Shares of Myriad Genetics Inc. (NASDAQ:MYGN) have earned a consensus rating of “Hold” from the sixteen ratings firms that are presently covering the company. Three analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $31.92.
Several analysts have recently issued reports on MYGN shares. Barclays PLC reissued an “overweight” rating and issued a $50.00 price target on shares of Myriad Genetics in a research report on Wednesday, July 6th. Mizuho reaffirmed a “neutral” rating and set a $34.00 price objective on shares of Myriad Genetics in a research note on Wednesday, July 6th. Zacks Investment Research raised shares of Myriad Genetics from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Wednesday, July 27th. Bank of America Corp. cut shares of Myriad Genetics from a “neutral” rating to an “underperform” rating and set a $25.00 price objective for the company. in a research note on Friday, July 29th. Finally, Piper Jaffray Cos. cut shares of Myriad Genetics from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $47.00 to $22.00 in a research note on Wednesday, August 10th.
In related news, Director John T. Henderson sold 30,000 shares of the company’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $20.49, for a total transaction of $614,700.00. Following the completion of the sale, the director now directly owns 49,493 shares in the company, valued at approximately $1,014,111.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Christopher Capone purchased 10,000 shares of the stock in a transaction that occurred on Friday, August 19th. The shares were purchased at an average price of $21.24 per share, with a total value of $212,400.00. Following the completion of the acquisition, the insider now directly owns 146,026 shares in the company, valued at $3,101,592.24. The disclosure for this purchase can be found here. 5.80% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the stock. Huntington Asset Advisors Inc. purchased a new stake in Myriad Genetics during the first quarter worth approximately $412,000. C M Bidwell & Associates Ltd. purchased a new stake in Myriad Genetics during the first quarter worth approximately $148,000. Bessemer Group Inc. purchased a new stake in Myriad Genetics during the first quarter worth approximately $4,965,000. Acrospire Investment Management LLC purchased a new stake in Myriad Genetics during the first quarter worth approximately $109,000. Finally, BlackRock Institutional Trust Company N.A. raised its stake in Myriad Genetics by 7.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,865,430 shares of the company’s stock worth $69,823,000 after buying an additional 121,266 shares in the last quarter.
Shares of Myriad Genetics (NASDAQ:MYGN) opened at 20.58 on Wednesday. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 12.04 and a beta of 0.56. Myriad Genetics has a 52-week low of $19.10 and a 52-week high of $46.24. The company’s 50 day moving average is $21.02 and its 200 day moving average is $30.64.
Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by $0.02. Myriad Genetics had a net margin of 14.98% and a return on equity of 16.06%. The business earned $186.50 million during the quarter, compared to the consensus estimate of $187.95 million. During the same period last year, the firm earned $0.41 EPS. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. Analysts anticipate that Myriad Genetics will post $1.07 earnings per share for the current year.
Myriad Genetics Company Profile
Myriad Genetics, Inc (Myriad) is a molecular diagnostic company. The Company is engaged in the discovery, development and marketing of transformative molecular diagnostic tests. Myriad operates through two segments: diagnostics, which 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, or assess a patient’s risk of disease progression and disease recurrence, and other, which provides testing products and services to the pharmaceutical, biotechnology and medical research industries, research and development, and clinical services for patients.
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