MYGN has been the subject of several other research reports. Morgan Stanley reaffirmed an underweight rating and set a $24.00 price target (up previously from $17.00) on shares of Myriad Genetics in a research note on Friday, October 6th. Barclays reaffirmed a hold rating and set a $30.00 price target on shares of Myriad Genetics in a research note on Monday, January 8th. Zacks Investment Research raised Myriad Genetics from a hold rating to a strong-buy rating and set a $42.00 target price for the company in a research note on Tuesday, October 17th. ValuEngine raised Myriad Genetics from a hold rating to a buy rating in a research note on Friday, November 10th. Finally, Stephens set a $45.00 target price on Myriad Genetics and gave the company a buy rating in a research note on Wednesday, January 3rd. Two 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’s stock. Myriad Genetics presently has a consensus rating of Hold and a consensus target price of $30.09.
Shares of Myriad Genetics (MYGN) traded up $0.63 during mid-day trading on Tuesday, reaching $38.62. The company’s stock had a trading volume of 924,062 shares, compared to its average volume of 679,728. 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 $38.65. The company has a market capitalization of $2,670.00, a price-to-earnings ratio of 26.09, a P/E/G ratio of 2.34 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 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.05. Myriad Genetics had a return on equity of 9.54% and a net margin of 13.28%. The firm had revenue of $190.20 million during the quarter, compared to analyst estimates of $183.52 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. The company’s revenue was up 7.2% compared to the same quarter last year. equities analysts expect that Myriad Genetics will post 1.05 earnings per share for the current fiscal year.
In related news, VP Gary A. King sold 3,120 shares of the business’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $38.12, for a total transaction of $118,934.40. Following the transaction, the vice president now owns 125,088 shares in the company, valued at approximately $4,768,354.56. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Richard M. Marsh sold 13,759 shares of the business’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $36.25, for a total value of $498,763.75. Following the transaction, the vice president now owns 136,385 shares in the company, valued at approximately $4,943,956.25. The disclosure for this sale can be found here. In the last three months, insiders sold 33,410 shares of company stock valued at $1,163,524. 6.70% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in Myriad Genetics during the 2nd quarter valued at about $101,000. Riverhead Capital Management LLC increased its holdings in Myriad Genetics by 80.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,161 shares of the company’s stock valued at $107,000 after purchasing an additional 1,861 shares during the period. Meeder Asset Management Inc. increased its holdings in Myriad Genetics by 1,067.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 3,292 shares of the company’s stock valued at $119,000 after purchasing an additional 3,010 shares during the period. Tiedemann Wealth Management LLC increased its holdings in Myriad Genetics by 67.0% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 13,650 shares of the company’s stock valued at $185,000 after purchasing an additional 5,475 shares during the period. Finally, Commonwealth Equity Services Inc purchased a new position in Myriad Genetics during the 3rd quarter valued at about $202,000.
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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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