Myriad Genetics, Inc. (MYGN) Receives Consensus Rating of “Hold” from Brokerages

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) have been given an average recommendation of “Hold” by the fifteen analysts that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $28.90.

A number of research analysts have commented on MYGN shares. BTIG Research started coverage on shares of Myriad Genetics in a research report on Friday, January 5th. They set a “buy” rating and a $41.00 price target on the stock. Morgan Stanley reiterated an “underweight” rating and set a $24.00 price target (up from $17.00) on shares of Myriad Genetics in a research report on Friday, October 6th. Barclays reiterated a “hold” rating and set a $30.00 price target on shares of Myriad Genetics in a research report on Monday. Zacks Investment Research upgraded shares of Myriad Genetics from a “hold” rating to a “strong-buy” rating and set a $42.00 price target on the stock in a research report on Tuesday, October 17th. Finally, ValuEngine upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating in a research report on Friday, November 10th.

In related news, Director Heinrich Dreismann sold 6,000 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $33.50, for a total value of $201,000.00. Following the completion of the sale, the director now owns 33,743 shares of the company’s stock, valued at $1,130,390.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Walter Phd Gilbert sold 7,500 shares of the firm’s stock in a transaction 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. In the last three months, insiders have sold 16,531 shares of company stock valued at $545,826. Insiders own 6.70% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC lifted its stake in Myriad Genetics by 5.2% in the third quarter. Parametric Portfolio Associates LLC now owns 353,673 shares of the company’s stock worth $12,796,000 after acquiring an additional 17,439 shares during the period. TrimTabs Asset Management LLC lifted its stake in Myriad Genetics by 17.2% in the third quarter. TrimTabs Asset Management LLC now owns 11,798 shares of the company’s stock worth $427,000 after acquiring an additional 1,728 shares during the period. Shelton Capital Management purchased a new stake in Myriad Genetics in the third quarter worth $238,000. CS Mckee LP lifted its stake in Myriad Genetics by 42.2% in the third quarter. CS Mckee LP now owns 42,650 shares of the company’s stock worth $1,543,000 after acquiring an additional 12,650 shares during the period. Finally, California Public Employees Retirement System lifted its stake in Myriad Genetics by 3.7% in the third quarter. California Public Employees Retirement System now owns 285,280 shares of the company’s stock worth $10,321,000 after acquiring an additional 10,280 shares during the period.

Myriad Genetics (MYGN) opened at $35.53 on Friday. 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. The company has a market cap of $2,460.00, a P/E ratio of 24.01, a price-to-earnings-growth ratio of 2.21 and a beta of 0.24.

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

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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.

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