumbline Advisers now owns 137,380 shares of the company’s stock valued at $4,970,000 after acquiring an additional 3,575 shares during the period. Municipal Employees Retirement System of Michigan lifted its position in Myriad Genetics by 60.2% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 25,760 shares of the company’s stock valued at $932,000 after acquiring an additional 9,680 shares during the period. Zweig DiMenna Associates LLC purchased a new position in Myriad Genetics during the 3rd quarter valued at about $311,000. Finally, Sei Investments Co. lifted its position in Myriad Genetics by 19,816.3% during the 3rd quarter. Sei Investments Co. now owns 19,518 shares of the company’s stock valued at $707,000 after acquiring an additional 19,420 shares during the period.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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