Myriad Genetics, Inc. (NASDAQ:MYGN)‘s stock had its “hold” rating reiterated by stock analysts at Cowen and Company in a research report issued on Sunday. They presently have a $25.00 price objective on the stock. Cowen and Company’s price objective indicates a potential downside of 24.36% from the stock’s previous close.
A number of other equities analysts have also issued reports on MYGN. Deutsche Bank AG upgraded shares of Myriad Genetics from a “sell” rating to a “hold” rating and reduced their target price for the stock from $27.86 to $15.00 in a research report on Friday, August 18th. BidaskClub upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. Zacks Investment Research lowered shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Jefferies Group LLC reiterated a “hold” rating and set a $23.00 target price (up from $21.00) on shares of Myriad Genetics in a research report on Thursday, August 10th. Finally, Barclays PLC reduced their target price on shares of Myriad Genetics from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. Myriad Genetics currently has an average rating of “Hold” and a consensus price target of $21.22.
Shares of Myriad Genetics (MYGN) opened at 33.05 on Friday. The company has a market cap of $2.26 billion, a PE ratio of 103.61 and a beta of 0.26. The stock’s 50 day moving average price is $29.02 and its 200-day moving average price is $23.38. Myriad Genetics has a 12-month low of $15.15 and a 12-month high of $33.42.
Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.04. The firm had revenue of $200.50 million for the quarter, compared to analyst estimates of $193.71 million. Myriad Genetics had a net margin of 2.83% and a return on equity of 9.67%. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 earnings per share. On average, equities research analysts forecast that Myriad Genetics will post $1.02 earnings per share for the current year.
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In related news, Director John T. Henderson sold 30,000 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $30.30, for a total value of $909,000.00. Following the transaction, the director now directly owns 52,524 shares in the company, valued at $1,591,477.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.20% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System acquired a new position in Myriad Genetics in the first quarter valued at approximately $682,000. Airain ltd acquired a new position in Myriad Genetics in the second quarter valued at approximately $1,097,000. Bank of New York Mellon Corp lifted its holdings in Myriad Genetics by 131.2% in the first quarter. Bank of New York Mellon Corp now owns 918,305 shares of the company’s stock valued at $17,632,000 after buying an additional 521,146 shares during the period. Frontier Capital Management Co. LLC lifted its holdings in Myriad Genetics by 1.4% in the first quarter. Frontier Capital Management Co. LLC now owns 3,075,954 shares of the company’s stock valued at $59,058,000 after buying an additional 41,432 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its holdings in Myriad Genetics by 4.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 698,450 shares of the company’s stock valued at $13,411,000 after buying an additional 29,348 shares during the period.
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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