Myriad Genetics, Inc. (NASDAQ:MYGN) Given Average Rating of “Hold” by Analysts

Myriad Genetics, Inc. (NASDAQ:MYGN) has been given an average recommendation of “Hold” by the thirteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $37.74.

Several research analysts have weighed in on MYGN shares. Zacks Investment Research cut First Merchants from a “hold” rating to a “sell” rating in a research report on Monday, July 1st. Cowen reaffirmed a “hold” rating on shares of Axovant Gene Therapies in a research report on Tuesday, July 9th. BidaskClub cut Extraction Oil & Gas from a “hold” rating to a “sell” rating in a research report on Saturday, May 4th. ValuEngine cut Valero Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. Finally, Barclays set a $18.00 price target on Summit Materials and gave the company a “hold” rating in a research report on Friday, June 14th.

MYGN stock traded up $1.83 during midday trading on Tuesday, hitting $28.51. The company’s stock had a trading volume of 2,310,223 shares, compared to its average volume of 1,006,999. The company’s 50-day moving average is $25.46. The company has a current ratio of 3.15, a quick ratio of 2.86 and a debt-to-equity ratio of 0.24. Myriad Genetics has a 1 year low of $22.07 and a 1 year high of $50.44. The stock has a market cap of $2.09 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 1.59 and a beta of 0.82.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.04). Myriad Genetics had a return on equity of 9.82% and a net margin of 2.62%. The business had revenue of $216.60 million during the quarter, compared to analysts’ expectations of $217.76 million. During the same period in the prior year, the firm posted $0.34 EPS. The firm’s revenue for the quarter was up 18.3% on a year-over-year basis. Research analysts expect that Myriad Genetics will post 1.44 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Baillie Gifford & Co. lifted its position in shares of Myriad Genetics by 0.6% during the 1st quarter. Baillie Gifford & Co. now owns 9,540,586 shares of the company’s stock valued at $316,747,000 after buying an additional 55,642 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in Myriad Genetics by 0.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 3,922,852 shares of the company’s stock worth $114,037,000 after purchasing an additional 29,874 shares in the last quarter. Frontier Capital Management Co. LLC lifted its holdings in Myriad Genetics by 4.4% during the 1st quarter. Frontier Capital Management Co. LLC now owns 3,363,970 shares of the company’s stock worth $111,684,000 after purchasing an additional 140,404 shares in the last quarter. Northern Trust Corp lifted its holdings in Myriad Genetics by 2.1% during the 4th quarter. Northern Trust Corp now owns 1,692,079 shares of the company’s stock worth $49,189,000 after purchasing an additional 34,066 shares in the last quarter. Finally, Norges Bank purchased a new stake in Myriad Genetics during the 4th quarter worth about $33,803,000. 99.22% of the stock is currently owned by hedge funds and other institutional investors.

About Myriad Genetics

Myriad Genetics, Inc, a molecular diagnostic company, focuses on developing and marketing novel predictive medicine, personalized medicine, and prognostic medicine tests worldwide. The company offers molecular diagnostic tests, including myRisk Hereditary Cancer, a DNA sequencing test for hereditary cancers; BRACAnalysis, a DNA sequencing test to assess the risk of developing breast and ovarian cancer; BRACAnalysis CDx, a DNA sequencing test for use as a companion diagnostic with the platinum based chemotherapy agents and poly ADP ribose inhibitor Lynparza; riskScore, a clinically validated personalized medicine tool; GeneSight, a DNA genotyping test to optimize psychotropic drug selection for neuroscience patients; and Tumor BRACAnalysis CDx, a DNA sequencing test that is designed to be utilized to predict response to DNA damaging agents.

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Analyst Recommendations for Myriad Genetics (NASDAQ:MYGN)

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