BidaskClub upgraded shares of Myriad Genetics (NASDAQ:MYGN) from a buy rating to a strong-buy rating in a report released on Saturday morning.
Several other brokerages also recently commented on MYGN. BTIG Research initiated coverage on shares of Myriad Genetics in a research note on Friday, January 5th. They issued a buy rating and a $41.00 target price on the stock. ValuEngine raised shares of Myriad Genetics from a hold rating to a buy rating in a research note on Friday, November 10th. Barclays reaffirmed a hold rating and issued a $30.00 target price on shares of Myriad Genetics in a research note on Monday, January 8th. Zacks Investment Research downgraded shares of Myriad Genetics from a strong-buy rating to a hold rating in a research note on Friday, December 15th. Finally, Deutsche Bank lifted their target price on shares of Myriad Genetics from $28.00 to $30.00 and gave the stock a hold rating in a research note on Wednesday, November 8th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Myriad Genetics has a consensus rating of Hold and a consensus price target of $30.55.
Shares of Myriad Genetics (MYGN) opened at $40.37 on Friday. The firm has a market cap of $2,800.00, a P/E ratio of 27.28, a PEG ratio of 2.45 and a beta of 0.24. The company has a quick ratio of 2.06, a current ratio of 2.34 and a debt-to-equity ratio of 0.09. Myriad Genetics has a 1-year low of $15.15 and a 1-year high of $40.55.
Myriad Genetics (NASDAQ:MYGN) last issued its earnings results on Tuesday, November 7th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.21 by $0.05. Myriad Genetics had a net margin of 13.28% and a return on equity of 9.54%. The company had revenue of $190.20 million for the quarter, compared to the consensus estimate of $183.52 million. During the same period in the previous year, the firm earned $0.23 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. research analysts predict that Myriad Genetics will post 1.05 earnings per share for the current year.
In other Myriad Genetics news, Director Heinrich Dreismann sold 6,000 shares of the business’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $33.50, for a total transaction of $201,000.00. Following the transaction, the director now directly owns 33,743 shares of the company’s stock, valued at approximately $1,130,390.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Richard M. Marsh sold 37,654 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $40.25, for a total transaction of $1,515,573.50. Following the transaction, the vice president now directly owns 157,648 shares in the company, valued at $6,345,332. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,064 shares of company stock worth $2,679,097. Insiders own 6.70% of the company’s stock.
A number of institutional investors have recently modified their holdings of MYGN. Dimensional Fund Advisors LP increased its position in Myriad Genetics by 29.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,430,216 shares of the company’s stock valued at $88,636,000 after purchasing an additional 787,396 shares during the period. Wells Fargo & Company MN increased its position in Myriad Genetics by 98.2% during the 3rd quarter. Wells Fargo & Company MN now owns 844,339 shares of the company’s stock valued at $30,548,000 after purchasing an additional 418,335 shares during the period. Acadian Asset Management LLC increased its position in Myriad Genetics by 18.4% during the 4th quarter. Acadian Asset Management LLC now owns 2,205,297 shares of the company’s stock valued at $75,743,000 after purchasing an additional 343,196 shares during the period. PDT Partners LLC purchased a new position in Myriad Genetics during the 2nd quarter valued at $8,481,000. Finally, Northern Trust Corp increased its position in Myriad Genetics by 31.1% during the 2nd quarter. Northern Trust Corp now owns 1,292,588 shares of the company’s stock valued at $33,400,000 after purchasing an additional 306,276 shares during the period.
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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