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.
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.
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