Myriad Genetics (MYGN) Receives New Coverage from Analysts at BTIG Research

BTIG Research initiated coverage on shares of Myriad Genetics (NASDAQ:MYGN) in a report issued on Friday. The brokerage issued a buy rating and a $41.00 price target on the stock.

Other equities research analysts have also recently issued reports about the stock. Cowen reaffirmed a hold rating and issued a $25.00 price objective on shares of Myriad Genetics in a research report on Sunday, September 17th. Leerink Swann reaffirmed a market perform rating and issued a $31.00 price objective on shares of Myriad Genetics in a research report on Monday, October 2nd. Stephens set a $45.00 price objective on shares of Myriad Genetics and gave the company a buy rating in a research report on Wednesday. Deutsche Bank boosted their price objective on shares of Myriad Genetics from $28.00 to $30.00 and gave the company a hold rating in a research report on Wednesday, November 8th. Finally, ValuEngine cut shares of Myriad Genetics from a buy rating to a hold rating in a research report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. Myriad Genetics currently has a consensus rating of Hold and a consensus target price of $29.73.

Myriad Genetics (NASDAQ:MYGN) traded up $0.45 on Friday, reaching $34.83. 392,105 shares of the company traded hands, compared to its average volume of 611,958. The company has a market cap of $2,380.50, a PE ratio of 23.38, a P/E/G ratio of 2.18 and a beta of 0.24. Myriad Genetics has a 1-year low of $15.15 and a 1-year high of $37.30. The company has a quick ratio of 2.06, a current ratio of 2.34 and a debt-to-equity ratio of 0.09.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings data on Tuesday, November 7th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.21 by $0.05. The business had revenue of $190.20 million for the quarter, compared to analysts’ expectations of $183.52 million. Myriad Genetics had a net margin of 13.28% and a return on equity of 9.54%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.23 EPS. equities research analysts predict that Myriad Genetics will post 1.05 EPS for the current fiscal year.

In other news, Director Walter Phd Gilbert sold 7,500 shares of the company’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $33.19, for a total value of $248,925.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Alexander Ford sold 3,031 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $31.64, for a total transaction of $95,900.84. The disclosure for this sale can be found here. Insiders have sold a total of 16,531 shares of company stock worth $545,826 over the last three months. Insiders own 6.70% of the company’s stock.

Hedge funds have recently modified their holdings of the company. GHP Investment Advisors Inc. raised its holdings in shares of Myriad Genetics by 11.1% in the 3rd quarter. GHP Investment Advisors Inc. now owns 48,710 shares of the company’s stock valued at $1,762,000 after purchasing an additional 4,853 shares during the period. Vanguard Group Inc. raised its holdings in shares of Myriad Genetics by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 6,307,738 shares of the company’s stock valued at $162,992,000 after purchasing an additional 56,708 shares during the period. PDT Partners LLC bought a new stake in shares of Myriad Genetics in the 2nd quarter valued at about $8,481,000. Shell Asset Management Co. raised its holdings in shares of Myriad Genetics by 34.3% in the 3rd quarter. Shell Asset Management Co. now owns 54,867 shares of the company’s stock valued at $2,116,000 after purchasing an additional 14,021 shares during the period. Finally, Prudential Financial Inc. raised its holdings in shares of Myriad Genetics by 3.9% in the 3rd quarter. Prudential Financial Inc. now owns 131,073 shares of the company’s stock valued at $4,742,000 after purchasing an additional 4,900 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.

Analyst Recommendations for Myriad Genetics (NASDAQ:MYGN)

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