Other analysts also recently issued reports about the company. Cowen reiterated a hold rating and set a $25.00 price target on shares of Myriad Genetics in a report on Sunday, September 17th. Leerink Swann reiterated a market perform rating and set a $31.00 price target on shares of Myriad Genetics in a report on Monday, October 2nd. Deutsche Bank increased their price target on Myriad Genetics from $28.00 to $30.00 and gave the stock a hold rating in a report on Wednesday, November 8th. Stephens set a $45.00 price target on Myriad Genetics and gave the stock a buy rating in a report on Wednesday, January 3rd. Finally, ValuEngine downgraded Myriad Genetics from a buy rating to a hold rating in a report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $30.09.
Shares of Myriad Genetics (MYGN) traded up $0.72 during trading on Monday, reaching $35.53. The company’s stock had a trading volume of 492,700 shares, compared to its average volume of 491,313. 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 has a 52-week low of $15.15 and a 52-week high of $37.30. The firm has a market cap of $2,460.00, a P/E ratio of 24.01, a P/E/G ratio of 2.21 and a beta of 0.24.
In other news, insider Alexander Ford sold 3,031 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $31.64, for a total value of $95,900.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Heinrich Dreismann sold 6,000 shares of the firm’s stock in a transaction dated Monday, December 11th. The shares were 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,531 shares of company stock valued at $545,826. 6.70% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in MYGN. SG Americas Securities LLC acquired a new position in Myriad Genetics during the 2nd quarter valued at about $101,000. Bank of New York Mellon Corp boosted its stake in Myriad Genetics by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 935,217 shares of the company’s stock valued at $24,165,000 after purchasing an additional 16,912 shares during the last quarter. Legal & General Group Plc boosted its stake in Myriad Genetics by 8.2% during the 2nd quarter. Legal & General Group Plc now owns 131,723 shares of the company’s stock valued at $3,403,000 after purchasing an additional 10,023 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Myriad Genetics by 3,137.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 206,529 shares of the company’s stock valued at $5,337,000 after purchasing an additional 200,150 shares during the last quarter. Finally, Fiduciary Trust Co. acquired a new position in Myriad Genetics during the 2nd quarter valued at about $113,000.
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About Myriad Genetics
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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